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February 16, 2009

CyberPlat® and Sobinbank facilitate payment acceptance for clients

The largest payment system CyberPlat® jointly with Sobinbank (a member of Gazprom group), which has a widely spread branch network throughout Russia consisting of 109 branch offices in 30 cities, offer the clients (dealers) of the CyberPlat® company a convenient possibility to ensure payment acceptance.

One of the problems of the merchant companies and networks of payment terminals is impossibility of instantaneous top-up of their accounts with the clearing bank of the payment system because the bank transfers from one credit institution to another cannot be performed in the real-time mode. Besides, under the conditions of instability in the financial market, bank transfers can be carried out with a considerable delay. In response to this problem, the clearing bank of the CyberPlat® payment system – Platina Bank - launched a co-project with Sobinbank.

A client of the CyberPlat® payment system can open an account with Sobinbank at its nearest office and credit this account with the sales proceeds. At the same time, the client will issue Sobinbank a payment order for transferring the deposited amount to Platina Bank. Thanks to availability of a special correspondence account of Platina Bank with Sobinbank, this transaction will be performed very fast regardless of how the offices of the Central Bank of the Russian Federation operate. As a result, the funds deposited by the client will arrive online on the client’s account which is intended for accepting payments made in favour of the telecommunications operators and service providers.

Using the above-described scheme will enable the clients of the CyberPlat® payment system to top up in the amount sufficient for continuous payment acceptance without necessity of diversion of additional circulating assets.

CyberPlat® payment system always cares for its partners’ convenience” — the Executive Director of CyberPlat® OJSC, Vladimir Kuznetsov, stated. — “Thanks to the co-operation with Sobinbank, our clients will be able to ensure the continuity of payment acceptance without diversion of additional circulating assets and escalation of costs..

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CyberPlat OJSC is the leading Russian Internet company offering its services in the e-commerce segment, including payment processing and secure online document interchange. The company’s product CyberPlat®, the versatile multibanking integrated internet-payment system, is the absolute leader in the payment acceptance market. Currently, the CyberPlat® cash acceptance network consists of approximately 400,000 points worldwide which accept cash payments for the benefit of the leading telecommunication service providers, commercial television and numerous service providers, including Beeline, MTS, MegaFon, Tele2, NTV-Plus and many others. The total turnover of the system comprised 120.7 billion rubles in 2007. The CyberPlat® electronic payment processing system is the member of GSM World Association. BDO Unicon is the official auditor of CyberPlat®.

OAO Sobinbank is represented in each federal district of the Russian Federation. The total number of the presence cities is 30 including Moscow. The network consists of 24 branches and 85 standalone subdivisions including supplementary offices and operating cash desks, as well as fifty point of presence. More than 200 ATMs are placed throughout the country. There are 26 bank offices in Moscow and more than 300 ATMs have been placed in the city. Following the results of the first half of the year 2008, the Bank has occupied the 39th place by the size of its assets in the Interfax-100 ranking made by Interfax CEA. As of October 1, 2008, the equity of OAO Sobinbank comprised 8.4 billion rubles. The international rating agency Moody's Investors Service has assigned to Sobinbank a credit rating at the B3 level with forecast “positive”. RusRating Agency has assigned to Sobinbank a BB- credit rating, forecast – “stable”.

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