Home Credit Group - one of the leading consumer banking institution - is glad to announce the launch of its operation in Belarus

Minsk, 12/05/2007

Lorobank which has been acquired by Home Credit Group in December 2006 changed its registered name to Home Credit Bank, the banking license permits to extend its banking operations and to launch the consumer banking business in Belarus.

This fact also demonstrates the completion of preparatory period: setting up processes, hiring and training personnel, the number of which at the moment comprises of 165 highly qualified staffers and will be doubled by mid-2008, conducting marketing research to adapt a product offer to recent market opportunities and to potential for further growth, defining the key product characteristics, signing preliminary agreements with over 320 retail companies and implementing unique information technologies to provide faster processing and thus easier access to consumer lending products to Belarusian customers.

"The acquisition of Lorobank was in line with Home Credit Group international expansion strategy. Home Credit Group estimates the Belarusian market as one with strong business prospects. In the near future we aim to become one of the country's leading players in the consumer finance market," says Alexander Labak, Group CEO and Managing Partner of the Home Credit Group.

Since the first week of December the Home Credit Bank in Belarus has offered affordable credit solutions for customers of more than 320 local retailers directly at their points-of-sale.

"In the first year we will primarily focus on consumer lending, providing loans at points-of-sale and revolving credits, notably credit cards. And we aim on building the large portfolio of satisfied customers banking with Home Credit on a long-term basis," explains Igor Dolezel, Chairman of the Home Credit Bank Supervisory Board.

Any loan request is processed in less than 30 minutes and just two documents (for example, passport and driving license) are requested from a customer. Till end-2007 the Home Credit loans will be available in retail commercial chains partnering with the Bank in all six Belarusian regions (Minsk, Grodno, Gomel, Mogilev, Brest and Vitebsk). The major goal for 2008 is to increase the number of partnering retail chains to over 2000.

"Timing to enter the Belarusian market was properly thought. We are the first bank in this country that focuses on the express loans segment. Our products have already passed the test in number of other countries and in Belarus they have been adapted to the local specifics. More than 13 million people in six different countries in CEE and Central Asia have already become Home Credit Group customers and I am convinced we will be able to generate a substantial demand also in here", notes Algerdas Tabatadze, Chairman of the Home Credit Bank Board.

Notes to Editors:

Home Credit Bank (Belarus)

Home Credit Group has acquired "OJSC Lorobank", a small Belarusian bank in December 2006. Having restructured it, the Group changed its registered name to Home Credit Bank. This entity has received the banking license that permits to launch the consumer finance and banking business in Belarus. The Home Credit Bank in Belarus started its operations as of December 1st, 2007.

Home Credit Group

Companies of the Home Credit Group have been operating in the Central and Eastern European as well as Central Asian consumer finance markets and had granted loans in the combined principal of USD 2.7 billion as of 2006 year end. Home Credit Group maintains a leading position in the consumer finance markets of the Czech Republic (entered in 1997), the Slovak Republic (1999), the Russian Federation (2002) and the Republic of Kazakhstan (since December of 2005). Home Credit Group also developed its operations at the Ukrainian market.

The Home Credit Group belongs to the PPF international group of companies which has interests in insurance and consumer finance, and provides complex asset management services. During its 16 years in business, PPF Group has become a leading international financial investor, managing assets of over USD 10 billion as at the end of 2006.

For more information, please contact us on:

Mariya Ponkratova
Head of Marketing (Belarus)
Tel: +79859674273
E-mail: Mariya.Ponkratova@homecredit.ru

Milan Tománek
Head of Group Communications
Tel: (+420) 725 501 741
E-mail: milan.tomanek@homecredit.eu

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12/05/2007