Creditor Banks Can Get Financed by the RF Central Bank under Belon’s Liabilities

In accordance with the resolution of the Board of Directors of the Bank of Russia dated April 23, 2009 and with the letter of the RF Central Bank No. 60-T dated May 5, 2009 “On the List of Companies”, OAO Belon has been included in the list of companies the liabilities of which may be accepted by the RF Central Bank as a bank security in obtaining loans.

Inclusion of OAO Belon in this List indicates reduced risk level for creditors of the Group, and suggests an effective government support mechanism backed by the RF Central Bank.

This fact is based on the positive evaluation given by the Central Bank of Russia to the crisis management programme that is being implemented by Belon Group to preserve liquidity and financial stability under conditions of the world economic crisis.
 
Inclusion of the Company in the List of the RF Central Bank is not only a formal procedure, but also a proof of the sufficient level of Belon Group‘s creditworthiness in the current situation. This fact is supposed to accelerate, among other factors, restructuring of the Company’s current credit portfolio, and to contribute to the reduction of its debt load in the times of economic slowdown.