Magister & Partners Advised Credit Suisse and UBS Limited as Joint Lead Managers of the USD 95 Million Eurobond Offering by Ukreximbank

February 15, 2006

Magister & Partners advised Credit Suisse and UBS Limited as Joint Lead Managers of the issuance of loan participation notes due 2016 for the sole purpose of funding a subordinated loan to Joint-Stock Company "The State Export-Import Bank of Ukraine" (Ukreximbank), the state-owned and currently the sixth largest bank Ukraine in terms of total assets. The USD 95 million subordinated loan is intended to qualify as Tier 2 capital of Ukreximbank.

Magister & Partners acted as Ukrainian legal counsel with White & Case LLP advising Joint Lead Managers as to English law. Magister & Partners transaction team was led by Yevhen Korniychuk, Senior Partner and head of Banking & Finance Practice of the firm, assisted by Associates Tetyana Grischenko and Kseniya Zanuda.

In September 2005, Magister & Partners advised Credit Suisse and UBS Limited as Joint Lead Managers of the issuance of USD 250 million 6.8% loan participation notes due 2012 for the purpose of financing a loan to Ukreximbank. In September 2004 and February 2005, Magister & Partners also advised Dresdner Bank AG and UBS Limited as Joint Lead Managers of the issuances of USD 250 million 7.75% loan participation notes due 2009 and USD 40 million subordinated loan participation notes due 2010 for the purpose of funding respective loans to Ukreximbank.