Alfa Bank’s Board has approved the Bank’s social policy for 2005. This policy will guide all social and charitable activities of the Bank in accordance with Alfa Bank’s traditions in this area and in response to the real needs of Russian society.

Throughout its history, Alfa Bank has perceived its reputation as its most valuable asset and was one of the first among Russian companies to issue a Social report.

“Alfa Bank’s social policy is part of the Bank’s strategy as a whole, focused on rendering highest possible assistance to those groups which are in need of support,” — said Alexander Gafin, a Member of the Bank’s Board of Directors. “Society is expecting more systematic work on the part of businesses for social peace and prosperity”.

In 2005, special attention is to be paid to sponsorship of the “Life Line” charitable support program for seriously ill children and to the Bank’s cooperation with World Wildlife Fund. In the field of public health, Alfa Bank is also planning to render considerable assistance to the Scientific and Practical Center for VHS infected expectant mothers and children treatment. In the areas of art and culture it is proposed to institute the National Literature prize that does not have an analogue in modern Russia.

Alfa Bank is a Trustee of the Bolshoi Theater and a member of the Russian WWF Corporate Club.

The Bank has founded Alfa Chance Program to support the talented youth from Russian regions. Alfa Bank is committed to proceed with the implementation of the Alfa Fellowship Program and is also planning to sponsor international cultural exchange.

“The realization of the Bank’s social policy is under personal patronage of Michael Fridman, the Alfa Group Consortium Chairman of the Board, who is going to make this work more active in all companies of the consortium, — noted Alexander Gafin. We are confident that business is inseparably linked with the society in which it exists, with its problems, and one of its mandatory tasks is to cooperate with the government in helping to solve social problems. The level of social stability, culture and prosperity in Russia is directly linked with businesses’ understanding of their social responsibility. Moreover, we believe that it is in our power to change the society for the better”, — said Alexander Gafin.

Alfa Bank’s backing of national art is one of its primary trends of social activities. Throughout its history the Bank has participated in major projects aimed at the rise and development of the Russian culture, the preservation of artistic and historic values and monuments, and the artistic development of talented youth.

Alfa Bank sponsored Russian art exhibitions in Europe and the USA and has contributed to the appearances of world-famous classic and pop artists in Russia, such as Bejart Ballet Lausanne, Rome’s Teatro dell’Opera, Ray Charles, Paul McCartney, Elton John, Sting, Tina Turner and Eric Clapton.