London Stock Exchange for companies from Cheliabinsk region

November AGENDA Why London? –Reasons for listing –Managed assets –Main Market or AIM? Main Market –International listings comparison –Seasonality –DR trading on the IOB –Top 10 companies traded on the IOB AIM –Capital raised –AIM growth –Total AIM IPOs –Access to capital –Cost structure How to find us? –Russian website –Contact details

November Main reasons for listing on the LSE Growth Independent Market Expertise Recommendations on how to maximise the value of joining a London market The LSE supports customers in maximising shareholder value through supporting capital raising and generating liquidity whilst maximising opportunities from their increased profile Capital Raising it efficiently & effectively when required Profile Maximising marketing/PR opportunities Liquidity Increasing and maintaining liquidity

November Volume of Assets Managed in Financial Centres Fund management activities in the UK are concentrated in a single location – London. Source: Big Dough, Hemscott (September 2005) LondonNew YorkBostonSan Francisco Los Angeles ChicagoParisFrankfurtMunich Equity ($, billion) $7,584 $3,081

November Main Market or AIM?  Pre-vetting of Prospectus by the UKLA  Compliance required with the rules of the UKLA  Normally a three-year trading record required  Minimum of 25% of GDRs/shares in public hands  Prior shareholders approval for certain transactions  Sponsors needed for certain transactions  Regulation by the LSE  No trading record required  No minimum amount of shares to be in public hands  In most cases, no prior shareholder approval required for transactions  Normally, admission documents not pre-vetted by Exchange or UKLA but by nominated adviser (Nomad)  Nomad required at all times Main Market

November Why London? –Reasons for listing –Managed assets –Main Market or AIM? Main Market –International listings comparison –Seasonality –DR trading on the IOB –Top 10 companies traded on the IOB AIM –Capital raised –AIM growth –Total AIM IPOs –Access to capital –Cost structure How to find us? –Russian website –Contact details AGENDA

November International Listings Source: London Stock Exchange, August 2006 The Exchange’s Main Market continues to be an attractive venue for the international listings.

November In 2006, 17 international companies have raised over $16 billion on the Exchange’s Main Market. International IPOs seasonality Source: London Stock Exchange, November 2006 Money Raised in International IPOs on Main Market in 2006 YTD ($mn) 1,070 3, , ,062 Comstar Lotte Kingdom Hotels Rolta Carador Goldenport Cherkizovo Colt Telecom Rosneft Napo Pharmaceuticals A&D Pharma Aer Lingus Kazmunaigas TMK Sistema Hals Chelyabinsk Severstal Feb-06Mar- 06 Apr-06May- 06 Jul-06Oct-06Nov-06 Russian Company Other International Company

November Source: London Stock Exchange - July 2006 DR trading on IOB In 2005, IOB total trading turnover was $131bn and in the first 7 months of 2006 that number increased to $172bn. Trading of DRs on International Order Book ( MNTHS 2006) MNTHS 2006 Trade value $ billion Trades '000 Turnover $ Trades

November Top 10 companies traded on IOB Source: London Stock Exchange trade statistics CIS IOB trade value reached 73% of all IOB trade this October, a new record high. 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 LukoilGazpromOrascomSamsung RosneftNovatekOTP BANKLotteEvraz Magyar Trade Value ($ mn) Trades (thousands) Total Trade Value Total Trades Jan-Oct 2006

November Why London? –Reasons for listing –Managed assets –Main Market or AIM? Main Market –International listings comparison –Seasonality –DR trading on the IOB –Top 10 companies traded on the IOB AIM –Capital raised –AIM growth –Total AIM IPOs –Access to capital –Cost structure How to find us? –Russian website –Contact details AGENDA

November – A Record Year for Capital Raised on AIM* Source: London Stock Exchange, November 2006, *Includes further capital raises The success of AIM continues to grow and so does its investor base.

November Months 13 Months 14 Months AIM supports growing companies AIM growth

November Source: London Stock Exchange, November has been a successful year for AIM with over $12bn raised at IPO this year alone. Total AIM IPOs

November Source: London Stock Exchange, August 2006 Access to further capital AIM listing gives companies access to raise further capital after IPO.

November 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 3-5% of the deal, plus 1% of the firm £150K-£300K, Of whichNOMAD’s Lawyers get 25%-40% £100K-£150K £25K-£50K £10K £150K-£200K plus 1% of the firm 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 £50mn ranges between £2.5 - £5mn (5%-10% cost range) excluding value of options.

November Why London? –Reasons for listing –Managed assets –Main Market or AIM? Main Market –International listings comparison –Seasonality –DR trading on the IOB –Top 10 companies traded on the IOB –30/70 Rule - Rosneft AIM –Capital raised –AIM growth –Total AIM IPOs –Access to capital –Cost structure How to find us? –Russian website –Contact details AGENDA

November Russian website

November Jon Edwards Senior Manager, CIS +44 (0) Zarina Korolova Manager, CIS +44 (0) Contact Details