Atradius and AlfaStrakhovanie sign co-operation agreement for credit insurance in Russia

Amsterdam, Woensdag, 30 mei, 2007

Amsterdam 30 May 2007 - Atradius N.V., a leading global credit insurer, and AlfaStrakhovanie, one of the largest insurers in Russia and part of Alfa Group that also comprises Alfa Bank, have signed a co-operation agreement whereby AlfaStrakhovanie will provide credit insurance in Russia to Atradius clients. Both Atradius and AlfaStrakhovanie envisage expanding the scope of the co-operation to providing credit insurance to AlfaStrakhovanie’s own customers in Russia.

Peter Ingenlath CEO of Atradius commented; “We believe credit insurance in Russia can grow at about a 20% compound annual growth rate over the coming years. AlfaStrakhovanie is one of the leading Russian insurers with a nationwide distribution network and solid growth potential. We believe they have the right combination of market access and desire to help drive growth in credit insurance in Russia. This co-operation agreement enables us to meet the insurance requirements of our existing clients and puts us in a strong position to build new business.”

“In view of the high demand for credit insurance in Russia we need a reliable partner providing insurance coverage not only to SMEs but also to large corporate clients who need re-insurance protection abroad. Co-operation with Atradius, one of the world leading credit insurers, enables us to provide clients with credit insurance products up to the best international standards fully conforming to Russian legislation“, – commented Vladimir Skvortsov CEO of AlfaStrakhovanie Insurance Group.

About Atradius:
Atradius is a leading credit insurer with total revenues of around EUR 1.3 billion and a 24% share of the world credit insurance market. It insures approximately EUR 400 billion of world trade annually against non-payment and provides a comprehensive range of risk transfer, financing and trade receivables management services. With 3,500 staff and more than 90 offices in 40 countries, Atradius has access to credit information on 45 million companies world-wide and makes more than 12,000 credit limit decisions daily. It is “A” rated by Standard & Poor’s (outlook stable) and A2 by Moody’s (outlook stable).

Further information:
Atradius Corporate Communications
Christine Gerryn
Tel.: +31 20 553 2047
E-mail: christine.gerryn@atradius.com

Business Contact at Atradius
Joachim Osinski
Tel.: +49 221 2044 5306
E-mail: joachim.osinski@atradius.com

www.atradius.com

About AlfaStrakhovanie:
AlfaStrakhovanie OJSC is among the top-5 insurance companies in Russia with consolidated authorised capital of EUR 70 million and total revenues of EUR 260 million in 2006. AlfaStrakhovanie is a part of Alfa-Group, one of the largest private financial and industrial consortia in Russia (including Alfa-Bank, TNK-BP, VympelKom, Megafon, Golden Telecom, X5 Retail Group). AlfaStrakhovanie is a full-service insurance company. Licenses for 98 types of insurance lines and products allow to provide customers with complete insurance protection. The company is granted with A++ top reliability rating by Expert RA rating agency.

Further information:
Business Contact at AlfaStrakhovanie
Irina Alpatova
Tel.: +7 495 788 0999
E-mail: alpatova@alfastrah.ru

www.alfastrah.ru

Atradius, een van de leidende kredietverzekeraars en receivables management bedrijven wereldwijd, beschermt jaarlijks handel ter waarde van EUR 350 miljard tegen het risico van wanbetaling. De onderneming met hoofdkantoor in Amsterdam is opgericht in december 2001 na een fusie tussen het Duitse Gerling Kreditversicherung en de Nederlandse kredietverzekeraar NCM. Momenteel is Atradius de op een na grootste speler op de wereldwijde kredietverzekeringsmarkt en het heeft een jaaromzet van circa EUR 1,3 miljard – dit komt neer op een mondiaal marktaandeel van ongeveer 25%. Atradius heeft een ‘A' notering van Standard & Poor's en A2 van Moody's.