Raiffeisenbank Austria launches credit card with a grace period

On February 15, 2006 Raiffeisen announces the launch of a new product - a credit card with a grace period. Until now, credit card with a grace period offered selectively and only to existing customers on the principle of pre-approved credit limit

The initial product will be offered in Moscow, during 2006 we plan to launch credit cards at the location of regional branches of Raiffeisenbank's.

In 2006, Raiffeisen Bank will continue to issue credit cards to existing customers, and will offer credit cards on the principle of pre-approved credit limit. Thus, it is planned that during 2006, all customers of the Bank in Moscow will offer a credit card. In addition, Raiffeisen Bank will be actively offering credit cards to new customers.

"For Raiffeisenbank credit cards are a strategically important product, which in future will contribute to a significant increase in the loan portfolio and further expand its customer base", - said Johann Jonah, Chairman of the Board of Raiffeisenbank. "Credit card can easily find the main line of credit products for individuals. We are planning further dynamic development of the retail business in Russia, especially in connection with the recent acquisition of Impexbank our shareholder, Raiffeisen International.