Egidaco Investments plc, the parent company of TCS Bank, makes an offer to buy its Eurobonds

Egidaco Investments plc, the parent company of TCS Bank, makes an offer to buy
its Eurobonds

Egidaco Investments plc ("Tinkoff"), the parent company of "Tinkoff Credit
Systems" Bank (TCS Bank), announced today that it has launched a program to
purchase a limited amount of its own Eurobonds. 

This offer is available for a limited period and is made on the following
conditions:
1) the target price is 35% of the nominal value of the Bonds;
2) potential sellers should communicate their intention by 20 March 2009 by
e-mail to the contacts below;
3) offers of sale will be satisfied in the order in which they are received by
the Company (i.e. on a "first-come-first-served" basis);
4) the total maximum consideration for the Eurobonds purchase by Tinkoff under
this program will be EUR 2.5 mln (excluding accrued interest).

Tinkoff has a broker and custody accounts in Marfin Popular Bank Public Co Ltd
(Cyprus) (http://www.laiki.com)

For further details of the program please contact:

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

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. In September
2008, Vostok Nafta Investments Limited also 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.