LOCKO Bank announced tender offer for repurchase of its Eurobonds

Moscow, 03 March 2009 – LOCKO Bank announced a public tender to repurchase up to RUR1.1bln. of its RUR3bln. LPN due in July 2009 and up to $20mln. of its $100mln LPN due in March 2010. Deutsche Bank AG, London Branch was appointed as a tender agent on this program. Relevant announcement was published on Friday, 27 February 2009, via Euroclear and Clearstream and via the news system of the London Stock Exchange.

Current Eurobonds repurchase offer is aimed at optimizing the volume and structure of LOCKO Bank’s external indebtedness, thus providing further comfort to its investors. Moreover, due to its strong liquidity position and assuming the current high yield to maturity of its Eurobonds, LOCKO Bank intend to maximize profitability on its securities operations.

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