Publication of Prospectus

Publication of the Prospectus

The following prospectus has been approved by the UK Listing Authority and is available for viewing:

Prospectus dated February 14, 2011, relating to an offering by JSC VTB Bank of 1,046,054,133,732 ordinary shares in the form of offer shares and GDRs.

To view the full document, please paste the following URL into the address bar of your browser.

 http://www.rns-pdf.londonstockexchange.com/rns/1888B_-2011-2-14.pdf

For further information, please contact

Investor Relations:Tel.: +7 495 775 71 39Email: [email protected]

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Prospectus may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Prospectus is not addressed. Prior to relying on the information contained in the Prospectus you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above requirement.