  In the present work the multiband p-d model for $CuO_2$-layer is treated. It
was shown that for the realistic set of parameters besides Zhang-Rice
two-particle singlet there is non-negligible contribution of two-particle
triplet state to the top of the valence band. Also shown, that to gain
quantitative agreement with experimental data the minimal approximation should
include the spin fluctuations beyond the Hubbard-I scheme. Quasiparticle
spectrum, obtained in this approximation, is in fairly good agreement with
ARPES data on Bi2212 High-$T_c$ compound.
