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Bond Issues: Domestic bonds URSA Bank, 03

Issue information:

• Issuer, issue number: URSA Bank, 03
• Income calculation:
Enter issue price %
• Type of debt instrument: Domestic bonds
• Type of bonds: Coupon bonds
• Auction type: Coupon
• Placement type: Public offering
• Issue status: redeemed
• Type of placement: public
• Par, currency of issue: RUR, 1 000
• Amount: 3 000 000 000
• Registration date: Apr 27 2006
• State registration number: 40300323B
• ISIN: RU000A0GTHA6
• Day Count Fraction: Actual/365 (Actual/365F)
• Start of placement: Jun 08 2006
• End of placement: Jun 08 2006
• Issue price: 100
• Coupon: 9.6%
• Coupon frequency: 2 time(s) per year
• Settlement Date: Jun 08 2006
• Maturity date: Jun 04 2009
• Issue Managers: Arrangers: GAzprombank, Citibank.
• Trading floor, listing category: MICEX, RU000A0GTHA6 (A1)
• Guarantors: Sibacademfinance
• Additional information: Guarantor: OOO Sibacademfinance
• Investment banks: Bookrunner(s):
Gazprombank
KB Citibank

Co-lead manager(s):
UniCredit Bank
Renaissance Capital
Morgan Stanley Bank

Underwriter(s):
ING Commercial Banking Russia
National Bank Trust
Nordea Bank
Russian Agricultural Bank
Tatfondbank

Borrower:

• Issuer:URSA Bank
• List of affiliated companies: MDM Bank
• Full issuer name:URSA Bank (previously Commercial Bank Sibakadembank)
• Country:Russia
• Web site:http://www.ursabank.ru/
• Other issues of the issuer (including related companies issues):  URSA Bank, 06 - Domestic bonds
 URSA Bank, 02 - Domestic bonds
 URSA Bank, 2008 (LPN) - Eurobonds
 URSA Bank, 01 - Domestic bonds
 URSA Bank, 09 - Domestic bonds
All issues of the issuer
• Issuer profile:Sibakadembank was renamed URSA Bank in December of 2006 due to the merger of Sibakadembank and Uralvneshtorgbank.

OAO URSA Bank is the largest Russian regional bank with foreign ownership ...
• Industry:Banks and financial institutions
Issuer ratings: » rating history

Moody's Investors Service Ba3/Positive Int. Scale (foreign curr) 04.12.2008
Fitch Ratings B+/Positive Int. Scale (foreign curr.) 26.03.2009
RA Rus-Rating BBB/Stable International scale 10.08.2009
National Rating Agency A+ National scale (Russia)

Complete profile
• Ôèíàíñîâàÿ îò÷åòíîñòü ïîðó÷èòåëåé: Sibacademfinance

Payment schedule:

# Date Coupon, % p.a. Coupon size, RUR Par redemption, RUR
1 07.12.2006 9.6 47.87
2 07.06.2007 9.6 47.87
3 06.12.2007 9.6 47.87
4 05.06.2008 9.6 47.87
5 04.12.2008 9.6 47.87
6 04.06.2009 9.6 47.87 1 000.0

COMMENTS:

27.09.07 ING Commercial Banking Russia:
CIS Fixed Income Daily
- Fitch raised outlook on URSA Bank to “Positive”
(Russia) EURO|BONDS|MM|CURR

11.05.07 ING Commercial Banking Russia:
URSA-3 and URSA-5: too-tight pricing despite additional share issue
OMK: another step to co-operation with Gazprom
Moody’s changes Mobile TeleSystems’ outlook to positive
(all countries) EURO|BONDS

12.03.07 ING Commercial Banking Russia:
• Demand for rouble funds puts pressure on the market
• URSA Bank releases 2006 results
• President Putin clarifies primary fiscal targets and budgetary policy for 2008-10
(Russia) EURO|BONDS

01.02.07 ING Commercial Banking Russia:
• Liquidity expected to bloom
• More debt from URSA Bank
• Russia’s GDP growth accelerated from 6.4% in 2005 to 6.7% in 2006; we are optimistic about results for 2007-08
(Russia) EURO|BONDS

13.10.06 FK URALSIB: Uralsib Fixed Income Weekly:
- Sibacadem-5
- United Europe
(Russia) BONDS

26.05.06 Gazprombank: Eglish version of our credit&pricing research Sibacadembank (Russia) BONDS





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