Tinkoff has Fulfilled all Conditions Precedent under the Eurobond Revision Process

Egidaco Investments PLC (“Tinkoff”), the parent company of ‘Tinkoff Credit Systems’ Bank (TCS Bank), is pleased to announce that the Agent, E. Öhman J:or Fondkommission AB, has confirmed that all Conditions Precedent have been satisfied. This means that the new structure, as approved by Bondholders, is in force.

The Agent informed Tinkoff that the relevant Conditions Precedent were satisfied as of the Signing Date (11 June 2009) and the Implementation Date (15 June 2009). We are therefore pleased to announce to our bondholders that this issue has now been successfully closed. On behalf of its Shareholders and Management team, Tinkoff would like to express its gratitude to all Bondholders for their patience and support during a protracted revision process. Bondholders may also be interested to know that Tinkoff has recently entered into an FX hedge in order to mitigate downside risks.