OREANDA-NEWS. September 24, 2008. Basic Element Company statement regarding financial position of Bank SOYUZ in light of false information released in the mass media on 16.09.2008-17.09.2008.

Basic Element Company is closely monitoring situation on Russian financial markets. Bank SOYUZ being part of the Group duly fulfills all its obligations on transactions with counteragents including REPO deals.

Bank SOYUZ has got no exposure to the financial institutions which are facing difficulties due to the market situation.

In case negative trend in the market progresses Basic Element Company will make all necessary steps to support liquidity position of the Bank.