US Department of Agriculture Opens $<nobr>10-Mln</nobr> Credit Line to TRANSCAPITALBANK

The US Department of Agriculture has officially confirmed TRANSCAPITALBANK’s participation in the GSM-102 program and the decision to open a $10-million credit line to the Russian bank for the 2007 fiscal year. The GSM-102 program supports financing of food and agricultural supplies to Russia and other countries and covers credit terms of up to three years. The GSM-102 program involves 27 Russian banks. The cost of program financing is less than the cost of a common bank credit, which may be provided to TRANSCAPITALBANK on the Russian market.

Source: BANKIR.RU, March 12, 2007