Presentation July 2009

Overview 2

3 Bank of Moscow’s Key Strengths and Investment Highlights 3 rd place by volume of retail deposits* provides reliable and stable funding base Moody’s: Baa1 Fitch: BBB- 5 th largest bank in Russia in terms of total assets* Well-diversified and solid client base of large corporate, SME and retail clients Extensive distribution network in Moscow and key Russian regions *Source: magazine Kommersant Dengi (№11) figures as of 1 January, 2009 Strong risk profile Track record of strong support from the City of Moscow – the largest shareholder

Shareholder Structure 4

The City of Moscow has been the largest shareholder of the Bank since the Bank was established in 1995 Companies of the Capital Insurance Group hold 15.28% of the Bank’s share capital. Capital Insurance Group is controlled by the City of Moscow and the Bank of Moscow Group. Mr. Andrey Borodin, Chairman of the Management Board, and Mr. Lev Alaluiev, Deputy Chairman of the Board of Directors, indirectly jointly control 21.18% of the Bank’s share capital. Since 2004 Bank’s shares are traded on MICEX. The recently completed 13 th share issue is under registration with the CBR to boost the capital by RUB 20 bn Controlled by the City of Moscow 5 Controlled by GCM Russia Opportunities Fund (Cayman Islands)

Business Overview 6

Current and deposit accounts Loan services Mortgages Debit and credit cards Money transfers Internet and telephone banking Internet trading (“Mos-broker”) Corporate lending Syndicated loans Trade finance and guarantees Foreign trade and exchange operations Debt Capital Markets (Local and International) Payment and account services Securities trading Precious metals Depositary services Underwriting Research Private asset management services Fund management services Mutual and pension funds Private Banking Business Lines 7 Corporate and Investment BankingRetail Banking Asset Management & Private Banking

Business Overview Emphasis on the further increase of risk management efficiency Rigorous control over the asset quality Credit risk diversification and strengthening of underwriting standards Prudent Risk Management Policy Retail Banking Increase and diversify the customer base Maintain high quality of the loan portfolio coupled with a rise in cross selling Provide flexible services and solutions to customers to address the current market environment Corporate Business Increase and diversify the customer base Maintain high quality of the loan portfolio Provide flexible services and solutions to customers to address the current market environment PRESERVE ASSET QUALITY AND EFFICIENCY AND MAINTAIN CURRENT MARKET POSITION Business Efficiency and Market Positions Offer services to wealthy individuals in line with international standards Private Banking 8 Business Strategy Branch Network Retain positions in the regions Use the regional network to diversify client and risk concentration Increase business efficiency Maintain leading positions in the national banking industry Tighten control over the quality of all business processes, costs and expenses

Top Russian Banks by Capital (US$, bn*) Bank of Moscow’s Market Position* *Source: magazine Kommersant Dengi (№20) figures as of April 1, 2009 Exchange Rate RUB/USD 33,9032 (Source: Central Bank of Russia) as of April 1, ,76 Top Russian Banks by Net Assets (US$, bn*) 203,35 9 Business Overview 91,29 Top Russian Banks by Retail Deposits (US$, bn*) Top Russian Banks by Loan Portfolio (US, $bn*) 10,81 160,25 104,76

Ratings Reflect the Credibility of the Bank* Business Overview A2 A3 Baa1 Baa2 Baa3 Ba1 Ba3 A A- BBB+ BBB BBB- BB+ BB BB- B+ Ba2 10 *Senior Unsecured Eurobond Ratings

Business Overview No. 3 retail deposit taker in Russian Federation*  US $5.1 bn of term deposits and current accounts as of 31 December 2008**  Approved by CBR to participate in the Deposit Insurance System  Authorised bank of the Deposit Insurance Agency to manage retail accounts of the banks with withdrawn licences Over 9.6 mn retail customers as of 31 December, 2008 compared to 8.2 mn as of 31 December, 2007*** As of 1 January, 2009, 11 mn plastic cards issued compared to 8.6 mn as of 1 January, 2008* Total retail loan portfolio – US $ 3.85 bn as of 31 December, 2008** Variety of deposit accounts designed for different categories of retail customers Wide range of services targeted at the inhabitants of the City of Moscow, including Muscovite Social Cards issued in partnership with VISA International. The Muscovite Social Card is a Visa Electron integrated plastic card that is a combination of a bank debit card, an identification card, an insurance identification card and Moscow public transportation travel card Self-service zones inside retail locations and offices throughout the country to allow customers to get services from ATMs such as credit payments, transfers, deposits, utility and mobile communication payments, etc. Advanced Internet and Telephone banking All underwriting operations and credit procedures are centralized to be processed at the Head office Retail Banking 11 *Source: Kommersant Dengi (№20) figures as of April 1, 2009 **Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) ***Source: Bank of Moscow as of December 31, 2007 * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Business Overview Over corporate and public sector customers as of 31 December, 2008* Focus on stable sectors of Russian economy Corporate banking dominates the asset side of the balance sheet*:  gross corporate loan portfolio of US $11.9 bn (RUB bn) as of 31 December, 2008**  involved in financing key City of Moscow projects Developing banking products and services targeted at SME clients Increasingly active in trade financing Provides payment services to commercial and public sector clients through branch network Corporate and Investment Banking 12 *Source: Bank of Moscow as of December 31, 2008 **Source: Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) The Bank offers a variety of investment banking services, including:  underwriting  debt issuance  research  asset management Starting from 2004 the bank has issued bonds for 145 issuers reaching a total of RUB 434 bn (USD $18.5bn)* * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Business Overview 133 outlets and 471 desks at postal offices in Moscow and Moscow Region * 64 regional branches and 184 sub-branches * With total 394 outlets throughout the country - presence in 52 regions of Russian Federation * Foreign subsidiaries in Belarus, Latvia, Estonia, Ukraine, Serbia and Representative office in Frankfurt Moscow-based with Wide Geographical Reach United States of America 13 * Source: Bank of Moscow as of 1 June, 2009 Estonia Petrozavodsk Arkhangelsk Kaliningrad Vyborg St. Petersburg Vologda Kirov Yaroslavl Tula Kursk Rostov-on-Don Krasnodar Sochi Vladikavkaz Astrakhan Orsk Orenburg Samara Saratov Voronezh Nizhny Novgorod Cheboksary Berezniaki Perm Izhevsk Yekaterinburg Tyumen Moscow Omsk Tomsk Kemerovo Novosobirsk Novokuznetsk Kransnoyarsk Irkutsk Ulan-Ude Vladisvostok Khabarovsk Yuzhno—Sakhalinsk Petropavlovsk— Kamchatsky “Moscow-Minsk” (Minsk) “Zarechye” (Kazan) “Latvian Businessbank” (Riga) Poland Byelorussia Latvia Finland Norway Ukraine Turkey Iran Kazahkstan China Japan United States of America Russian Federation Regional Branches Subsidiary and Affiliate Banks “BM Bank” (Kiev) Barnaul Maykop Belgorod Stavropol “Eesti Krediidipank” (Tallin) Orel Volgograd Ufa Yakutsk Velikiy Novgorod Lipetsk Kazan Syktyvkar Kovrov Chelyabinsk

Business Overview Based on recommendations and requirements of CBR, Basel Committee and auditors Single borrower/economic group limits Product type/geographic/industry concentration limits Ongoing monitoring of borrower’s condition and collateral Strengthening of underwriting standards to address the crisis Conservative Credit and Market Risk Policies in Place 14 Credit Risk Limited open foreign currency position, stop-loss, borrower limits Centralised control over exchange rates in currency operations In accordance with CBR regulations, currency risk exposure cannot exceed 20% of the Bank’s aggregate capital in all currencies Currency position is controlled by the CBR on a daily basis Currency Risk Managed with the aid of scenario analysis, simulative, optimising and predictive modelling Strict CBR controls on instant (N2) and current (N3) liquidity standards Monitored on a daily basis Liquidity Risk Measured via gap and interest rate sensitivity models Also employ stress testing and scenario analysis techniques Interest Rate Risk

Business Overview Eurobonds: US$250,000,000 Eurobonds due 2009 RUR 5,000,000,000 Eurobonds due 2009 US$300,000,000 Eurobonds due 2010 CHF 250,000,000 Eurobonds due 2011 US$500,000,000 Eurobonds due 2013 LT2 Debt: US$300,000,000 Subordinated Eurobonds due 2015 US$400,000,000 Subordinated Eurobonds due 2017 Local Bonds: RUR 10,000,000,000 Bond due 2011 RUR 10,000,000,000 Bond due 2013 Bank of Moscow in International and Local Capital Markets 5 senior Eurobonds issued over the last three years and 2 LT2 Eurobond issue 2 placements on the local debt market 4 syndicated Term Loans outstanding In 2008 the Bank of Moscow raised approximately US$1.45 bn from international and local markets 15 Syndicated Loans: US$220,000,000 Syndicated Term Loan due 2009 US$105,000,000 Syndicated Term Loan due 2010 US$600,000,000 Syndicated Term Loan due 2010 US$30,000,000 & EUR105,000,000 Syndicated Term Loan due 2011

Financial Overview * 16 * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Financial Overview Asset Composition (2008)Assets in 2005 – 2008 (US$ million) Overview of Assets* 17 *Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) 100% = US$ mn * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Financial Overview Increasing geographic and sectoral diversification 53% of the Bank’s gross loan book are concentrated in regions** Focus is on fast growing sectors of the Russian economy As of December 31, 2008, related party lending accounted for 1.5 % of the gross loan portfolio of the Bank compared to 2.6% as of 31 December 2007 ** Bank of Moscow ’ s Loan Portfolio Loan Portfolio Breakdown by Industry Sectors (2008)* 18 *Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) **Source: Bank of Moscow as of December 31, 2008 * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Retail Loan Portfolio Breakdown (2008)Retail Loan Portfolio 2005 – 2008 (US$ million) Retail loan portfolio grew by 19.3% since the end of 2007 in USD terms 19 Financial Overview Bank of Moscow ’ s Loan Portfolio (Cont ’ d) *Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Financial Overview Overdue Loans and Allowance for Loans LossesClient Concentration: Twenty Largest Borrowers Bank of Moscow’s Loan Portfolio (Cont’d) 20 Overdue loans comprised 1.13 % of the Bank’s gross loan portfolio as of December 31, 2008 Overdue loans are covered 2.15 times by provisions as of December 31, 2008 Diversified loan portfolio with a 21.7% concentration of top 20 borrowers in the total loan portfolio, which has increased due to slowdown of the economy Loan portfolio is collateralized by 1.9 times *Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Financial Overview Liability Composition (2008)Liabilities in 2005 – 2008 (US$ million) Overview of Liabilities % = US$ mn Strong deposit base is one of the key advantages of the Bank, especially in the recent global liquidity crisis *Source: Bank of Moscow, IFRS Consolidated Financial Statements (31 December, 2008) * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Financial Overview Growth in Deposits (US$ million) Composition of Client Deposit Portfolio (2008) Deposit Base 22 Continued diversification of deposit base with the following sources of funding available: funds of state-owned corporations, City of Moscow and CBR funding By Deposit Type By Customer Type *Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Financial Overview Profit and Loss Income (US$ million)* Profit & Loss Highlights 23 Selected Profitability Ratios* Cost/Income Ratio*Operating Income* *Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB

Financial Overview As of the end 2008, the Bank’s total capital position was sound with a total capital ratio of 13.9%. This is well above the 10% minimum limit set by the CBR Core capital (Tier 1) of RUB 62bn (US$2 516mn) High quality of capital: Tier 1 ratio of 9.5% In August 2008, the 12th share issue for RUB 8.3 bn was finalized. A new share issue has been completed to increase the Tier I capital by RUB 20 bn (approx. USD 650 mn) Capital Base (US$ million)Capital Adequacy CBR requirement Capital Adequacy 24 *Source: Bank of Moscow, IFRS Consolidated Financial Statements (December 31, 2008) * USD\RUB exchange rates of CBR – 2008 USD1 = RUB 29,3804; 3Q 2008 USD1 = RUB 25,2464; 2007 USD1 = RUB ; 2006 USD1 = RUB ; 2005 USD1 = RUB