Promsvyazbank sets a 16 percent coupon rate and a new put date of 25 May 2010 for its 05 Series bond

Promsvyabank (PSB) has set the 5th and 6th coupon rates for its 05-Series bond (state registration No. 40303251V) of 16 percent per annum, or RUB 79.78 per bond. Concurrently, PSB has set a new put date on 25 May 2010 allowing the bondholders to redeem the 05 series at par value.

The bond issue with 5-year maturity totaling RUB 4.5 billion was placed on 24 May 2007. The coupon period is 182 day. As per tender results, the first coupon rate was fixed at 7.99 percent per annum. The current put date is 26 May 2009 (at par).

The outstanding bond is a liquid market instrument held by a diversified investor base, which mainly includes large Russian and international financial institutions and management companies.

The issue is included in the Bank of Russia Lombard List of securities and the A1 Quotation List of the MICEX Stock Exchange.

______________________________________________________________________________________________________________

About Promsvyazbank

OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB461.8 billion, and total capital of RUB49.9 billion under IFRS as of 31 December 2008. Holding company Promsvyaz Capital B. V. owns 84.68% of the Bank, the remaining 15.32% are owned by Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service; “BB-” from Standard & Poor's; “B+” from Fitch Ratings.  As at 1 April 2009, the regional network of the Bank in Russia encompassed 48 branches, 196 sub-branches and other types of outlets and 1 representative office; as well as a foreign branch in Cyprus; and foreign representative offices in Kyrgyz Republic, Ukraine, China, and India.

Banking Group Promsvyazbank includes OJSC Promsvyazbank (head organization), OJSC Volgoprombank, OJSC Yarsotsbank and OJSC Nizhny Novgorod Bank. www.psbank.ru

______________________________________________________________________________________________________________