The ‘A+' rating qualifies OJSC BALTINVESTBANK as a highly reliable borrower. Risk of a delay in meeting liabilities is insignificant.

OJSC BALTINVESTBANK's key performance indicators are steadily growing.

The Bank's pre-tax profit 2011 as per Form 102 was RUB 573.6 million increasing the result achieved for 2010 (RUB 215.5 million) more than twice. Net profit of the Bank for 2011 increased 4.3-fold to RUB 479.8 million.

Equity capital increased by 30% to RUB 6.3 billion as of January 1, 2012 from RUB 4.8 billion as of January 1, 2011 whereas the average equity capital growth rate in the banking system of the Russian Federation is 10.8%.

Amount of physical persons' deposits increased by 42.7% to RUB 19.8 billion for 2011 (the average value in Russia's banking system being 20.9%).

OJSC BALTINVESTBANK has achieved a good spread of funding sources. Customers' funds account for the greater part of the Bank's liabilities, with favorable concentration of liabilities within one certain group of depositors. The Bank's current liability profile shows that its dependence on major accounts is not high – a good contribution to the Bank's stability.

Another argument for the overall estimation is that OJSC BALTINVESTBANK has achieved a good level of liquidity. The bank's quick liquidity ratio as of January 1, 2011 was 94.19% (the minimum value required being 15%. Current liquidity ratio equaled 88.3% against the minimum acceptable percentage of 50%. Long-term liquidity ratio was 66.6%, which is below the maximum limit of 120%.

What is restrictive on the rating score is the low quality of the Bank's capital. Its authorized capital is RUB 256.8 million accounting for 4.1% of the equity capital which is far below the average rate in the banking system of the Russian Federation (24-25%).

OJSC BALTINVESTBANK has been active in the market of banking services since 1994. Among the Russian regional banks, OJSC BALTINVESTBANK is a mid-sized bank in the amount and volume of operations. The bank is registered in St. Petersburg. Its PoS network consists of 6 branches and 42 additional outlets in different cities of Russia.

As of 2011, the Bank ranked 73th in the amount of assets in Russia, 114th in the amount of equity capital, 98th in the amount of retained profit place (according to Interfax-Center for Economic Analysis).

OJSC BALTINVESTBANK possesses banking license no. 3176 granted by the Central Bank of the Russian Federation as of May 20, 2003.

In January 2005, OJSC BALTINVESTBANK was registered as one of the banks supporting the deposit insurance scheme / DIS, (Certificate of Registration for the Deposit Insurance System no. 824 as of 10/29/2009).

The Bank's auditor is Research, Consulting, Audit, Developments LLC (registered office: Morskaya nab. 33, office 1 - 199155 St. Petersburg, Russia). The audit firm is assigned primary registration number 10305004296 in the State Register of Self-regulatory Audit Organizations; also, it is a member of the Russian College of Auditors (a non-profit organization) registered in the State Register of Self-regulatory Audit Organizations pursuant to order no. 675 of the Ministry of Finance of Russia as of 12/22/2009.

This press release is based on the current-state monitoring records for OJSC BALTINVESTBANK and materials submitted by the Bank and duly considered by CJSC AK&M Rating Agency.

The rating score, along with any information and conclusions provided in this press release, only conveys our opinion on the Bank's reliability and shall not be considered as advice on the purchase and sale of securities or the provision of loan facilities to the Bank.

AK&M Rating Agency will not incur any responsibility for any interpretations, inferences and consequences related to the application of results of the rating estimation procedure by any third parties.

AK&M Rating Agency is a leading independent national rating agency engaged in rating activities since 1993.

AK&M Rating Agency is accredited by the Ministry of Finance of the Russian Federation (order no. 452 as of September 17, 2010).

AK&M Ratings are recognized by the Central Bank of Russia (for providing unsecured lending facilities – Provision 323-P), Vnesheconombank (for granting subordinated loans) and SME Bank (for its program of lending to SME businesses), RUSNANO (when selecting banks to provide business banking services to project and engineering entities implementing investment projects), the MICEX (as a prerequisite for including bonds in the Corporate Bond Index / MICEX CBI and Municipal Bond Index / MICEX MBI calculation base, for listing bonds and for providing access to the MICEX+ trading mode). Pursuant to an order of Russia's Government AK&M Ratings count for approving the capitalization increase procedure for banks. Besides, AK&M Rating Agency is recognized by AHML and accredited by SRO National Securities Market Association.

CJSC Analysis, Consulting and Marketing Rating Agency

ul. Gubkina 3

Moscow, Russia

www.akmrating.ru

Press release by: Y.B. Kuznetsova

Phone no. (495) 916-70-30, fax no.: (499) 132-69-18.

E-mail: kuznetsova@akm.ru