Severnaya Kazna’s chief accountant Lidia Glebova sold her .722%-share in the bank’s authorized capital; thus the number of the bank’s stockholders was reduced to 38 people. At the same time, the share holding of chairman Andrei Volchik went up by .73% (from 7.691% to 8.413%) and that of Maxim Kostyukov dropped from .069% to zero.

This is the third time Mr. Volchik has made changes in his share holding: he reduced his share from 7.995% to 7.044% in early May 2007 and from 10.024% to 7.995% on April 25, 2007. In the meantime, chairman Vladimir Frolov decided to decrease his share in the company’s authorized capital from 23.929% to 23.352%, or by .58%.

This information was published by the bank in compliance with the demand that a joint stock investment fund must disclose any information that can affect its stock price.