Annual Meeting of Shareholders of the Bank Saint Petersburg

On April 29, 2009 the Annual General Meeting of Shareholders of the Bank Saint Petersburg was held.

In accordance with its agenda, the shareholders approved the Bank’s annual report, annual accounting including balance sheet and profit and loss statements (income statements) of the Bank, and distribution of profits (in particular, payment of dividends) of the Bank according to the reporting 2008 fiscal year results.

OJSC “BDO Unicon Severo-Zapad” was approved as the Bank’s auditor of reporting under the Russian accounting standards for the year 2009.

The General Meeting of Shareholders made the decision on payment of dividends for 2008 on the ordinary and preferred shares in the amount of 11% of such shares’ nominal value. Aggregated sum of dividends paid is RUR 33,247.5 thousand.

By the voting results, a Supervisory Board of the Bank Saint Petersburg was elected with the following persons on its list: Indrek Neivelt, Alexander V. Savelyev, Elena V. Ivannikova, Maxim Y. Vorobyov, Vladimir A. Gariugin, Sergei B. Eganov, Vyacheslav A. Zarenkov, Andrei T. Ibragimov, Felix V. Karmazinov, Nina V. Kukuruzova, Dmitry E. Troitsky.

In 2008, the composition of the Supervisory Board changed insignificantly as a new member, Maxim Vorobyov, joined the Supervisory Board and Dmitry Korzhev left the Board.

Indrek Neivelt was elected the Chairman of the Supervisory Board.

Alexander Savelyev, the Chairman of the Management Board, commented on the Bank’s YE 2008 results: “In spite of the unfolding crisis in 2008 the Bank managed to perform with strong operational results. We’ve successfully met our first priority targets for 2008: to keep the quality of our loan portfolio and to improve our position in the local market”.