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London, England, December 5, 2006 – Sochi 2014, candidate city to host the 2014 Olympic and Paralympic Winter Games, took center stage today as a unique investment project with the total support of the Russian Government and public at the 13th International Russian Banking Forum in London , counting over 300 senior executives in attendance.

The Russian Government has committed an investment of USD 12 billion into the development of the Sochi region, to create a world-class resort destination with state-of-the-art infrastructure and accommodation to welcome the Olympic Family in 2014.

The public-private investment, called the Federal Target Programme, promises an unparalleled legacy for the Sochi region and nation as a whole. Along with creating a centre of winter sporting excellence, for use during competitions and training, the economic benefits promise to create a better quality of life and social cohesion throughout Russia.

In addition to Government backing, Sochi 2014 also enjoys the support of the Russian people, with over 63 per cent considering it a national priority.

Sochi 2014 CEO Dmitry Chernyshenko said:

“Sochi 2014 represents a gateway to the future of Sochi and all of Russia, and Government support is vital in making this a reality. A 2014 Winter Games in Sochi would present a once-in-a-lifetime opportunity to transform the nation, bringing about social, economic and structural change. Sochi 2014 is delighted to be a part of the discussions at the Russian Banking Forum, demonstrating the Government’s commitment to the future of this country.”

The 13th International Russian Banking Forum is being held this year from December 4-7 and will include presentations, round tables, networking opportunities and focus groups, looking at topics such as risk management in Russian financial institutions, capitalisation strategies and the investment potential of Russian Banks.