OREANDA-NEWS. July 14, 2011. An Annual General Shareholders Meeting of MDM Bank, Open joint Stock Company, took place (hereinafter — MDM Bank), at which the following decisions were made:

1. Approving the Annual Report, Annual Balance Sheet, and Profit and Loss Statement of MDM Bank for 2010.

2. Approving the Revision Commission report on the results of inspecting the activities of MDM Bank in 2010.

3. Approving ZAO KPMG as the Auditor of MDM Bank for the year 2011 with regard to the International Financial Reporting Standards. Approving LLC  Altai-Audit-Consulting as the Auditor of MDM Bank for the year 2011 with regard to the Russian Accounting Standards.

4. Approving the allocation of profit (loss) following the results of the year 2011:

as a result of 2010, MDM Bank received a profit amounting to RUB 443,022,000.

the net profit resulting from financial and economic activities of MDM Bank in 2010 totaling RUB 443,022,000 shall be retained at MDM Bank’s disposal.

5. Dividends on the common and preferred shares of all classes for the year 2010 shall not be paid.

6. Electing the Board of Directors of MDM Bank in the following composition, granting the right to sign the Notification of their election filed the Novosibirsk Region Principal Administration of the Bank of Russia to the Bank’s General Director:

Luqman Arnold

Oleg Viyugin

Lars Olof Groenstedt

Alexander Doumnov

Edward Alfred Nassim

Sergey Popov

Sergey Timofeev.

7. Electing the Revision Commission of MDM Bank in the following composition:

Maria Koudinova

Vasiliy Makushev

Olga Ovsyannikova.

8. Determining the number of MDM Bank’s declared common shares as 285,163,460 (two hundred and eighty-five million one hundred and sixty-three thousand four hundred and sixty).

9. Determining the number of MDM Bank’s declared preferred shares as 0 (nil).

10. Determining the number and parameters of Class 3 declared preferred shares to be converted into the common shares of MDM Bank, as specified in the Supplement to the General Shareholder Meeting Minutes.

11. Approving the revised Articles of Association of MDM Bank and granting the right to sign a solicitation to the Novosibirsk Region Principal Administration of the Bank of Russia to approve the revised Articles of Association of MDM Bank.

12. Approving the related party transaction, i.e. MDM Bank BoD members and other officers’ (Management Board Chairman and Members) liability insurance policy, and MDM Bank’s liability, as specified in Schedule 1.

13. Approving the related party transactions of MDM Bank which maу be further executed in the course of MDM Bank’s standard economic activities, as specified in Schedule 2.

14. Approving the related party transactions of MDM Bank which may be further executed in the course of its standard economic activities, as specified in Schedule 3.

15. Approving the related party transaction of MDM Bank, which may be further executed in the course its standard economic activities, as specified in Schedule 4.