“Anne's van't Veer's appointment brings a Dutch banker of outstanding international reputation to the helm of the Amsterdam Trade Bank,” says Alfa-Bank's President Peter Aven. “I am very pleased to be returning to the bank,” says Mr Van't Veer. “This is a Dutch Banking institution with strong Russian trading links which has always fulfilled its financial obligations and I believe that with Alfa-Bank's impressive range of products and branches we will be even better positioned to serve our customers. I am looking forward to being a part of the Alfa-Bank Group.”

Before his re-appointment to the board of Amsterdam Trade Bank N.V., Anne van't Veer was Secretary-General of the London-based Berne Union, the International Union of Credit and Investment Insurers and Managing Director of NCM (Nederlandsche Creditverzekering Maatschappij).

Alfa-Bank acquired Amsterdam Trade Bank N.V. in March 2001 as part of its strategy to build a global banking business and enhance its trade and project finance activities. Since its foundation in 1990, Alfa-Bank has developed into Russia's largest privately owned bank, providing a full range of banking services through more than 70 branches across Russia and the CIS. Alfa-Bank also has a FSA registered subsidiary in London, Alfa Securities Limited, and a NASD regulated operation in New York, Alfa Capital Markets Inc. A core holding of the financial industrial consortium Alfa Group, Alfa-Bank has the best credit ratings of any private financial institution in Russia — B3 by Moody's, CCC+ by Standard and Poor's and B- by Fitch.

Alfa-Bank enhanced its reputation during the Russian financial crisis in 1998 by honouring all of its commitments and in 2000 the Bank was the only Russian issuer to repay its outstanding Eurobond in full and on time.

Peter Aven visited The Hague to address the Russia-Netherlands Economic Forum and host a reception to mark the Amsterdam Trade Bank's re-launch. The Russia-Netherlands Economic Forum will be held in The Hague on October 28-29.

For further information please contact:

Van Sluis Consultants

Mischa van de Woestijne
Tel.020-305 59 00