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Press Release

9 July 1999

Share Issue Completed

On 8 July 1999 the Moscow City Directorate of the Central Bank of the Russian Federation approved the CMB registration statement of a new share issue. We sold to the investors 60,000,000 ordinary shares at their par of RUR 1.— each. Upon completion of the issue share capital increased from RUR 10 million to RUR 70 million. At RUR 130.6 million of qualifying capital as of 30 June 1999, CMB is ranked among the Top 150 Russian banks in terms of capital (according to the «Kompaniya» business weekly).

Financial Reporting and Analysis Department
+7 095 237 5854

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