June 5, 2007

On Tuesday, 5 June 2007, the annual general meeting of shareholders of the MICEX Settlement House announced the main results of its financial and economic performance in 2006. Shareholders elected the Supervisory Council and the Audit Commission of the MICEX SH and decided to reinvest the profit received in 2006.

At the meeting, Director of the MICEX Settlement House Ludmila Meshcheryakova made an annual report. She said that last year the MICEX SH provided settlement services on all exchange-based markets of the MICEX Group. According to L.Meshcheryakova, the MICEX SH’s services satisfy the best standards of efficiency, continuity and reliability.

Growth of the Russian financial market has caused considerable increase in the volume of settlement operations effected by the MICEX SE. In 2006, the turnover of monetary funds on the MICEX SE’s accounts, used in settlements for clients’ operations on exchange-based markets, amounted to 72.8 trillion rubles, up 72% on the previous year. Incomes received in 2006 grew 2.5 times over 2005 and amounted to 553.2 million rubles, while the net profit amounted to 254.4 million rubles. On 01.01.2007, the capital of the MICEX Settlement House reached 573.1 million rubles, up 81% on the previous year.

In 2006, the MICEX SE implemented up-to-date information technologies and participated in the long-term projects of the Bank of Russia and the MICEX Group, aimed at providing new services to the users of the financial market and improving the effectiveness of their work.

One of the MICEX Group’s projects is aimed at establishing regional exchange centers. In the framework of this project, the MICEX Settlement House has begun to develop a network of regional branches, which are to provide integrated settlement services on all exchange-based markets and improve the effectiveness of the work of regional participants in trading. This will help to implement the MICEX Group’s regional policy. At present, the MICEX Settlement House has two branches in the cities of Rostov-on-Don and Vladivostok.

Shareholders elected the following persons members of the Supervisory Council of the MICEX SH:

Yuri Dubin, Director of Sberbank’s Depository,

Irina Vinogradova, Member of the Executive Board of International Moscow Bank,

Nikolai Yegorov, Senior Vice-President and Member of the Executive Board of the MICEX,

Olga Zavgorodnyaya, Senior Vice- President and Deputy Chairperson of the Executive Board of Evrofinance Mosnarbank,

Ludmila Meshcheryakova, Director of the MICEX Settlement House,

Alexander Potemkin, President of the MICEX,

Alexei Rybnikov, Senior Vice- President and Member of the Executive Board of the MICEX.

At the first meeting of the Supervisory Council of the MICEX SE, Nikolai Yegorov was elected its Chairman.