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Designation of new Managing Board accelerates Transformation Process inUkraine.

Volodymyr Lavrenchuk will become new CEO of the merged bank, former RZBTreasurer Gerhard Boesch will take board position.

Along with the plan to accelerate the legal merger of the two banksRaiffeisen International Bank-Holding AG (Raiffeisen International)decided today, about the designated board members of the bank after themerger. Subject to approval of the National Bank of Ukraine, the boardwill be formed by:

- Volodymyr Lavrenchuk CEO, Retail Private Individuals& SME

- Gerhard Boesch Treasury and Investment Banking

- Victor Gorbachev Corporate I

- Arthur Iliyav Corporate II

- Grigoriy Sheludko Security and Legal

- Rainer Sichert Transformation

- Igor Volokh Operations and IT

Volodymyr Lavrenchuk, currently Chief Executive Officer (CEO) of JSPPBank Aval, will consequently also become CEO of JSCB RaiffeisenbankUkraine subject to approval by the National Bank of Ukraine. After thelegal merger of the two banks, Mr. Lavrenchuk will become CEO of themerged bank. Mr. Igor Frantskevych, who joined Raiffeisenbank asChairman of the Board in March 1998, will retire from this function bymutual agreement.

Gerhard Boesch, until recently heading the division of Global Treasuryof Raiffeisen Zentralbank Oesterreich AG (RZB), will take the positionof a board member being responsible for Treasury and Investment Banking.Until the merger Mr. Boesch will perform this function at Bank Aval.

The designation of the new managing board is another importantcornerstone in the current transformation process. Bank Aval wasacquired by Raiffeisen International last year. Together Bank Aval andRaiffeisenbank reach a market share of 12.5 per cent by total assets,forming the largest banking group in this market of 50 million people.The banking market in Ukraine grows significantly: In the first ninemonths of 2005, the local banks'' aggregated total assets increased by 45per cent to approximately 28.5 billion.

Bank Aval, Kiev was founded in 1992. At year-end 2004, its balancesheet-total amounted to 1,573 million and the profit before tax reached 38 million. Return on Equity was 32.6 per cent. The bank operated some 1,380 business outlets with approximately 17,950 employees at the balance-sheet date.

Raiffeisenbank Ukraine was founded in 1998. As at 30 September 2005, thebank showed assets amounting to 913 million, operated 26 outlets and employed 1,513 people.

Raiffeisen International operates one of the leading banking networks inCEE with 16 subsidiary banks and many leasing companies in 16 markets.9.2 million customers are served via 2,400 business outlets. RaiffeisenInternational is a fully consolidated subsidiary of RZB, which owns 70per cent of the common stock. The remaining 30 per cent is free float,the shares are traded on the Vienna Stock Exchange. RZB is the centralinstitution of the Austrian Raiffeisen Banking Group, the country''s mostpowerful banking group.

For further information please contact Michael Palzer (+43.1/71707-1504, Vienna or Gregor Bitschnau (+43/676/860611955, Kiev.,,



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