Corporate Communications

VTB Capital signs Memorandum of Understanding (MOU) with State General Reserve Fund of the Sultanate of Oman

30 September 2009

VTB Capital announced the signing of a Memorandum of Understanding with State General Reserve Fund of the Sultanate of Oman to establish a Russia centric real-estate co-investment program.

The MOU was signed between VTB Capital and Oman State General Reserve Fund by Yuri Soloviev, President and Global CEO of VTB Capital and Warith Al Kharusi, Chief Executive of State General Reserve Fund. The goal of this MOU is to establish a co-investment program where the two institutions will focus on making investments in the Russian Real Estate sector. Masroor Haq, Head of Middle East and Africa for VTB Capital, Mr. Ghalib Al Busaidi, Director Investments and other senior members of both organizations were present at the occasion.

Yuri Soloviev, President and Global CEO of VTB Capital said: “We are delighted to enter into a MOU with State General Reserve Fund of the Sultanate of Oman. We look forward to working together in this respect. VTB Capital’s Middle East and African operations which were launched earlier this year have been instrumental in facilitating greater cooperation between clients and investors in both regions - . Russia and the Sultanate of Oman offer very attractive investment opportunities for the international community and this MOU is a reflection of that’.

Warith Al Kharusi, Chief Executive Officer of the State General Reserve Fund of the Sultunate of Oman added: “We are pleased to start a relationship with VTB Capital and VTB Group - the Investment Business of VTB Group which, we believe, will add a lot of value to our initiatives in Russia. We are also excited about investing in the Russian Real Estate Sector which has the potential to offer above average returns. We look forward to broadening our relationship with VTB Capital as well as investing in other opportunities in Russia”.


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