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Titan Group 25/10/2006

Titan Group gets loan from Credit Swiss to refinance investment projects in Western Siberia

Press release 24 October, 2006, Omsk

Omsk, Russia-based Titan Group has signed a loan agreement with the London division of the Credit Swiss bank. The USD 75 mln credit agreement is for 3 years, with an option for a further 3-year extension. The loan was backed by Kazakhstan’s TuranAlem bank. OOO Titan Group will use the raised money to refinance its petrochemical investment projects in the Omsk region. To fund these projects the group had been using loans from Russian banks. ”Partners’ confidence, investment appeal, transparent ownership structure and good credit history are the key factors behind the intentions of European investors to cooperate with Titan. The contract with a large Western bank is the natural continuation of the holding company’s development program,” — says Mikhail Sutyaginsky, Director General of Titan Group.

Notes for editors:

OOO Tiatan Group is one of the leading petrochemical companies in Russia and the largest Russian producer of MTBE. Titan is a general investor of the rubber producer OAO Omsky Kauchuk and an owner of ZAO Ecooil. In September 2006, the company opened the first CIS bioethanol complex, Biokhim, in Kazakhstan. The group is also building a PP integrated plant and going to commission the first Russian bioethanol complex in Western Siberia. The company was established in 1989 in Omsk.

Credit Swiss is one of the most well-known international investment banks. For over 8 years Credit Swiss have been heavily investing in large private and state projects in Russia, Ukraine, Kazakhstan and other CIS countries.

Press Service of Titan Group

For additional information, please send a request to press@titan-omsk.ru