OREANDA-NEWS. On January 21, 2007 CLOSED JOINT-STOCK COMPANY "HOME СREDIT BANK" ("HC BANK"), one of two representative businesses of Home Credit Group operating in Ukraine, announced that it received the approval by the State Commission of Securities and Stock Market (SCSSM) to issue its first ever local Notes in the total nominal amount of up to UAH 300 mil. and is starting the issue period today. The Notes will have ISIN UA4000029748, 5-year maturity, bear 12% p.a. fixed coupon and may be issued at the issue date or in the course of the issue period. HCB is planning to use the 2-month issue period for placement as a tool for liquidity management, reported the press-centre of HC BANK.

"The main purpose of the issue is to obtain funding as a precondition for our profitable growth in Ukraine following the successful completion of acquisition of former Bank AGROBANK and subsequent rebranding. The approval of the State Commission of Securities and Stock Market (SCSSM) is the essential precondition for our forthcoming offering and placement. Given the growing phase of HC BANK, we are intending to place most of the Issue within the PPF Group.", says Alexander Labak, CEO of HCBV.

Irina Molchanova, Acting CEO HC Bank underlines that: "Financial funding acquired from bond placement will be directed at the business expansion, particularly at the increase of the banking transaction spectrum."

PPF banka a.s., acted as the Group supervisor and Bookrunner.

The Prospectus, prepared in the Ukrainian language in connection with the Issue, was approved by the SCSSM and is available at the issuer Head Office.

HC BANK is 100%-owned subsidiary of Home Credit B.V., a holding company for Home Credit Group of companies operating in six Central and Eastern European as well as Central Asian consumer finance markets. HC BANK, formerly Bank AGROBANK, was acquired by Home Credit Group in December 2006 and started the rebranding of HC BANK in the second half of 2007.

Notes to Editors:
Companies of the Home Credit Group have been operating in the Central and Eastern European as well as Central Asian consumer finance markets and had granted loans in the combined principal of USD 2,7 billion as of 2006 year end. Home Credit Group maintains a leading position in the consumer finance markets of the Czech Republic (entered in 1997), the Slovak Republic (1999), the Russian Federation (2002) and the Republic of Kazakhstan (since December of 2005). Home Credit Group also entered the Ukrainian and Belarusian market in 2006.

The Home Credit Group belongs to the PPF international group of companies which has interests in insurance and consumer finance, and provides complex asset management services. During its 16 years in business, PPF Group has become a leading international financial investor, managing assets of over EUR 8.7 bln as of 30 June 2007.