Joint-Stock Commercial Bank “BANKank OFof INVESTMENTS AND SAVINGSIinvestments and Ssavings “Investsberbank” (Open Joint Stock Company ОAO) (стр. 6 )

	2004		2003
Prepaid expenses and receivables on other transactions	32,668		9,135
Receivables on loans to customers from FGUP “ФГУПTsaotus” «Цаотус»	13,356		-
Precious metalsReceivables on operations with precious metals	664		5,096
Receivables on transactions with plastic cards	2,633		-
Income tax receivable	4		-
Other taxes receivable	-		874
Other	8219,590188		5,16184
	415548,9262278876		15,1723
Less allowance for losses on other assets	(340)		(48)
Total other assets, net	54148,593862536		15,12075

Movements in allowances for losses for the years ended 31 December 2004 and 2003 are disclosed in Note 5.

198. DEPOSITS FROM BANKS

	2004		2003
Demand deposits	9,326		13,932
Timeermime deposits	-		14,727
Total deposits from banks	9,326		28,659

As at 31 December 2003 and 31 December 2004 Bank had no accrued interest expense on deposits from banks.

2190. CUSTOMER ACCOUNTS

	2004		2003
Timeermime deposits	2,186,810		928,109
Demand deposits	1,956,145		2,024,746
Accrued interest expense on customer accounts	27,181		19,093
Total customer accounts	4,170,136		2,971,948

Analysis of customer accounts by industry:

	2004		2003
Individuals	2,8223,143258		1,765,118
Trading	502,643		531,018
Construction	166,275		160,416
Finance and investments	159,429		80,867
Services	150,244		199,241
Science, education and IT	133,348		80,762
Real estate and rent	93,117		32,406
Manufacturing and mechanical engineering	33,959		8,637
Marketing and advertising	20,764		37,614
Transport and communications	18,100		18,171
Insurance	15,099		13,562
Publishers, polygraphy and mass media	6,174		7,571
Food industry	4,754		2,944
Finance lease	3,394		5,022
Timber and pulp and paper industry	-		3,098
Other	13,51212,397		6,408
Accrued interest expense on customer accounts	2767,181066181		19,093
Total customer accounts	4,170,136		2,971,948

201. DEBT SECURITIES ISSUED

Debt securities issued consisted of the following:

	2004		2003
Discount promissory notes	670,931		327,431
Interest bearing promissory notes	300,000		220
Non-discount/non-interest bearing promissory notes	14,737		92,157
Accrued interest expense	28,698		6,804
Total debt securities issued	1,014,366		426,612

Discount on the promissory notes is amortized over the life of the note and is recorded in interest expense on debt securities issued using the effective interest rate method.

221. PROVISIONS FOR POSSIBLE LOSSES ON LEGAL PROCEEDINGS

As of 31 December 2004 Bank created provision amounting to RUR 12,315 thousand for possible losses due to a legal proceeding initiated by CJSCZAO “Akkor”, claiming demanding to recover RUR 12,315 thousand on its settlements account. The money was written off from current account unlawfully, according according to payment orders received through “Internet – Bank-_Client” System, due to unlawful activity of a third party, that System, as a result of faked-upwith false signature and seal on the System service agreement. TInvestigation of the criminal case is going under investigationongoing.

223. OTHER LIABILITIES

	2004		2003
Taxes payable, other than income tax	7,386		671
Other payables	2,090		2
Bonuses liability	631
OtherSalaries payables to employee	1,13267		713
Other	2,858		41
Total other liabilities	142,232447		7827

243.  SHARE CAPITAL

The share capital authorized, issued and fully paid as of 31 December 2004 comprisednsisted of 47,799,600,000 common shares with par value of RUR 0.01 each. In the year 2004 the share premium was converted into share capital in full in amount of RUR 314,035 thousand, and the amount of share capital was also increased due tofrom reserves amounted RUR 14,196 thousand.

As at 31 December 2003 share capital authorized, issued and fully paid comprised of 18,3,00,000,000 common shares with par value of 1 RUR 0.01 each. The share premium represents capital contribution proceeds in exceeds of shares’ par valueTaking into account inflation. The sshare premium totaled RUR 314,035 thousand.