Creditor Notification

NOTIFICATION ON MAKING THE DECISION ON REORGANISATION OF THE OPEN JOINT-STOCK COMPANY PROMSVYAZBANK TO ITS CREDITORS

Pursuant to article 23.5 of the Federal Law “On Banks and Banking”, Open Joint - Stock Company Promsvyazbank (hereinafter – OJSC Promsvyazbank) (General License of the Bank of Russia No. 3251 dated 28.09.2007, Primary State Registration Number 1027739019142, Taxpayer Identification Number 7744000912, registered address: 10/22, Smirnovskaya street, Moscow, the Russian Federation, 109052) hereby informs that on 30.08.2010 Extraordinary General Shareholders Meeting of OJSC Promsvyazbank (Minutes №24-10/ОSА dated 30.08.2010) has made the decision on reorganization of OJSC Promsvyazbank by accessing the Open Joint-Stock Company Yaroslavl Commercial Bank for Social Development (hereinafter – OJSC “YARSOTSBANK”) (General License of the Bank of Russia No. 828 dated 08.08.2002, Primary State Registration Number 1027600000130, Taxpayer Identification Number 7606002866, registered address: 14, Pobedy str., Yaroslavl, 150003, the Russian Federation).

1. On the form, procedure and term of reorganisation.

Reorganisation of OJSC Promsvyazbank is performed by accessing the OJSC “YARSOTSBANK”.
The decisions on the reorganisation were made on 30.08.2010 by the Extraordinary General Shareholders Meeting of OJSC Promsvyazbank and the Sole Shareholder of OJSC “YARSOTSBANK”.
After notification of the creditors on the decision approving reorganisation, OJSC Promsvyazbank will file the documents necessary for the state registration of the amendments entered into the OJSC Promsvyazbank’s Charter with the Bank of Russia in accordance with the procedure and in terms determined by applicable Russian legislation.
Satisfaction of the creditors’ claims will be made by OJSC Promsvyazbank in accordance with procedure and in terms determined by applicable Russian legislation.
Reorganisation of OJSC Promsvyazbank is deemed to be completed on the date of making the entry on termination of activity of OJSC “YARSOTSBANK” into the Unified State Register of the Legal Entities.
Taking into account the normative terms for reorganisation, the expected date of completion the reorganisation of OJSC Promsvyazbank is 31.10.2010

2. On the legal form, registered address of the credit organization, to which the accession is made, on the list of bank operations, which are conducted and are deemed to be conducted by OJSC Promsvyazbank.

The legal form of OJSC Promsvyazbank, to which accession is made, is open joint-stock company.
Registered address of OJSC Promsvyazbank, to which accession is made: 10/22, Smirnovskaya street, Moscow, the Russian Federation, 109052.
After completion of reorganisation the legal form, name, registered address and requisites of OJSC Promsvyazbank will remain the same.
The list of bank operations conducted by OJSC Promsvyazbank will be equal to the list of operations conducted by OJSC Promsvyazbank before the reorganisation:

1. depositing of the individuals’ and legal entities’ funds (including, demand deposits and fixed deposits);
2. investment of the deposited funds (including, demand deposits and fixed deposits) to the individuals and the legal entities on its behalf and for its own account;
3. opening and maintenance of the bank accounts of the individuals and legal entities;
4. making the payments on the instructions of the individuals and legal entities (including the authorised bank-correspondents and the foreign banks) on their bank accounts;
5. collection of cash, promissory notes, payment and settlement documents and also cash services of the individuals and the legal entities;
6. sale and purchase of the foreign currency in cash and non-cash forms;
7. depositing and allocating precious metals;
8. issuing of the bank guarantees;
9. transfer of the funds on the instruction of the individuals and the legal entities without opening of the bank accounts (except for postal transfer).

3. On the print source, in which the information of the substantial facts (events, actions) concerning the financial and operational activities of OJSC Promsvyazbank would be published.

From the date of making the decision on the reorganisation and till the date of its completion, disclosure of information of the substantial facts (events, actions) concerning the financial and operational activities if OJSC Promsvyazbank will be made by OJSC Promsvyazbank in the newspaper “Trud”, and if this newspaper is not published in time – in the newspaper “Rossiyskaya gazeta”.

The creditors’ claims of OJSC Promsvyazbank could be forwarded (demanded) in a written form to the following address: 10/22, Smirnovskaya street, Moscow, the Russian Federation, 109052, from 9 a.m. till 6 p.m. (Moscow time) in accordance with the requirements of the Russian legislation.

Telephone for contacts in Moscow +7 (495) 777-1020, ext. 70-6385 (from 9 a.m. to 6 p.m.), e-mail: Smelyansky@psbank.ru.