Bondholder Proposal


Bondholder Proposal

Following the previous communication on 25 February 2009, Egidaco Investments
PLC (“Tinkoff”), the parent company of ‘Tinkoff. Credit Systems' Bank (TCS Bank)
informs Bondholders that the Proposal has now been sent. 

Details of the proposal and timelines are now available on Tinkoff's website -
http://www.eginvestments.net 

For additional information 

Oliver Hughes, President						
tel: +7 495 648 1000						
e-mail: o.hughes@tcsbank.ru 			

Ilya Pisemsky, CFO	
tel: +7 495 648-1000 
e-mail: i.pisemsky@tcsbank.ru

web: www.eginvestments.net/


Bank 'Tinkoff. Credit Systems' is Russia's first monoline bank, specialising
exclusively on the issuing and servicing of credit cards.  The bank was founded
by the famous Russian entrepreneur, Oleg Tinkov.  In October 2007, the
international investment bank Goldman Sachs became a shareholder.  

TCS Bank uses modern CRM and risk management systems.  The bank employs a remote
service model, providing virtual banking services of the highest quality to its
customers.  Service is provided to customers through a sophisticated Call
Centre, Internet, SMS banking and by mail through the Russian Postal system. 
The combination of a narrow focus with a hi-tech approach gives the bank a
distinct competitive edge in the rapidly growing Russian credit card market.