12.02.2008 /Investing VTB has decreased its stake in OJSC VTB Bank North-West - VTB Bank has decreased its stake in OJSC VTB Bank North-West ("VTB North-West") to 71.5% as a result of a REPO transaction with VTB North-West shares. The REPO transaction has been completed between VTB and a non-affiliated company.

12.02.2008 /Events The President of the Bank of Moscow Andrey Borodin took part in the meeting of the Federal Council of the Russian Union of Industrialists and Entrepreneurs - The meeting was also attended by the heads of the latter together with its President Alexandre Shokhin, representatives of the regional branches of the Union, a delegation of the Russian Chamber of Commerce and Industry headed by the Chairman of its Board of Directors - the President of the Chamber of Commerce and Industry - Yevgeny Primakov.

12.02.2008 /Operations VTB Bank Branch is launched in India - The newly opened VTB Branch in India is designed to contribute to forging foreign trade relationship between Russia and India. Under our estimates, VTB Branch assets in New-Delhi are to exceed USD 50 mln by 2008 year-end, with its equity amounting to USD 27 mln.

12.02.2008 /Bank's Ratings Fitch affirms Russia's Vnesheconombank - Fitch Ratings has today affirmed the ratings of Russia's Vnesheconombank ("VEB") at Long-term Issuer Default (IDR) 'BBB+', Short-term IDR 'F2', Support '2' and Support Rating Floor 'BBB+'.