Egidaco Investments PLC, the Parent Company of TCS Bank, sends out an Amended Bondholder Proposal

Egidaco Investments PLC (“Tinkoff”), the parent company of ‘Tinkoff Credit Systems’ Bank (TCS Bank), announced today that the slightly amended Bondholder Proposal and Voting Notice have been sent today.

The vote for last Bondholder Proposal was unanimously in favour. However, as per the press release issued on 30 April 2009, drafting errors in the Consent Solicitation Memorandum meant that the Company was unable to fulfill its Conditions Precedent and complete the process. Unfortunately, the only way to resolve this situation is to hold a new Bondholder Vote. The Company sincerely apologises for this error and for any inconvenience this may have caused. Once Bondholder approval has been received by way of a ¾ majority vote in favour, and the implementation process has been completed, the Company will make the necessary payments on 24 June 2009. This will consist of two lots of semi-annual coupon and the first amortisation payment. Full details of the Proposal are available on Tinkoff’s website – http://www.eginvestments.net