Moscow, 23 July 2007 - International Rating Agency Fitch Ratings increase the rating if the Moscow Bank for Reconstruction and Development: the long term rating from "B" to "B+" level and the long term national rating from "BBB-" to "A-". The rating forecast is "stable". Also, Fitch Ratings confirmed the short term rating of level "B", individual rating "D/E" and support rating "4". At the same time Fitch increased the MBRD Eurobond rating with maturity dates: March 2008 and June 2009 from "B" to "B+" level. Recoverability of assets given to bonds was confirmed at the "RR4" level. 

According to the Fitch Ratings expert's conclusion, the long term, short term, support and national long term ratings reflect the potential of receiving support from Sistema JSFC. The rating movement followed the yesterday's long term rating increase of Sistema JSFC to the "BB-" level with "stable" forecast.

"We systematically conduct the diversification policy, expanding the number of services offered, developing new programs and carrying out the regional expansion. At the same time we pay attention to the quality of our credit portfolio and the rise of the Bank's financial stability. We are convinced that because of the successful completion of our business objectives and the increase of the international credit rating our Bank will strengthen its market position", - noted Sergei Zavyalov - chairman of JSCB MBRD.

Rating published on the website (www.fitchresearch.com) on 19.07.2007.

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.