Annual General Shareholders’ Meeting of Promsvyazbank (PSB) will be held on 25 June 2010

On 18 May 2010 the Board of Directors of PSB resolved to convene the 2010 Annual General Shareholders’ Meeting (AGM) on 25 June 2010 in Moscow.

 The AGM agenda includes the following items: adoption of the annual financial statements and resolution on the distribution of profit (loss) for 2009; election of the Board of Directors and the Audit Commission; election of an auditing firm for 2010; decision on the remuneration of Directors; approval of related-party transactions and PSB participation in the Factoring Association.

The Board of Directors of PSB resolved to recommend the AGM not to pay 2009 dividends on PSB shares.

About Promsvyazbank

OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB 471.2 bn, and total capital of RUB 51.8 bn under IFRS as of 1 January 2010. Holding company Promsvyaz Capital B. V. owns 72.93% of the Bank, Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG, has a 15.32% stake, and the European Bank for Reconstruction and Development owns the remaining 11.75%. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service and“B+” from Fitch Ratings. As at 1 April 2010, PSB had a network of about 240 points of sale in Russia, including 48 branches, a foreign branch in Cyprus, and representative offices in China, India and Ukraine. Banking Group Promsvyazbank includes OJSC Promsvyazbank (head organization), OJSC Volgoprombank, OJSC Yarsotsbank and OJSC Nizhny Novgorod Bank. http://eng.psbank.ru/