Annual General Meeting of Shareholders was held on June 26, 2009

The Board of Directors of MBRD held the Annual General Meeting of Shareholders on June 26, 2009 and summarized the results of the past year. The meeting approved, among others, the Annual Report ’08, annual financial statements, including income statement for 2008, elected Board of Directors, Auditing Committee and the External Auditor for 2009.

According to the agenda the results of the meeting were as follows:

• To allocate 10% of net profit amounted to 28,731,940,56 RUB to Bank’s Reserve Fund according to the Bank’s Articles of Association
• To allocate share of net profit amounted to 1,614,085 RUB forpayment of remuneration to Board of Directors (50,000 USD at the rate as of 13^th of May, 2009 - 32,2811 RUB per 1 USD);
• Do not pay out dividends for ordinary and preferred shares;
• Do not distribute net profit in amount 256,937,380 RUB andreserve it for the Bank’s disposal.
• To elected Board of Directors as follows: Anna S. Andreyeva, Aleksey N. Buyanov, Felix V. Evtushenkov, Natalia N. Evtushenkova, Sergey Ya. Zaytsev, Georgy V. Kravchenko, Galina A. Levykina, Evgeny L. Madorskiy, Sergey V. Pavlov, Alexander A. Handruyev, Sergey Ye. Cheremin, Andrey Z. Shlyakhovoy.
• To approve ZAO “Deloitte&Touche CIS” External Auditor for 2009.

The Annual Report ’08 and the results of the financial and operational activities for 2008, prepared by the Auditing Committee and the Bank’s External Auditor were presented on the meeting.

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