Finance Ministry chooses Citibank as agent for swap deal on ex-USSR's commercial debts

The Finance Ministry of Russia has chosen ZAO Citibank as an agent for aswap deal on the commercial debts of the former USSR. This decision wasmade after a closed tender for agents. The tender was held in accordancewith the federal law on tenders for provision of goods and services for thestate of May 6, 1999. This information was officially published by theFinance Ministry of Russia. The amount of verified commercial debts is $1.1bn as of now. The Eurobondsthat this debt will be swapped for will be issued at the end of Septemberor at the beginning of October 2002. .


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