as the Council`snew executive management firm effective July 1, 2009. Shareholders that chose the stock dividend alternativewere required to notify the Company between June 10 and June 24.Analyst & Investor RelationsFlorence Triou-Teixeira, +33-1-47-62-45-19;Etienne Humbert, +33-1-47-62-30-49;Vivien Dardel, +33-1-47-62-44-29.Press RelationsSophie Chevallon, +33-1-47-62-30-48.SOURCESaint-GobainAnalyst & Investor Relations: Florence Triou-Teixeira, +33-1-47-62-45-19;Etienne Humbert, +33-1-47-62-30-49; Vivien Dardel, +33-1-47-62-44-29 PressRelations: Sophie Chevallon, +33-1-47-62-30-48.. They will carryrights to the 2009 dividend and will rank pari passu to existing shares fromthe issue date. An application will be made for the new shares to be listedon NYSE Euronext Paris on July 2.The share issue will have the effect of increasing Compagnie deSaint-Gobain’s share capital as of June 29 to EUR2,052 million, representedby 512.9 million ordinary shares with a par value of EUR4 each, all fullypaid and all in the same class.Cash dividends will also be paid on July 2, for a total of EUR171.3million.During the Annual General Meeting of June 4, Saint-Gobain shareholdersapproved payment of a 2008 dividend of EUR1 per share and the option toreceive the dividend in cash or in Saint-Gobain shares issued at a price ofEUR22.83 per share. Russia’s central bank expects bad loans for the sector as awhole will not exceed 10-12 percent this year, but some bankersand analysts say the figure could be at least twice as high (Editing by David Cowell, Greg Mahlich) Russia.

COURBEVOIE, France, June 29 /PRNewswire-FirstCall/ — Saint-Gobainshareholders responded favorably to the dividend reinvestment option, with64.8% of the total dividend to be paid in stock. This high reinvestment rate,which attests to shareholders’ confidence in the Group’s strategy andlong-term growth outlook, allows Saint-Gobain to strenghten its equity byEUR315 million.A total of 13.8 million new shares will be issued, equivalent to 2.8% ofoutstanding shares.The new shares will be issued and delivered on July 2. So I’m a jerk too,” he said, adding:”We are making a profit in the current environment but we erasethat profit by creating provisions However … not all themoney which we put into provisions will be lost.” VTB’s larger rival, Sberbank (SBER03.MM), has also beenincreasing provisions, but said last week it would remainprofitable this year [ID:nLQ404794].

“The only way out for you, gentlemen, is to resign and stopembarrassing yourselves,” Vladimir Sinyakov, one of some 500small shareholders at the AGM, told Kostin Other shareholdersalso regularly interrupted Kostin “I was hypnotised. Two top state officials, Kostin and Putinwere calling on me (to buy shares) I don’t want to lose mymoney. I don’t want to be a jerk,” one of the minorityshareholders shouted at Kostin Kostin took a philosophical approach “I also bought shares. Two years later VTB’s shares are trading at around onequarter of their placing price. “Andone shareholder suggested I go to hell, so God and I will beparting ways.” VTB was among top Russian state firms and banks which placedshares amid the market boom in 2007, promising good returns tothose taking up so-called “peoples’ IPOs” thanks to their solidfinancial positions and state support.

“The absence of a loss this year is unlikely,” VTB’s ChiefExecutive Andrei Kostin told the bank’s annual general meeting. VTB, which is planning to sell up to 9 trillion shares inOctober, said it might not get by without a second issue nextyear if the economy worsens and provisions increase.[ID:nLD639847] “Only God knows,” Kostin told reporters after the AGM. FEELING LIKE A JERK VTB (VTBR.MM), Russia’s second biggest lender, said onMonday the proportion of bad loans in its credit portfolio hadtripled since the start of the year to 6 percent and provisionsfor such debt were likely to tip it into a loss in 2009. “I call on the heads of banks with state participation …– Sberbank (SBER03.MM), VTB (VTBR.MM), Gazprombank,Rosselkhozbank, VEB — first of all I call upon you,” Putin tolda government meeting at which the bank chiefs were also present. “The loan portfolio this year should be increased by no lessthan 150 billion roubles in July, by another 150 billion roublesby September 1, and by October 1 (the sum of the increasesshould reach) 400-500 billion roubles ($12.9-16.1 billion).” Russia is discussing a plan for the government torecapitalise banks by issuing OFZ treasury bills to boost thebalance sheets of the biggest banks [ID:nLJ220449], which havebeen hit by non-performing loans.