BALANCE SHEET
as of October 1, 2004
Shareholding commercial Udmurtinvestbuilding Bank
LICENCE      2447      BIK:  049401863
Bank address: 69, Krasnoarmeyskaya Str., Izhevsk 426003, Russia				in thousands Rubles
	ASSETS
1.	Funds & accounts at the Central Bank of Russia			34540
2.	Reserves at Central Bank of Russia			3664
3.	Assets at credit institutions excluding provisions (items 3.1.-3.2.)			3164
3.1.	Assets at credit institutions			3164
3.2.	Provision for possible losses			0
4.	Net investments in securities(items 4.1 – 4.2)			0
4.1.	Investments in securities			0
4.2.	Provision for possible devaluation of securities and losses			0
5.	Loan and-loan related indebtedness			114818
6.	Provisions for possible loan losses			1347
7.	Net loan debt (items 5 – 6)			113471
8.	Accrued charges (cum past due charges)			1
9.	Net investments in securities before redemption (items 9.1.-9.2.)			0
9.1.	Investments in securities before redemption			0
9.2.	Provision for possible losses			0
10.	Fixed assets & intangibles, economic materials & low-value & fast-wearing objects			17386
11.	Net investments in securities available for resale (units 11.1.- 11.2.)			5
11.1.	Securities available for resale			210
11.2.	Provision for possible devaluation of securities and losses			205
12.	Future expenses adjusted into accumulated interest income			798
13.	Other assets excluding provisions (13.1.-13.2.)			154
13.1.	Other assets			190
13.2.	Provision for possible losses			36
14	Total assets:  (items 1 + 2 + 3 + 4 + 7 + 8 + 9 + 10 + 11 + 12+13)			173183
	LIABILITIES
15.	Deposits from the Central Bank of Russia			0
16.	Deposits from credit institutions			0
17	Clients' deposits			137121
17.1.	Including deposits of individuals			79547
18.	Future income on other operations			2
19.	lssued promissory notes			10045
20.	Other liabilities			640
21.	Provision for possible fixed term operations losses, off-balance liabilities and accuonts with debtors
	in operations with residents of off-shore areas			752
22.	Total liabilities:  (items 15 + 16 + 17 + 18 + 19 + 20 + 21 )			148560
	EQUITY CAPITAL
23.	Statutory capital (shareholders' (participants') capital) (items 22.1 + 22.2 + 22.3)including:			7130
23.1	Registered equity shares & contributions			6850
23.2	Registered preference shares			280
23.3	Non-registered capital of banks wich are not JSC			0
24.	Equity shares purchased from shareholders			0
25.	Emission income			0
26.	Capital & profit retained by a credit institution			7056
27.	Re-estimation of fixed assets			10328
28.	Profit (loss) of the period under review			3229
29.	Dividends out of the profit of the current year			0
30.	Distributed profit (except dividends)			407
31.	Retained profit (items 28 - 29 - 30)			2822
32.	Exenses & risks, affecting owned assets			2713
33.	Total equity capital (items 23 – 23.3 – 24 + 25 + 26 + 27 + 31 – 32 – for profitable credit unstitutions),                 (items 23 – 23.3 – 24 + 25 + 26 + 27 + 28 – 32 – for unprofitable credit unstitutions)			24623
34.	Total liabilities:  (items 22 + 23.3 + 33 )			173183
	OFF- BALANCE LIABILITIES
35.	Credit institution's irrevocable liabilities			7260
36.	Guarantees, issued by credit institution			0
	Trust management operations were not carried out withing the reporting period
Head of Shareholding commercial Udmurtinvestbuilding Bank                                                 A.I.Shestov			(sign)
Chief Accountant of Shareholding commercial Udmurtinvestbuilding Bank                       G.V. Kuznetsova			(sign)