OREANDA-NEWS. August 15, 2007. Certain changes in the top management composition have been announced today, on August 6, 2007. On August 8 Alexei Korovin will leave the position of the Deputy Chairman of the Board of Impexbank. Additionally, as of September 7, Pavel Lysenko will leave the Board of Impexbank in order to take up a senior management position elsewhere.

Johann Jonach, Member of the Supervisory Board of Impexbank, the Chairman of the Managing Board of ZAO Raiffeisenbank Austria, said: “As CEO of Impexbank from 2004, Pavel Lysenko was responsible for the Bank’s steady growth on the Russian market, achieving excellent results for the Bank in particular in the areas of Retail Banking. He was also instrumental in expanding the Bank’s network into almost every region in Russia”.

Pavel Lysenko, CEO of Impexbank, commented that “having successfully built up the bank, taken it through the acquisition and prepared it for the upcoming merger, I now feel able to take on new opportunities and new challenges in this high-growth sector. I am confident in the successful completion of the merger and certain that Raiffeisenbank in Russia shall maintain and excel its reputation for the quality of the services it provides to its clients”.

Alexei Korovin was responsible in particular for the development and integration of the business with small enterprises and cash management products in Impexbank and will join another institution in due course to take over a senior management position.

The Managing Board of the future combined ZAO Raiffeisenbank shall be constituted as follows: Johann Jonach, Chairman of the Managing Board; Pavel Gourine, First Deputy Chairman of the Board; Sergei Monin, Member of the Board; Alexander Ouchakov, Member of the Board; Roman Vorobiev, Member of the Board; Christoph Schoefboeck, Member of the Board; Andrei Stepanenko, Member of the Board.

ZAO Raiffeisenbank Austria and OAO Impexbank are subsidiaries of Raiffeisen International Bank-Holding AG. In 2006 Raiffeisen International purchased 100% shares of IMPEXBANK. Together Raiffeisenbank and Impexbank form the largest foreign-owned banking group in Russia, ranking 7th in terms of assets among top Russian banks based on H1 2007 results (Interfax-CEA). Raiffeisen Group is ranked 6th in terms of corporate lending based on H1 2007 results (Interfax-CEA). According to Interfax-CEA, the banks together ranked 4th in Russia in terms of private deposits and 5th in consumer lending in Russia based on H1 2007.

Raiffeisen International Bank-Holding AG (Raiffeisen International) operates the largest banking network in CEE. 18 markets are covered by subsidiary banks, finance leasing companies and two representative offices. Approximately 12.5 million customers are attended to through more than 2,900 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns 70 per cent of the common stock. The remaining 30 per cent is free float, the shares are traded on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group.