Petrocommerce KB OAO : Bank Petrocommerce to Become Part of Otkritie Financial Corporation

IFD Kapital Group and Otkritie Financial Corporation have announced a new stage of strategic partnership. Otkritie Financial Corporation will become the owner of Bank Petrocommerce, and IFD Kapital Group - one of the Corporation's shareholders.

The project will be launched in 2013 and will be implemented by the end of 2014, once all regulatory approvals are in place.

Otkritie Financial Corporation will make a 19.9% additional share issue in favour of IFD Kapital. The issue proceeds will be used to acquire at least a 95% stake in Bank Petrocommerce, including 79.3% of shares owned by IFD Kapital, and minority shareholdings.

The additional share issue of Otkritie Financial Corporation will amount to at least RUB 15 bln. The acquisition price will be based on the estimated value of 95% shares in the amount of RUR 18.5 bln.

Vladimir Rykunov, who is currently member of the Management Board and Financial Director of NOMOS-BANK, will become the Chairman of the Management Board of Bank Petrocommerce. The documents required for his approval will be sent to the Central Bank of Russia in the near future.

Vagit Alekperov, President of LUKOIL: «Bank Petrocommerce has been LUKOIL's primary bank for many years. I am sure that as part of Otkritie Financial Corporation, the Bank will boost its capacities of financing our major investment projects and servicing the Company's employees».

Vadim Belyaev, Chairperson of the Management Board of Otkritie Financial Corporation: «We are glad that our successful cooperation with IFD Kapital is reaching a new level. New strong shareholders and acquisition of Bank Petrocommerce contribute to meeting our strategic objective - building the biggest independent player in the Russian financial market with a diversified shareholder structure, which expands the range of our development capacities».

Olga Plaksina, Chairperson of the Management Board of IFD Kapital: «In our opinion, this project has robust potential: we become shareholders of one of the most dynamically growing players of the Russian financial market, and Bank Petrocommerce will be managed by one of the most professional teams in Russia with many years of unique expertise and a positive track record in terms of bank asset management».

About IFD Kapital Group

IFD Kapital Group was established in 2003 and has developed into one of the largest diversified holdings with assets in such economic sectors as oil and gas, finance, construction, chemical industry, mass media, and high technologies. As at YE 2012, total assets of IFD Kapital were U.S.$14.7 bln, total equity - U.S.$7.5 bln.

Press Service Contacts:
Antonina Minenko
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About Otkritie Financial Corporation

Established in 1995, Otkritie Financial Corporation ranks as Russia's second largest private financial group by total assets, which exceed RUB 1.3 trillion. Nowadays, Otkritie is a full-service financial group offering its clients over 80 financial products and services through six core businesses - commercial banking, brokerage, insurance, investment banking and asset management.

Otkritie Financial Corporation ranks one of top 400 Global Growth Companies, according to World Economic Forum. Its companies operate in over 40 key economic regions as well as in London and New York. Otkritie's client base comprises over 3.6 million individuals and 140,000 legal entities.

Commercial banking is the Corporation's core business area. The Corporation's Banking Group comprises NOMOS-BANK, Otkritie Bank, and the Bank of Khanty-Mansiysk. With total assets exceeding RUB 1.25 trillion, banking business of the Group ranks 2nd among Russian largest private banks, 6th among Russian banking groups, enters the top 350 banking groups worldwide and the top 15 in Eastern Europe.

Press Service Contacts:
Alexander Dmitriev
Evgeniya Pryadko
Tel.: [phone], ext. 3707
e-mail: [e-mail]