Presentation 2007. 2 Contents Company Profile _3 Shareholders Structure_4 Board of Directors _5 Management Structure_6 Executive Summary _7 Key Figures_8.

Presentation

2007

2

Contents

Company Profile _3

Shareholders Structure _4

Board of Directors _5

Management Structure _6

Executive Summary _7

Key Figures _8

Key Developments _9

Strategy__ 11

Competitive Advantages 12

Market Positioning ___________ 13

Clientele Base 14

SME Lending 16

International Activity 18

Assets Quality 19

Loan Portfolio 20

Customer Accounts 21

Bank’s Share in Tatarstan Banking Market 22

Branch Net 23

Contact List 24

3

Company Profile

Full name Joint Stock Commercial Bank “Spurt” (Open Joint Stock Company)

Established December 1992, as a bank focused on small and medium businesses

Status Authorized bank of OAO Gazprom on the territory of the

Republic of Tatarstan

Types of licences General Licence to perform banking operations No. 2207 of 22.03.2006.

Licences of professional participant of securities market for dealing, asset management, custody, brokerage operations of 29.04.2003.

Membership

in associations and unions

Member of the Interregional Banking Group of Gas Industry

Member of SWIFT

Associate member of VISA payment system

Participant of Moscow International Currency Exchange

Participant of the Nizhny Novgorod Currency and Stock Exchange

Member of the Banking Association of Tatarstan

Auditors Deloitte & Touche CIS (IAS)

ООО Bankovskiy Audit (Russian accounting standards)

In 2007, European Bank for Reconstruction and Development became alargest single shareholderof Spurt Bank

4

Shareholders Structure

• EBRD 28.2%

• OOO Gaz-Market 19.8%

• OAO Nizhnekamskneftekhim 14.1%

• OOO Bistel 10.0%

• OOO Technoservise-M 7.4%

• OOO Airus 7.4%

• Evgenia Dautova 5.8%

• ZAO Gazprombank 3.0%

• Others 4.3%

The bank’s Shareholders are the largest enterprises and companies of financial, refinery and gas sector

The main goal of the Bank's activity is: To increase the value of shareholders' investments

5

Board of Directors

Rinat Khanbikov Chairman of the Board of Directors

Director General, ZAO Tatgazinvest

Kamil Abdoullin Deputy Director General, ZAO Tatgazinvest

Yevgeniya Daoutova CEO

Juri Katz Vice President, Head of Regional Business Department,

ZAO Gazprombank

Rashit Sakhapov Director General, ZAO IKhK Tatgazinvest

Aidar Soudiyarov Director General, ZAO Regional Fuel and Energy Company

Ildar Gainoutdinov Head of Financial Department, OAO Nizhnekamskneftekhim

Ilfar Yakhin Chief Accountant, OAO Nizhnekamskneftekhim

6

Management Structure

Management Structure is divided to Sales, Management and Support Units

7

Executive Summary

Spurt Bank doubled its financial results in 2004 and maintained stable activities in 2005 and 2006

European Bank for Reconstruction and Development acquired a 28.25 percent stake in the capital of Spurt Bank

Formulated and adopted long term development strategy and financial goals in the partnership with EBRD

Improved Bank's structure on the basis of international consultancy recommendations to support business growth

International audit of financial accounting since 2003

25 April 2007 Fitch Ratings has assigned Spurt Bank ratings at Issuer Default 'B-', Short-term 'B', Individual 'D/E', Support '5'. The Outlook for the Issuer Default rating is Stable.

Adopted development strategy and reengineered structure aimed to support business growth and to enhance thecompetitiveness of the Bank

8

Key Figures

Total Assets in 2006 increased by 33% to RUR 7.2bn. (USD 271.9 mio) –

RUR 5.4bn. (USD 191.0 mio) for 2005

• In 2006 net loans increased by 51% to RUR 5.1bn. (USD 194.0 mio) –

RUR 3.4bn. (USD 120.6 mio) for 2005

• Successful launch of the first bond issue in the amount of RUR 500 million, EBRD, KfW and RosBR credit lines for total amount RUR 540 million enabled the bank to increase it’s loan portfolio for corporate customers and SME sector.

• Despite increase of provisions for the grown loan portfolio

Net Profit of 2006 amounted to RUR 128.6 mio (USD 4.8mio) -

RUR 126.5 mio (USD 4.5mio) for 2005

• Capital for the end of 2006 reached RUR 1,093 mio (USD41.5 mio)

- dividends paid for 2005 amounted to RUR 80 mio

• Country ratings of 2006 168 per net assets (“RBC - rating”) 148 per capital

136 per balance profit• Local ratings among Tatarstan banks 5 per total assets

(“National Bank of RT of Central Bank of Russia”) 5 per capital

4 per balance profit

Bank essentially increased its profit and assets in 2004

Both in 2004 and 2005 the return on equity and assets of the Bank washigher than the Russian banks' average

Financial results are calculated according to IAS at the exchange rate of the Central Bank of Russian Federation on the dates indicated

9

Key Developments

Assets Growth

272m $

191m $

144m $

99m $

58m $

0

1

2

3

4

5

6

7

8

2002 2003 2004 2005 2006

RUR, bn Capital Volume

41,5m$36m$37m $35m $

17m $

0

0,2

0,4

0,6

0,8

1

1,2

2002 2003 2004 2005 2006

RUR, bn

Financial results are calculated according to IAS at the exchange rate of the Central Bank of Russian Federation on the dates indicated

10

Key Developments

Credits less LLR

271,9m$

120,6m $

86,5m $

68m $

30m $

0,0

1,0

2,0

3,0

4,0

5,0

6,0

2002 2003 2004 2005 2006

RUR, bnProfit

4,8m $4,6m $4,4m $

2,5m $

0,6m $

0

20

40

60

80

100

120

140

2002 2003 2004 2005 2006

RUR, m

Financial results are calculated according to IAS at the exchange rate of the Central Bank of Russian Federation on the dates indicated

11

Strategy

• Principal activity

Universal Bank, Independent from any Banking or Industry Groups

• Key financial figures

Capital / Assets ratio - not less 12%, not more 15%

Operation expenses / Operation Income ratio – not more 45%

ROE – not less 12%

• Main principle of business

Working with target client groups - Selling fixed range of profitable products

• Leading criteria for client selection

customer’s ability to utilize wide range of bank products

• Regional policy

Expansion of Branch net mainly as selling outlets for retail banking with the form of credit-deposit office. Serving of corporate sector through Head Office, except for particular customers served in specialized branches.

• Relations with shareholders

Main aim - transformation of bank shares into marketable assets

High development potential, sustained by strong capitalization with capability of its growing

The principles of transparency and legitimacy form the basis of interrelationsbetween the Bank and its partners, regulatory bodies and the society

12

Competitive Advantages

Marketing:• Deliberate concentration of main operations volume on relatively tight territorial and

industrial segment of the market• High efficiency in response on customer’s queries due to the quick decision making • High corporate and professional culture with clear employee incentives

Cost control• Individual responsibility for current expenses as a result of adopted budgetary policy

Risk Management• Personal and managerial independence in risk management. Evaluation of risks before

and during transactions • High processibility of risk management leads to service efficiency • Building of risk management, finance and business-planning systems in accordance with

regulating requirements of international finance institutions (New Basel)

Transparency• Preparing interim and annual IAS financials audited by well-known international audit

company for increasing transparency and international relations development. Regular accountancy and distribution of dividends for shareholders, high quality of corporate management

Strong shareholder’s support in business and clientele base growth

Low level of overhead charges, moderate personnel quantity

Small dependence from volatile interbank market

13

Market Positioning

Spurt Bank aims to be one of the leading independent corporate banks in Volga Region

The Bank's business relies exclusively on commercial approaches

Investment Bankingfunding for

investments projects from capital markets and

fixed income sales instruments

Retail Banking• Private banking for Top

management of corporate customers

• Salaries and credit banking card programs for corporate clients employees

• Wide range of services for mass customer

---------------------------------- • Instrument for diversifying of funding base

Corporate Banking • Basic product• Competitive pricing • Wide range of loans and

overdrafts• Leasing and factoring• Trade and project finance-------------------------------------• Main source of income• Broadening of clientele base

owing to business partners of corporate customers

• Additional funding of active operations

• Cross-selling of products

Financial Markets• Asset management mainly for Insurance

companies and Pension funds • Fixed income trading • Equity brokerage • FX and Money Market -------------------------------------• Managing liquidity and

market risks of the Bank• Funding instrument for bank

operations • High potential in increasing

of fee and commission income

SME Lending•Potential source of income growth supported by international and Russian funding•Product of demand throughout the branch net•Instrument for diversifying the assets structure

14

Clientele Base

Main Bank's counterparties: enterprises of gas, petrochemical and chemical industries, mechanical engineering, construction, large trading companies, transportation companies and enterprises of light and food industries

Gas and Energy Industry: Tatgazinvest, Tattransgaz, Liquefied Gas, KazEnergo

Refinery and Chemicals production: Nizhnekamskneftekhim, Kazanorgsintez, Kazan Synthetic Rubber Plant

Construction Industry Kazdorstroy, Koulon-stroy, Fon, Altair, IKhK Tatgazinvest

Machinery construction KAMAZ, Kazan Helicopters, Kazan Aircraft Production Association, Santekhpribor

Transport Tatflot Shipping Company, Kazan Aviation Enterprise

“Tatarstan” Airlines

Insurance Rosgosstrakh Tatarstan, Industrial Insurance Company, Sogas Insurance Company

Light and Food Industry Tatarstan Sete (milk producing association), Safian

Trade Industry Tatnefteproduct Holding Company, Smile (original distributor of Proctor & Gamble), Volga Natur Produkt, TD Orgsintez, Tatmetall, DOMO

Finance Companies Regional Fuel & Energy Company

Tatarstan - one of the most economically developed Republics of the Russian Federation. Main wealth - crude oil.

Leading industries: oil-production, chemical and petrochemical sectors, aircraft construction, shipbuilding, production of cars and trucks, mechanical engineering.

At present one of the main sector of clients is fuel-energy complex, oil refinery and chemical industries.Diversifying it’s business Spurt bank actively develops the relationship with construction, aviation, light and food industries, trade and finance companies, small and medium enterprises.

15

Clientele Base

Corporate partners of the Bank included in the list of100 largest Russian companies :

Areas of cooperation

OAO Gazprom Payment of dividends on shares of OAO Gazprom in the Republic of Tatarstan

OAO Nizhnekamskneftekhim Settlements performance, servicing of contracts in foreign exchange, working capital loans

Participating as a co-underwriter in placement of 3rd issue of the company's bonds

OAO Kazan Helicopters Settlements performance, working capital loans

OAO KAMAZ Participating in the program of debt securities circulation, crediting of dealers

16

SME Lending

• In June 2004 the Russian Development Bank owned by Russian Fund for Federal Property opened a credit line to Spurt Bank to the amount of RUR 57mio (US$2 mio equivalent). The funds received by the Bank under this credit line were used to provide credits to small and medium enterprises in the Republic of Tatarstan under a specialised programme by the Ministry of Finance of the Russian Federation for support of small and medium business. The total volume of disbursed funds under this program exceeded RUR 200mio.

• On September 30, 2005 Spurt Bank, first from the Tatarstan banks, signed a Loan agreement with the European Bank for Reconstruction and Development for receiving a four-year senior loan of RUR 280 million (equivalent of USD 10 million) for on-lending to SMEs operating in the Republic of Tatarstan. For the first time in Russia the loan was granted in Rubles. The transition impact potential of this project arises mainly from its support of a transformation of a regional bank operating in the Republic of Tatarstan into a bank operating according to best practice standards of corporate governance and business conduct. The project aimed to support the bank’s diversification strategy and promote competition within the local banking market

• In October 2005 Spurt Bank concluded an agreement with EBRD to implement the Energy Efficiency Projects Financing module in the framework of the SME Credit Line of European Bank for Reconstruction and Development. This new initiative of EBRD in Russia includes a free Energy Audit service and is aimed to help Russian companies to decrease the energy costs and protect the environment.

• On September 12, 2006 Spurt Bank signed a Loan agreement with KfW Bank, Germany on the seven-year loan of USD 8 million for on-lending to local SMEs. The last tranche was disbursed in April 2007.

European Bank for Reconstruction and Development

and

KfW Bank

are the partners of Spurt Bank in the programs of SME Lending

17

SME Lending

• As of 18.04.2007 the SME Loan portfolio amounted to 775 mio. Rubles (12% from the Total Loan Portfolio - 6 411 mio. Rubles). 26% of the SME loans were disbursed using the EBRD technology. At present the monthly average increase of the SME loan portfolio is more than 50 mio. Rubles and the amount of SME loan portfolio at the end of the 2007 is planned to be more than 1 bln. Rubles.

• Beginning from May 2006 a specialized business department aimed to work with SMEs was established in Spurt Bank. It includes the SME Division in the HO and six regional departments in the branch net (Kazan, Naberezhnye Chelny, Nizhnekamsk, Volzhsk). The number of such departments up to the end of 2007 planned to be increased up to 10.

• Partners of the Bank in SME lending:

- EBRD - USD 10mio loan

- KfW - USD 8mio loan

- Russian Bank for Development - 200 mio. Rubles

- State Investment –Venture Fund of the Republic of Tatarstan Татарстан

(Bank is approved in three joint programs of SME support).

18

International Activity

Main Correspondents: Commerzbank AG , Frankfurt Ost-West Handelsbank AG, FrankfurtBank Austria Creditanstalt, Vienna

• Strategy Broadening of customer base and service range by development of trade financing

• Obtained medium and long term credit facilities on ECA covered base– 1.2 mio USD Loan from World Business Capital under ExIm bank’s policy– 3mio Euros approval of buyer’s credit facility from HERMES

• Trade facilities received from international and Russian banks – 4 mio USD Trade Facilitation Program for 1 ½ years of EBRD – 1 mio USD trade credit line from VTB Bank Deutschland for 1 year– 1 mio USD trade credit line from Gasprombank for ½ year

• Long-term loans received from international banks USD 10mio loan from EBRD for SME financing for 4 years USD 8mio loan from KfW for SME financing for 7 years

• State approvalsState Customs Committee included “Spurt” Bank to the register of banks, whose guarantees are accepted by customs bodies of the Russian Federation with increased total limit of 5 mio Euros

Servicing contracts of well known Tatarstan exporters constitutes the main part of international operations

19

Assets Quality

191m$

144m $

58m $

99m $

0

1

2

3

4

5

6

2002 2003 2004 2005

RUR, bn

Fixed assets

Cash and balances withthe Central Bank

Due from banks

Securities available-for-sale

Trading securities

Loans and advances tocustomers

Other assets

Financial results are calculated according to IAS at the exchange rate of the Central Bank of Russian Federation on the dates indicated

SPURT Bank aims to maintain the ratio of Liquid Assets to Total Assets of not less than 20% percent and ratio of Liquid Assets to deposits maturing up to one month of not less than 100% percent

20

Loan Portfolio Maturity Breakdown 2003 – 2004

121m $

89m $

71,5m $

0

500

1 000

1 500

2 000

2 500

3 000

3 500

4 000

2003 2004 2005

RUR mio

1 year to 5 years

3 month to 1 year

1 month to 3 months

Up to1 month

Maturity Up to1 month

1 month to 3 months

3 month to 1 year

More than 1 year

Loans and advances RUR mio.

to Customers USD th.

664

23.6

267

9.5

709

25.2

1 746

62.2

Financial results are calculated according to IAS at the exchange rate of the Central Bank of Russian Federation on the dates indicated

21

Analysis of Customer Accounts by Industry

68m$

58m $

32m $

20m $

0

200

400

600

800

1 000

1 200

1 400

1 600

1 800

2 000

2002 2003 2004 2005

RUR, mio

Manufacturing

Engineering

Transport and communication

Real estate

Trading

Insurance and Finance

Non-for-profit organizations

Gas

Chemical industry

Individuals

Other

Financial results are calculated according to IAS at the exchange rate of the Central Bank of Russian Federation on the dates indicated

Deposit structure became more diversified, retail deposits share increased significantly to 39% of total deposits, concentration grade on single clients went down

22

Bank’s Share in the Tatarstan Banking Market

Bank’s position on the Tatarstan Banking market as of 01.01.2006All amounts shown in RUR millions according to Russian Accounting Standards

Tatarstan Republichas the 5th placefor total number of banks among Russian regions

As of 01.01.06 in Tatarstan:

•27 banks

•106 bank’s branches, including

•48 branches of banks, registered outside the republic(41 from them - of Sberbank)

23

Branch Net

Branches and outlets of Spurt bank as of 15.04.2007

Head office – 2, Spartakovskaya Str. Zhilstroykredit Branch – 67А Vosstaniya Str. Finansovy outlet – 4 Butlerov Str.Azinsky outlet – 3А Zakiyev Str.Vakhitovsky outlet – 59  Karl Marx Str.Sovetsky outlet – 23 Sybirsky trakt Str.

Nizhnekamsky Branch – 53 Prospekt Khimikov  Str.Nizhnekamsky outlet – А-12 Manufacturing zone of JSC

Nizhnekamskneftekhim

Chelninsky outlet – 14 Academika Rubanenko Str.

Mendeleyevsky outlet – 9 Octyabrskaya Str. 

Volzhsky Branch – 2 Transportnaya Str

KAZAN City:

Nizhnekamsk City:

Naberezhnye Chelny City:

Mendeleyevsk City:

Volzhsk City (Mary Ell Republik):

24

Contact List

Contacts Position/Sector Phone Fax E-mail

Eugenia Dautova CEO 7 8432 915 000 7 8432 915 015 [email protected]

Juri Nikishev Deputy CEO

Finance

7 8432 915 035  7 8432 915 015   [email protected]

Roustem Gimatov Deputy CEO

Retail Banking

7 8432 915 144 7 8432 915 015 [email protected]

Kirill Shaikhutdinov Treasury

Director

7 8432 915 002  7 8432 915 013  [email protected]

Alexei Zemlyakov Vice President International Banking

7 8432 915 104  7 8432 915 017  [email protected]

Our Address:

2, Spartakovskaya Street

420107 Kazan

Russian Federation

Tel: +7 843 2 915 000

Fax: +7 843 2 915 015

Telex: 224547

Answ.back SPURT RU

SWIFT: SPUR RU 2K

Our Web Site: www.spurtbank.ru