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Interros will develop Rosbank inpartnership with Socit Gnrale
Interros Company has signed anagreement with aFrench bank group Société Générale tosell 10% minority stake inRosbank.

The price ofacquisition isUSD 317million.

The agreement between the two parties stipulates that both Interros and Société Générale will form astrategic partnership tofurther develop Rosbank.

In the context ofsuch partnership Rosbank will acquire business processes, managerial experience and financial products ofSociété Générale. The implementation ofthis agreement would beaccompanied bythe increase ofthe Société Générale stake from 10% to20%. Incase Société Générale increases its stake to20%, price will beset atthe same multiple toRosbank’sbook value.

As part ofthis process Interros has decided not toproceed atthis time with the Rosbank initial public offering and the listing onthe London Stock Exchange. The principle ofa future floatation remains ashared goal ofthe two partners.

In view ofAndrei Klishas, Chairman ofthe Board ofDirectors ofRosbank, partnership with aleading bank group will allow the management team ofRosbank tofocus onfurther development ofretail business and branch network and tostrengthen its position infinancial services market.

Société Générale (

Société Générale isone ofthe largest financial services groups inthe euro-zone. The Group employs more than 103,000people worldwide inthree key businesses:

  • Retail Banking & Financial Services: Société Générale serves more than 19,8million individual customers worldwide.
  • Global Investment Management & Services: Société Générale isone ofthe largest banks inthe euro-zone interms ofassets under custody (EUR 1,521billion, March 2006) and under management (EUR 402billion, March 2006).
  • Corporate & Investment Banking: Société Générale ranks among the leading banks worldwide ineuro capital markets, derivatives and structured finance.

Société Générale isalready represented inRussia through its subsidiary Banque Société Générale Vostok and Rusfinans Company, one ofthe leaders ofconsumers financing and DeltaCredit — leader inmortgage lending inRussia.

Société Générale isincluded inthe five major socially-responsible investment indexes.