1. Opportunities for Russian Companies On the London Stock Exchange & AIM

2. March 2007 2 Main Reasons for Listing on the LSE Growth Independent Market Expertise Recommendations on how to maximise the value of joining a London market The Exchange: supports capital raising and generates liquidity  supporting customers in maximising shareholder value Capital Raising it efficiently & effectively when required Profile Maximising marketing/PR opportunities Liquidity Increasing and maintaining liquidity

3. March 2007 3 Last 15 Months – Post IPO 13/02/07 27/02/07

4. March 2007 4 Assets Under Management in Major Western Financial Centres London is a global leader in asset management Source: Big Dough, Hemscott (January 2007) 12.7 10.6 5.2 3.7 3.2 2.8 1.6 1.5 1.4 Other Assets ($tn) Equity Assets ($tn)

5. March 2007 5 Source: London Stock Exchange - January 2007 DR Trading on IOB In 2005, IOB total trading turnover was $131bn and in 2006 that number increased to $290bn, a 121% increase.

6. March 2007 6 To summarise… Why choose AIM? International profile World’s most successful growth market Balanced approach to regulation Professional investor base Cost effective

7. March 2007 7 Key AIM Statistics AIM: 1,635 UK: 1,331 International: 304 AIM Market Capitalisation: £94.4 bn AIM IPOs in 2006: 278 UK: 201 International : 77 Capital raised since 1995*: £40.1bn Capital raised in 2006*: £15.7bn UK: £10.3bn International: £5.4bn Source: London Stock Exchange trade statistics – March 2007 * New listings and further capital raises

8. March 2007 8 AIM Money Raised (£bn) Source: London Stock Exchange, March 2007 AIM is more than an IPO market, it provides companies with high quality long term institutional liquidity and the ability to raise further capital to fund future growth

9. March 2007 9 Size Distribution for Companies on AIM (# Companies) The average AIM company market cap is £60 million. The average AIM international market cap is £111.

10. March 2007 10 Top 10 AIM Sectors by Market Cap Source: London Stock Exchange trade statistics – March 2007 AIM is a diverse market spanning 39 sectors

11. March 2007 11 Admission Requirements No minimum size No trading record required No minimum number of shares in public hands No prior shareholder approval required for transactions* Admission documents pre-vetted by nominated adviser Nominated adviser required at all times AIM’s success is built on a balanced regulatory environment, designed to make the floatation process as smooth as possible * In most cases

12. March 2007 12 RankInstitutional InvestorsNo of InvestmentsValue of Investments (€m) 1CDS & Co104,809.84 2Fidelity1601,544.49 3Artemis Investment Management1301,009.36 4New Star Asset Management50976.75 5AMVESCAP84970.99 6Merrill Lynch67887.46 7Cede & Co5886.55 8AXA118839.18 9Gartmore90810.71 10Schroders57747.79 11Goldman Sachs72666.82 12UBS59564.95 13CSFB54564.55 14Lansdowne Partners27545.58 15F & C Asset Management120541.70 Liquidity & Institutional Investors on AIM Source : Growth Company Investor World’s largest institutional investors are all active participants on AIM.

13. March 2007 13 Oil exploration and production Listed on 05 April 2004 Market cap at admission - £2.5mln Market cap today - £788mln Share price has risen by 130% over the past 6 months Case Study 1 - Imperial Energy

14. March 2007 14 Case Study 2 - Aricom Plc Titanium Listed on 31 st December 2003 Market cap at admission - £14mln Market cap today - £304.48mln Share price has risen by 294% since 19 th December 2005

15. March 2007 15 Prospectus Preparation Underwriting & analytical coverage Broker NOMAD Company Short - form report Technology Experts Reporting Accountants Legal reports and negotiations Law Firm (NOMAD’s) Law Firm (Corporate) Public Relations and Investor Relations Listing and trading Services Stock Exchange: AIM Registrar PR firms Independent Researchers LHC £10k CREST Co Source: Oxford Said Business School MBA Project, August 2006 as amended by London Stock Exchange Cost structure for AIM listing The total cost of raising £50m ranges between £2.5-5m (5%-10% cost range) excluding value of options £150-200k plus 1% option 3-5% of the deal, plus 1% option £25k-£50k £100k- £150k £150k-£300k of which Nomad’s Lawyers get 25-40%

16. March 2007 16 Jon Edwards Senior Manager, CIS & CEE +44 (0) 20 7797 1599 jedwards@londonstockexchange.com Zarina Korolova Manager, CIS & CEE +44 (0) 20 7797 4472 zkorolova@londonstockexchange.com www.londonstockexchange.com/aim Contact Details