  We review and update the branching ratios for the $B \to (\rho,\omega)
\gamma$ decays, calculated in the QCD factorization approach in the
next-to-leading order (NLO) in the strong coupling $\alpha_s$ and to leading
power in $\Lambda_{\rm QCD}/m_b$. The corrections take into account the vertex,
hard-spectator and annihilation contributions and are found to be large.
Theoretical expectations for the branching ratios, CP-asymmetry, isospin- and
$SU (3)_{\rm F}$-violating ratios in the $B \to \rho\gamma$ and $B \to
\omega\gamma$ decays are presented and compared with the available data.
