OREANDA-NEWS. January 15, 2009. URSA Bank announced today that it has authorised a debt repurchase programme pursuant to which the Bank may from time to time repurchase (through open market purchases or private transactions) up to all of the outstanding 7.00 Per Cent. Loan Participation Notes due May 2010 (ISIN XS0301291729) issued by URSA Finance Plc (formerly known as Sibacademfinance plc) for the sole purpose of funding a loan to URSA Bank (of which approximately EUR 400 million in principal is currently outstanding).

URSA Bank Managing Director John McNaughton notes that the Bank's earlier buy-back programs were well-received by the market, adding that the new program reafirms its committment to remaining one of the most investor-friendly institutions in Russia. Not for release into the United States, Canada or Japan.