Vozrozhdenie Sankt Peterburga Construction Corporation OAO , together with Raiffeisenbank, is launching a new program for purchase of residential buil

Vozrozhdenie Sankt-Peterburga Construction Corporation, together with Raiffeisenbank, are launching the new programs of mortgage loans for luxurious real estate purchase in residential facilities of Paradny Kvartal and Dom u Moria that are situated in the center of Russia's northern capital.

According to the mortgage program, Raiffeisenbank's customers are eligible for RUB and USD loans for up to 25 years. The minimum amount of down payment is 15% on the price of purchased real estate. Raiffeisenbank provides loans in the amount from US$ 15,000/RUB 400,000 to US$ 1,000,000/ RUB 27,000,000. Amounts exceeding this limit are considered individually.

«This joint program with Vozrozhdenie Sankt-Peterburga Construction Corporation is of major significance for us. We are very glad that Raiffeisenbank is now able to offer a large range of mortgage products to its customers, including luxurious real estate purchase loans», told Roman Vorobiev, member of Raiffeisenbank's Management Board, Head of Retail Division Directorate. «Vozrozhdenie Sankt Peterburga Construction Corporation is one of the biggest construction companies on the market, and we are sure our cooperation will be mutually advantageous, and our customers will be able to appreciate all of its advantages.»

Ms. Olga Klushina, Marketing and Sales Director at Vozrozhdenie Sankt-Peterburga Construction Corporation OAO , says: «We are frequently asked: what are the advantages of mortgage lending when the highest-class real estate is purchased? The key advantage for such buyers is the fact that current profitability of their business is much greater than bank rate in mortgage lending. In addition, buyers are able to receive a long-term loan and to live in a luxurious building, by gradually repaying the loan, rather than waiting for many years to save the necessary sum of money. It is necessary to take into account that prices for real estate show an upward trend».

Vozrozhdenie Sankt Peterburga Construction Corporation OAO is the St. Petersburg luxurious residential estate market leader. Established in 1994, Vozrozhdenie Sankt Peterburga Construction Corporation has successfully implemented 27 projects in the most prestigious, difficult and responsible sites of the city's historic center over 12 years — these are almost 50 residential buildings and 5 business centers. In 2005, the corporation commissioned the Preobrazhensky Business Center (14th line of the Vassilievsky Island, 7a), a residential building at 4 Bolshaya Morskaya Street, the 1st stage of the residential building at 4 Robespierre Embankment, 1st and 2nd stages of the residential building at 60 Shpalernaya Street. The total area of commissioned facilities amounted to 70,000 sq.m. In 2006, work continued to build the 1st stage of Paradny Kvartal — the first luxurious block in St. Petersburg, new buildings of the Kamennoostrovskaya Kollektsiya, luxurious residential premises Dom u Moria, premises at 60 Shpalernaya St., 4 Robespierre Embankment, and Apollo Business Center. Late in 2006, the 1st stage of the Konung unique residential building built in the main, Ratushnaya Square, in the town of Vyborg was finalized. New projects are being prepared.

Raiffeisenbank Austria ZAO ranks No. 9 among Russia's biggest banks by the amount of assets, based on the results of 3Q06 (Interfax Central Economics Agency). At present, the Bank has 20 branches in Moscow, 5 branches in St. Petersburg, regional branches in Yekaterinburg, Samara, Novosibirsk, Chelyabinsk, Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm. By the amount of corporate credit portfolio, Raiffeisenbank ranked in 3Q06 (Interfax Central Economics Agency). Among Russia's leading retail banks, Raiffeisenbank ranks No. 8 by the scope of private loans and No. 8 by the scope of private deposits, as per the data of 3Q06 (Interfax Central Economics Agency). Raiffeisenbank Austria ZAO is a subsidiary of Raiffeisen Interational Bank-Holding AG (Raiffeisen International)- the holding that manages subsidiary banks and leasing companies on 16 markets in CEE. 11.7 million customers are serviced in more than 2,775 branches. Representative offices in Lithuania and Moldova expand the Group's presence in the region. Raiffensen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Austria AG (RZB) that holds 70% of ordinary shares in the holding; the remaining 30 percent of shares are in free circulation and are traded in the Vienna Stock Exchange. RZB is the parent bank of Raiffeisen Group — Austria's biggest banking group — and is the leading corporate and investment bank and Austria's leading bank.

Contact info: Ms. Anna Panina, PR Manager, Vozrozhdenie Sankt Peterburga Construction Corporation OAO , telefax: 314-97-12, panina@skv.lsrgroup.ru