US$ 30,000,000 Car Loans Receivables Backed Syndicated Term Loan Facility

08.08.2007

Open Joint Stock Company Credit Bank of Moscow («the Borrower»/«Credit Bank of Moscow») today signed an 18 month US$30,000,000 Car Loans Receivables Backed Syndicated Term Loan Facility.

Standard Bank Plc and ZAO Standard Bank acted as Mandated Lead Arrangers for the Facility. Standard Bank Plc acted as Facility Agent and as Bookrunner for the Facility.

The proceeds will be used towards the financing of the Borrower's present and future portfolio of car loans.

This Facility is a renewal of the first ever syndicated loan in Russia secured on a pool of selected car loans. The one of a kind structure tailored for this deal can be regarded an alternative for securitization. The deal carries a margin of 1.85% per annum and is 18 month extendible. The Facility was well received and generated a 20% oversubscription in the market.

Summary details of the transaction:

Borrower: Open Joint Stock Company Credit Bank of Moscow
Amount: US$ 30,000,000.
Facility Type: Secured Syndicated Term Loan Facility.
Facility Purpose: Financing present and future portfolio of car loans
Repayment: Bullet repayment.
Maturity: 18 months from the date of signing of the Facility.
Margin: LIBOR + 1.85% p.a.
This is the seventh time Credit Bank of Moscow taps international syndicated loan market, for the second time this year. This Facility is the cheapest and longest syndicated finance raised by Credit Bank of Moscow to date.

The list of participating banks is as follows:

Mandated Lead Arrangers
Standard Bank Plc.
ZAO Standard Bank

Arrangers
Anglo-Romanian Bank Limited
OTP Bank

Co-Arranger
Banco Finantia  S.A
Dresdner Bank
VTB Bank (Deutschland)

Managers
Closed Joint Stock Company International Moscow Bank
FBN Bank (UK)