NDC Board of Directors Approves Formation of Two Committees and Schedules Extraordinary General Meeting of Shareholders

MOSCOW - The National Depository Center (Closed Joint Stock Company) (NDC), Russia’s only settlement depository servicing the full range of debt and equity securities of Russian issuers, today released results of the Board of Directors meeting, held 20 October, which approved the formation of a Committee on Human Resources Issues and Remuneration and of a Budget Committee. The Board also approved Regulations on the committees’ activities. Predecessor committees of the Not-for-Profit Partnership “The National Depository Center” postponed their functioning because of reorganization into the joint stock company.

The Board of Directors voted to call an extraordinary general meeting of the shareholders of NDC for 27 November, 2009, and approved the following agenda for the meeting:

1. Approval of procedures for the conduct of the meeting 2. Approval of NDC’s auditor 3. Early termination of powers of NDC’s general director 4. Election of a new general director of NDC.

Konstantin Korischenko, President, MICEX, Deputy Chairman of the NDC’s Board of Directors, said: “Inclusion of the issue of early termination of powers of NDC’s general director arises as a result of Nikolay Egorov’s intention to focus on managing MICEX Group’s operational and IT activities, which he now runs simultaneously with his functions as NDC’s general director.”

Nikolay Egorov, General Director, NDC, in his speech to the Board of Directors said:”We achieved many important goals in the last five years at NDC. NDC became not only Russia’s biggest settlement depository but also the leading Russian depository in general. NDC also gained a leading position in the servicing equities. Thomas Murray has ranked NDC at AA- among other leading international depositories including its European and US peers. The company is actively developing its services and improving their quality. By the end of this year implementation of a new technological platform will be completed. We are also improving our corporate governance system; in line with this we have completed the very difficult process of reorganization of the company from a not-for-profit partnership to a joint stock company.”

Mr. Egorov added: “The project involving NDC’s merger with MICEX Settlement House will take much time and effort at the current rate of the developments in the central settlement infrastructure organization of the Russian financial market. Under these circumstances I assume that to combine resolving these challenges with taking my responsibilities as head of the MICEX Group’s operations and IT will be physically impossible. This new task should be NDC management’s priority. I am sure that the shareholders will follow the principle of continuity in the course of decision making.”

Nikolay Egorov will continue performing his duties as general director of NDC until 27 November, 2009.

The Board of Director nominated Eddie Astanin, NDC’s Deputy General Director, as the only candidate for the general director’s post.

NDC’s directors also reviewed a report on NDC’s financial and economic activities for 1H 2009 and a report by NDC’s Deputy General Director - Controller for 3Q 2009.

About NDC

The National Depository Center (Closed Joint Stock Company) is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an ÀÀ- rating as a central depository. NDC is Russia’s national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.

Among NDC’s shareholders are MICEX (50,1727% of shares), Bank of Russia (42,2997% of shares) as well as GPB (OJSC) (Gazprombank), Evrofinance Mosnarbank, ROSBANK (OJSC JSCB), JSC VTB Bank, Bank of Moscow, JSC Rossiyskiy Kredit Bank, Vnesheconombank, ING Bank (Eurasia) ZAO, JP Morgan Bank International LLC, ZAO UniCredit Bank, Deutsche Bank, and Sberbank. NDC has stakes in Depository Clearing Company CJSC (37.29%), in Settlement Depository Company CJSC (28.54%) and in Bank “National Clearing Centre” CJSC (0.27%).

For further information about NDC: www.ndc.ru, or NDC Public Affairs Division: +7-495-232-0910, pr@ndc.ru; Olga Rink, Public Affairs Director, Phone: +7-495-232-0910, Mobile: +7-903-616-4832, E-mail: rink@ndc.ru

Source: NDC Public Affairs Division

For further information about NDC: https://www.ndc.ru, or NDC Public Affairs Division: +7-495-232-0910, pr at ndc.ru; Olga Rink, Public Affairs Director, Phone: +7-495-232-0910, Mobile: +7-903-616-4832, E-mail: rink at ndc.ru