The Bank of Moscow to launch offering of Rub 10 bln of 01 series bonds on August 1, 2008

On August 1, 2008 The Bank of Moscow is to launch an offering of documentary interest-bearing non-convertible bonds. The amount of the bond issue will be Rub 10 bln (10 mln securities with Rub 1,000 par value each).

Maturity of the bonds is 1092 days effective the placement date. The first coupon rate for these instruments is to be set via an auction. The bond yield is to be about 9.0-9.5% p.a.

Fitch Ratings assigned The Bank of Moscow’s securities the National "AA+ (rus)" rating.

Recently, Moody’s Investors Service has upgraded The Bank of Moscow’s long-term credit rating to "Baa1", Outlook Positive. Furthermore, based on the outcome of the annual rating meeting, the Bank’s financial strength rating has been upgraded to "D"

In the first half of 2008, The Bank of Moscow has seen growth in the key business indicators. Its assets grew 15.5%, with equity and credit portfolio up 5.3% and 36.8%, respectively. Net profit surged 32% against the first half of 2007.

Center of public relations, Bank of Moscow
(495) 624-74-40
pr@mmbank.ru

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