National Bank TRUST 1st Quarter 2007 Status Update

2 Disclaimer This presentation has been prepared and issued by National Bank TRUST. This publication is intended for professional and institutional customers. Any information in this presentation is based on data obtained from sources considered to be reliable, but no representations or guarantees are made by National Bank TRUST with regard to the accuracy of the data. The opinions and estimates contained herein constitute our best judgment at this date and time, and are subject to change without notice. This presentation is for information purposes, it is not intended to be and should not be construed as an offer or solicitation to acquire, or dispose of any of the securities or issues mentioned in this presentation. National Bank TRUST and/or its subsidiaries may use the information in this presentation prior to its publication to its customers. National Bank TRUST or its employees may also own or build positions or trade in any such securities, issues, and derivatives thereon and may also sell them whenever considered appropriate. National Bank TRUST may also provide banking or other advisory services to interested parties. National Bank TRUST accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this presentation.

3 NBT’s profile Products: Full range of commercial banking services to corporate and private clients with primary focus on Retail and SME loans to corporate and individual customers as well as to federal and municipal governmental entities in Russia, Key Clients: Mass Retail segment, Trade and Service Industries, SME; Current Geographical Coverage: Strong presence in cities with population of over 100,000 and satellite towns of large cities Strategic Goal: In the next two years to become a TOP 5 Russian retail and SME bank in Russian regions with high growth potential based on size of assets number of clients coverage of branch network NBT in figures: 31/03/07 IFRS (RUB mln.) unaudited  Total Assets:  Net profit: 81  Shareholders’ equity: 4,419  Loan portfolio: 27,834 Branch Network as of 1 st of April, offices in 81 cities of Russia Current work in progress on 44 offices, with 15 planned to open by July 2007 Employees: 5,860 Ratings:  “B1”, outlook “Positive” by Moody’s  “B-”, outlook “Stable” by Fitch

4 Ist Quarter 2007 Snapshot Financials Raised sub-debt by issuance of 5.5 year CLN for Usd 20 million Achieved all major budget targets for the quarter People Hired 331 people Implemented SAP-HR system branch-wide, for HR Management and remote learning Trained 823 staff, mainly in sales Systems Upgrades implemented for Front Office retail products Systems enhanced in readiness for securitisation Automation of Mortgage back office process under testing Network Expansion Opened 6 Offices in Armavir, Kovrov, Nizhny Tagil, Komsomolsk-na- Amure, Kursk and Kazan

5 Financial Overview by IFRS Q07 Actual (unaudited) 1Q07 Budget Capital 3,5454,1934,3374, 4194, 544 Assets 29,71539,360 44,66948,05741,781 Loans (gross) 9,55317,262 25,93429,11727,987 Loan / total assets, % 32%44% 58%61%67% Amount due to customers 22,25730,564 34,86838,34934,444 Net operating income 2,3193,615 4,2841,2341,396 Pretax profit Net interest margin ,512,6 ROAA ,7 ROAE ,46,8 Cost / Income before provisions Cost / Income CAR Key indicators, RUR mln Key financial ratios, % Headcount 2,698 3,505 5,529 5,860 6,173

Q07Target 2007 (Post-capital injection) ROAA ,71,0 ROAE ,49,8* Cost / Income CAR Key financial ratios, % * - 12,6% pre-capital injection

7 Assets structure 29,715 48,057 39,360 44, Q07 27,834 9,005 16,379 24, Q07 Increasing loan portfolio in assets structure 2006 vs.1Q07 Total assets. RUR mln. Loan portfolio. RUR mln Budget 68, Budget 53, Budget

8 Loan portfolio structure Changes in loan portfolio structure Q07 93% of retail and SME business is conducted in the Regions 2007 Budget

9 Liabilities structure Funding structure 1Q Budget

10 4Q063Q Retail Banking Retail deposits, RUR bln. Retail portfolio size (RUR bln.) Number of clients in portfolio (thousand) 1Q062Q061Q07 1Q062Q063Q06 4Q06 1Q07 Term depositsCall depositsCardsCashAuto CashAutoCardsMortgage B Q B B First Quarter Developments: Planned volume numbers achieved Launch of Application Credit Cards and open market Cash Loans in whole network Implementation of motivation system for senior level sales staff

11 SME Banking Type Loan Size, US$ thsd Duration mths Yield, % Average Loan size US$ thsd Microup to 50up to 24up to Small up to 36up to Medium ,000up to 36up to SME portfolio size (RUR mln.) SME Loans structure as 1Q ,403 3,842 5,988 10,977 1Q062Q063Q064Q061Q072007B , , , Q062Q063Q064Q061Q072007B Number of clients 1Q budget First Quarter Developments: Planned budget numbers achieved Issued first “Medium” Loan Increased sales to 53 offices (49 in Dec 06)

12 Corporate Banking First Quarter Developments: As planned, loan portfolio stable Focus on new segmentation Cross sold 2 deals with IBT Corporate loans (RUR bln.) Corporate deposits (RUR bln.) Term depositsCall deposits Q B Q B