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Official Decision on Merger Start of Impexbank to be taken soon. Startstill expected for March.

Within the framework of preparations for starting the legal merger, theManagement Board of Impexbank has decided to ask RaiffeisenInternational Bank-Holding AG, as its sole shareholder, to considerrestructuring Impexbank through a merger with Raiffeisenbank. TheImpexbank Board has also decided to ask Raiffeisen International to takea decision on the form of the merger, and to decide other merger-relatedissues, by 15 March 2007.

This is one of the legally prescribed steps that need to be taken tokick off the legal-merger procedure for the integration of Impexbankinto Raiffeisenbank.

Johann Jonach, Regional Director for Russia and Raiffeisenbank CEO, saidof the decision:This is the next stage in the schedule for starting the legal merger, following the increase in the registered capital of both banks that was arranged earlier this year. Taken together, this all brings us closer to legal merger and underpins the successful process of the integration of the two banks. Now that the structure of the future bank has been decided, from the Board right down to the department heads, we have the human-resources base for the successful launch of this process. We are on track, and in line with the schedule.

Pavel Lysenko, Impexbank CEO, emphasised thatintegration processes are well underway in many areas and on various levels of business, creating a solid basis for the legal-merger process, which is without doubt the most important process of all. To date, our integration efforts have been devoted primarily to ensuring as smooth and imperceptible a transition period as possible for customers for example, merging call-centres, selling NPF Raiffeisen and AMC Raiffeisen Capital products in branches of Impexbank, conducting joint transactions on the financial markets, and instituting common procedures for evaluating financial and credit risks. We are more than ready for the legal part of the process.

ZAO Raiffeisenbank Austria is a universal bank, focussing in equalmeasure on commercial-, retail- and investment-banking activities. Itstarted operations in Russia in 1996, offering a wide range of servicesto both companies and individual customers. Raiffeisenbank is ranked10th in Russia in terms of assets, based on 2006 results (CEA Interfax).

Established in 1993, Impexbank is also a universal bank, and is rankedamong the top 30 Russian banks in terms of assets and equity and amongthe top 10 retail banks. Impexbank is a participant of the StateDeposit-Insurance System. The banks customers are serviced through 205 business outlets, about 400 points of consumer lending and also 500 ATMs.

Raiffeisenbank Austria ZAO and Impexbank OAO are subsidiaries ofRaiffeisen International Bank-Holding AG, which operates one of theleading banking networks in the EU, with subsidiary banks and leasingcompanies in 16 markets. More than 11.7 million customers are servicedthrough over 2775 business outlets. In eight markets, the respectivenetwork bank is one of the three largest local banks. Representativeoffices in Lithuania and Moldavia complement the Groups presence in the region. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB), which owns 70 percent of the share capital. The remaining 30 percent of the shares are traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria, and the central institution of Austrias Raiffeisen Banking Group, the countrys largest banking group.


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