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May 7, 2008

Platina CB is going to be a direct settlement participant of the BESP system

Central bank of Russian Federation has added Platina CB to the BESP system participants as a direct settlement participant.

The BESP system (Banking Electronic Speed Payment) is a real time gross settlement system, which is being created by Central Bank of Russia for accelerating payment settlements of Russian economics. Such systems now operate in more than 80 countries, including all member countries of the European Union and virtually all industrialized nations. In most cases, these systems are owned and operated by the central (national) banks.

BESP system is a system that is centralized at the federal level and performs real time gross settlements of payments for all BESP system participants irrespective of their territorial location.

A credit institution may participate in the BESP system directly or on an associated basis. The direct settlement participants have the opportunity to use all the services provided by the BESP system. The associated settlement participants can use the BESP system to pass a settlement document marked 'express'. Accordingly, the associated participants cannot receive the full range of payment and information services received by the direct participants.

The BESP system ensures the processing of payments during the BESP system operational day, that is, from 2.00 a.m. to 9.00 p.m., Moscow Time. Payment is debited from the payer’s, and credited to recipient’s account with the Bank of Russia’s servicing institution during operational day with the same calendar date as the date on which the payment was processed via the BESP system.

In such a way, Platina CB has the opportunity to accelerate processing of its customers’ payments.

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Platina Commercial Bank was established on October 30, 1992, in Moscow, registered by Central Bank of Russian Federation on May, 20, 1993 (general license of Bank of Russia, No. 2347). The bank is a member of Moscow Interbank Currency Exchange, "Russia" Association. The Platina bank is also a member of SWIFT and the international payment system – VISA (Principal Member). The bank has its own processing center, certified by the VISA International payment system. The Platina bank participates in deposit insurance system (accepted in 2004 among the first newly established Moscow banks). Bank statutory fund makes up 63.03 mln rubles; shareholders' equity totals 421 mln rubles for the 1st of January, 2008. The assets, for the 1st of January, 2008, have been made 6 628 mln rubles. The Platina bank is a settlement bank of its own integrated payment system – CyberPlat (www.cyberplat.com).

CYBERPLAT OJSC is the leading Russian Internet company offering its services in the e-commerce segment, including payment processing and secure on-line document interchange. The company’s product CyberPlat®, the universal multibank integrated internet-payment system, is the absolute leader in the payment acceptance market. Currently, the CyberPlat® cash acceptance network consists of over 170 000 points of sale, accepting cash payments for the benefit of leading telecommunication service providers, commercial television and numerous other service providers nation-wide, including Beeline, MTS, Megafon, Tele2, NTV-Plus and many others. The total turnover of the system amounted to 120.7 billion rubles (or 4.74 billion US dollars) in 2007. The CyberPlat® electronic payment processing system is the member of GSM Association. BDO Unicom is the official auditor of CyberPlat®.

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