OFFICIAL COMMENT OF PSN GROUP

15/12/2017

Dear colleagues, partners and clients,

As reported by the press office of the Bank of Russia, we wish to inform you that the Bank of Russia plans to participate as an investor using the funds of the Banking Sector Consolidation Fund. These measures are aimed at increasing the financial stability of Promsvyazbank and ensuring the continuity of its operations on the banking services market.

The Bank of Russia will provide funds to the Bank to maintain liquidity, which will increase its financial stability and further the development of the lending institution.

The Bank is continuing its normal operations, fulfilling its obligations and making new transactions. The Bank of Russia will provide financial support to the Bank to guarantee the continuity of its operations, given the bank’s systemic importance.

We also wish to inform you that PSN Group is carrying out its business operations as usual. All of the company’s development projects are financed either from the PSN Group's own fund or from the borrowed funds of partner banks: . Sberbank, MKB and Zenit Bank. Construction of all of the Group’s development projects is proceeding according to the approved schedule. The first completed project – the elite I'M on the Garden Ring development – received permission for commissioning on December 12, and in January 2018 the clients of the quarter will receive the keys to their new apartments. Construction of the facility was completed six months earlier.

Press office of PSN Group

PR Department

PSN Group

+7 (495) 363 2023

pr@psngroup.ru