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    Further step in creation of strategic partnership between PPF Group and Nomos Bank
    09/14/2007

    In accordance with the Memorandum of Understanding signed on May 17, 2007 and based on the mutually-agreed timetable, PPF Group announced today that it is to acquire a 5% stake in the Russian Nomos Bank. This initial acquisition is to be undertaken through the company Russia Finance Corporation B.V., following the decision of the Russian Federal Anti-Monopoly Service (FAS) of August 31, 2007 to approve the acquisition of 100% stake in Nomos Bank by Russia Finance Corporation B.V., which is controlled by PPF Group.

    Both PPF Group and shareholders of Nomos Bank expect the whole transaction to be completed during the fourth quarter of 2007, with the aim of creating a strategic partnership between both companies. The transaction is subject to the approval of the Central Bank of Russia. Both parties will continue working together in order to create a major universal private banking group in Russia.

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