Vladimir Antonov Withdraws From Investbank

By Convers Group Management Company, PRNE
Tuesday, March 15, 2011

MOSCOW, March 16, 2011 - Convers Group Management Company has announced today that Vladimir
, Chairman of the Board, sold his controlling stake in Investbank
(40.04% of the bank's common shares) and withdrew from the bank.

After the sale of Mr. Antonov's stake the following changes have occurred
in Investbank's shareholder structure:

- Kompaniya Martis LLC has increased its stake in the bank from 0.7% to
17.7% (common shares)

- Paritet Invest LLC has increased its stake in the bank from 2.22% to
6.27% (common shares)

- DentStil LLC, a new shareholder, has bought 19% stake in the bank
(common shares)

In February 2011 at Vladimir Antonov's request the Supervisory Council of
Investbank relieved Vladimir Antonov, First Deputy Chairman of the Management
Board of Investbank, of his duties. His father Alexander Antonov, President
and Chairman of the Management Board of Convers Group, Member of Supervisory
Boards of Latvijas Krajbanka and Bank Snoras, also withdrew from Investbank's
Supervisory Council.

Vladimir Antonov stressed that the sale of his whole stake in Investbank
marks a successful, strategic and mutually profitable completion of a deal
which had been planned by its participants in accordance with their business
plans and which was concluded as a result of efficient negotiations to the
satisfaction of both parties. According to Mr. Antonov the proceeds from the
sale of his share will drive the development of his business internationally
in profitable and fast developing sectors. It will allow him to focus on his
business and its efficiency. He also added: "Being an international financial
organization, Convers Group plans to use its growing financial potential to
attract foreign investments in Russia, focusing on the most promising
industrial and business sectors. We do not doubt that the new owners of
Investbank will reap high profits and will act in the interests of the bank's
shareholders and clients to whom we wish success and prosperity."

Sergei Mendeleyev, a shareholder of Investbank representing the interests
of the new group of shareholders, stressed that the bank's development
strategy selected by its former owner and aimed at formation of a strong
universal credit organization will not be changed significantly as it already
proved its efficiency. Mr. Mendeleyev added: "We are fully satisfied with the
deal and we thank Vladimir Antonov for his long strategic management and for
his decision to sell the bank to us. We will do our best for further steady
development of Investbank."

About Convers Group

Convers Group Management Company, an international financial group
chaired by Vladimir Antonov and Alexander Antonov, includes a number of
European banks (Bankas SNORAS and Finasta, Lithuania; Latvijas Krajbanka,
Latvia, and Conversbank, Ukraine), Banco Trasatlantico S.A., Panama, and few
other financial and industrial companies. An aggregate value of the assets
managed by Convers Group amounts to US$7 billion.

Contacts: Alexei Kiselev, Advisor, Convers Group, tel. +7-495-411-6811 ext. 2763

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