SOTSGORBANK Receives US $10,000,000 Loan from US lender World Business Capital

21 December 2007

OJSC CB “SOTSGORBANK” (Moscow, Russia) received a ten year, $10,000,000 loan from US lender World Business Capital (WBC) of Hartford, Connecticut. SOTSGORBANK will use these funds to build-out it’s lending to small and medium size enterprises in Russia. US agency OPIC (Overseas Private Investment Corporation) is the loan guarantor.

SOTSGORBANK is the 2^nd commercial bank in Russia to receive a loan from WBC. SOTSGORBANK Chairman Mr. Bezgin Igor Mikhailovich stated: “this long-term loan demonstrates the high level of confidence by US lenders in SOTSGORBANK and the recognition of our prospects for developing the small and medium-sized businesses sector in Russia.”

Comments independent director, Thomas D. Nastas, member of the Board of Directors, SOTSGORBANK: “this transaction is a testimony to the skills of SOTSGORBANK managers to execute its business plan in an increasing competitive market in Russia. From start to finish we closed this transaction in seven months, which reflects the responsiveness and openness of SOTSGORBANK managers to satisfy the due diligence, corporate governance and transparency requirements of World Business Capital and OPIC. SOTSGORBANK received this loan at an attractive rate in a global credit market that is increasing difficult to access as turmoil continues due to the sub-prime credit crunch. SOTSGORBANK managers are building a world class organization.”

WBC has successfully closed loans in the emerging markets. In 2003 OPIC signed a cooperative agreement with WBC to expand its support for SMEs investing overseas and enhance the activities of OPIC’s SmallBusinessCenter.

“We are pleased to support the lending activities of one of Russia’s leading medium-sized banks. SOTSGORBANK’s lending expertise to small and medium-sized enterprises was a key factor in our decision to extend long-term financing to it with the support of OPIC,” said Robert Monyak, Executive Vice President and Chief Lending Officer at WBC.

The Overseas Private Investment Corporation (OPIC) is an agency of the U.S. government. Since 1971 it helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, compliments the private sector in managing risks associated with foreign direct investment. Over OPIC’s 35-year history, it has helped U.S. businesses invest in more than 150 emerging and developing markets, supported $164 billion of investments that resulted in more than 732,000 host-country jobs and $13 billion in host-government revenues. OPIC projects have generated $69 billion in U.S. exports and supported more than 264,000 American jobs.