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Former Global Head of AIG Consumer Finance to Chair IMB Group Board

Kiev, June 15, 2006. IMB Group Ltd., Ukraine’s leading pure-play consumer lending platform, announced today that Mr. Joel Epstein, the current Chairman and CEO of AIG Consumer Finance Group, Inc, will join IMBG’s Board of Directors as non-executive Chairman upon his retirement in July 2006. In conjunction with the appointment, Mr.Epstein will be making a personal investment into the shares of IMB Group.

As the Head of AIG Consumer Finance, Mr. Epstein was responsible for AIG’s consumer lending operations in USA, Poland, Hong Kong, Taiwan, Mainland China, Thailand, Philippines, Mexico and Argentina. The major AIG CFG products include credit cards, mortgages, unsecured personal loans, sales finance, auto loans, and deposits. In 2002-05, Mr. Epstein served concurrently as AIG Country Manager for China, based in Shanghai. Mr. Epstein joined AIG after a distinguished 24-year career at Chase, from which he retired in 1998. At the time of his retirement he was an Executive Vice President. He started his career at Chase’s Head Office in New York in 1974. From 1976 to 1984 he worked in Taiwan as a commercial loan officer and in Mainland China as Chase’s country manager. He returned to the US in 1984 to move into the Consumer Banking area. Since 1984, he has held numerous positions at Chase including President of Chase Personal Financial Services (jumbo mortgages and home equity), President of Chase Auto Finance (auto dealer finance, auto loans and leases), Latin America Regional Executive for Consumer and Private Banking, Retail Banking Executive for Manhattan branches, Retail Marketing Executive, and International Consumer Finance Executive. Mr. Epstein holds a BA (1967) and MA (ABD, 1971) from Princeton University, where he completed the Russian Studies program. He speaks Russian, Chinese, French, and Spanish.

Commenting on his appointment, Mr. Epstein said: “I am tremendously excited to be joining the Board of IMB Group and am honored to have been selected as a Non-Executive Chairman. As the only pure play consumer finance platform in Ukraine, without legacy problems, IMBG has the potential to set the gold standard for good corporate governance, product quality, customer service, and shareholder returns. I believe that the market potential in Ukraine is enormous, and expect the consumer finance industry in Ukraine to expand rapidly for years to come. I am looking forward to playing a role in IMBG’s growth and development.”

Mr. Gregory Krasnov, IMB Group CEO, said: “We are very excited about Mr. Epstein’s decision to join us. We believe that our success in attracting someone of Mr. Epstein’s caliber to the non-executive Chairmanship role serves as a validation of our strategy, and will give additional comfort to our investors. Mr. Epstein’s decades of senior emerging markets consumer finance experience will be an incredible asset to the Group from the point of view of strategy, know-how, and financing.”

IMB Group Ltd. is Ukraine’s leading pure-play consumer lending platform, offering mortgages, POS loans, credit cards, and deposits. IMB Group owns 100% stakes in IMB, a mortgage bank, and Family Credit, a consumer lending intermediary. IMB Group is backed by Horizon Capital, Ukraine’s leading private equity fund manager.