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Sale of Raiffeisenbank Ukraine closed

21 November 2006

Sale of Raiffeisenbank Ukraine closed

Raiffeisen International Bank-Holding AG closed the sale of 100 per cent of its shares in JSCB Raiffeisenbank Ukraine to OTP Bank Plc, Hungary, after all approvals by supervisory authorities had been granted. The purchase agreement had been signed on 1st June 2006.

Raiffeisenbank Ukraine (now CJSC OTP Bank) had a balance-sheet total of more than EUR 1.6 billion at the end of September 2006 and operated from 42 business outlets. The sales price amounts to EUR 650 million. For Raiffeisen International the sale produces an extraordinary gain of about EUR 470 million, which will be entered into the accounts of the fourth quarter.

With the sale of Raiffeisenbank Ukraine, Raiffeisen International did avoid the cost and time-intensive merger with Bank Aval, acquired in 2005, which has been rebranded into Raiffeisen Bank Aval for several weeks now. In addition, the sale accelerates the transformation process of Raiffeisen Bank Aval, namely its full integration into the Group (adaptation of systems, implementation of Group standards). Raiffeisen Bank Aval, which is the second-largest bank in the Ukraine with a balance-sheet total of EUR 4.1 billion and 1,330 business outlets (both figures are from 30th September 2006), will continue to play a leading role in the fast growing Ukrainian banking market.

For further information please contact:

Susanne Langer
Head of Investor Relations
Raiffeisen International Bank-Holding AG
Am Stadtpark 9
A-1030 Wien
phone +43-1-71707-2089