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Reissuing Powers of Attorney

MICEX SE Traders: Stock and Derivatives Markets   MICEX Clearing Participants   Holders

We hereby notify you that at the end of the year the validity periods of most powers of attorney that have been granted by your organization to MICEX CJSC authorizing MICEX to conduct operations with additional trading sections opened in your inter-depositary account with the NDC NCC will expire.

To confirm the mentioned authorities of MICEX CJSC it is necessary to provide new powers of attorney.

Please take the following into account while executing powers of attorney:

  • The power of attorney’s validity period cannot exceed three years. Unless the period is mentioned in the power of attorney, it is effective within the year of its execution;
  • A power of attorney with no date of execution is null and void;
  • The power of attorney given with the transfer must be notarized;
  • The validity period of the power of attorney given with the transfer shall not exceed the validity period of the power of attorney on the basis of which it is given.

Forms for the essential documents can be found on the official MICEX website.

Control over the power of attorney validity periods mentioned in this letter is exercised by the Clearing Sector of the MICEX CJSC Stock Market Department, phone: +7 495 705‐96‐13.

In order to provide information to the Clearing System in a timely manner we ask that the Holder’s powers of attorney be submitted to MICEX CJSC between November 15 and December 15, 2007 (tel. +7 495 234‐48‐08) (according to the form in S. 3.2. of Annex 6 of the Clearing Regulations).

This power of attorney is to be submitted in two original copies.

Please note that if the validity period of these powers of attorney for conducting operations with additional trading sections expires, the trade-clearing accounts of your clients / Clearing Participants related to those sections will be blocked.