Moscow, Russia - 19 February 2008 - MBRD has securitised part of its car loan portfolio. This deal will provide the Bank with the funding in the amount of 1.499 bln RUB.

The Issuer may increase the borrowing up to $200 mln USD (eq.) in the next 12 months. All notes are denominated in roubles and the transaction implies a unique interest rate hedging scheme.

Bayerische Hypo- und Vereinsbank AG, member of UniCredit Group, was the sole Arranger and sole Lead Manager for the Bank in this deal.

Class A Notes were rated by Fitch Ratings international rating agency as "???+", and Class B Notes as "???".

"We hope that this deal will let us offer our clients more attractive car loan rates in the nearest future", Sergey Zaytsev, Chairman of the Management Board, said.

Joint-Stock Commercial Bank "Moscow Bank for Reconstruction and Development" - is a universal commercial bank, which is working on the Russian banking services market since 1993. (It was granted a full banking license ? 2268 by the Central Bank of Russia on 12 November 2002) The assets according to the published accounts on 1 March 2007 are 74 943 963 thousand rubles. Capital Stock on 1 March 2007 was 465 500 thousand rubles. Own capital on 1 March 2007 was 5 791 112 thousand rubles. The main shareholder of JSCB "MBRD" is Sistema JSFC. MBRD is the Authorized Bank of the Government of Moscow. The revenue in 2006 rose by 114% to $228.2 million.