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12.10.2011

Announcement from the Board of Directors of EXIAR

The first meeting of the Board of Directors of the Russian Agency for Export Credit and Investment Insurance took place on 21 October 2011.

The Board of Directors approved the Agency's management personnel, and the following were appointed to the Management Board: Andrei Zagorsky, Mikhail Karyakin, Alexander Reprintsev, and Mikhail Sinelin. The work of the Agency's Management Board will be headed by CEO of EXIAR Peter Fradkov.

The Board of Directors have appointed Ernst & Young as auditor of EXIAR.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in October 2011. EXIAR’s mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. EXIAR’s sole shareholder is Vnesheconombank. The Agency’s charter capital is RUB 30 billion (approx. USD 1 billion).