VNESHTORGBANK MAY INCREASE STAKE IN ARMENIAN VTB TO 100%

SKRIN Market & Corporate News
October 30, 2006 Monday 1:49 PM GMT

Vneshtorgbank may increase its stake in VTB (Armenia) to 100%,
Kommersant quoted Senior Vice President of Vneshtorgbank Vasiliy Titov
as saying. Vneshtorgbank holds a 70% plus 1 stake in Armsberbank,
which is operating under the Bank VTB (Armenia) brand.

Mikhail Bagdasarov, owner of a 30% stake in Bank VTB (Armenia),
is conducting talks on sale of the stake to Vneshtorgbank.