Bank Severnaya Kazna’s Board of Directors decided to go through with the additional issue of 6,170,000 ordinary registered uncertified shares with face value of 10 RUR apiece, while the price of the shares was determined at 162.075 RUR per share.

This share issue will probably be acquired by East Capital Explorer Financial Institutions Fund AB the day after the issue has been registered by the state.

This information was provided by the bank in compliance with the demand that any issuer and/or a joint stock company must promptly reveal any data related to their activity that might influence the stock price.

Bank Severnaya Kazna first announced it was going to sell a shareholding to East Capital Explorer Financial Institutions Fund AB, the Swedish investment fund, in January 2008.