URALSIB Capital Predicts Stable Economic Growth and Good Investment Opportunities in Russia

By Uralsib Capital, PRNE
Wednesday, June 23, 2010

LONDON and MOSCOW, June 24, 2010 - URALSIB Capital, the independent full-service Russian investment bank,
has opened its second international fixed income conference, "The Russian
Bond Market: New Era 2010", today at the Renaissance Monarch Center Hotel,

Presenting at the conference Dimitri Dudkin, Head of Fixed Income
Research at the bank, will say that Russian sovereign Eurobonds are clearly
inexpensive following the Eurobond market correction in April and May this
year. They are also cheap compared to their historic spreads and relative to
all of their emerging market counterparts.

On corporate bonds, Mr. Dudkin said, "now is the time to buy. The best
buying opportunities lie in the Russian energy and banking sectors. Notably,
TNK-BP debt is currently yielding more than 200 basis points above Russian
sovereign bonds amid unfounded fears that the Gulf of Mexico spill will
impact negatively on the British / Russian 50:50 joint venture. We see no
potential that BP's troubles off the Louisiana coast might effect TNK-BP."

Also speaking at the conference will be Vladimir Tikhomirov, Chief
Economist at URALSIB Capital. The bank expects the higher oil-price (they are
expecting $80.8 / bbl for 2010) will have a positive effect on the Russian
economy. However, Mr Tikhomirov said, "the slow pick-up in Russian investment
activity after the global financial crisis will offset the positive effects
of a higher oil price on the domestic economy. Our year-on-year GDP growth
forecast, therefore, remains unchanged at 5.5% for 2010."

Accompanying this press release are full research notes by Vladimir
and Dimity Dudkin on the Russian Economy and Fixed Income
Strategy, respectively.

Notes to Editors:

About URALSIB Capital

URALSIB Capital is the investment banking arm of URALSIB Financial
Corporation, one of Russia's largest and best-established financial services
groups and a leading player in commercial banking, investment banking, asset
management, private banking and leasing.

URALSIB Capital, brings together deep knowledge of Russian capital
markets with a presence in global financial centers including New York,
London and Cyprus. This combination of local expertise and international
distribution capabilities enables it to offer comprehensive financing
solutions to its domestic and international clients.

The bank's fixed income offering includes research,
underwriting, and sales and trading. It has extensive experience in ruble
REPO transactions, and a market-leading position in the primary and secondary
ruble bond markets, as well as being active in the euro bond market. URALSIB
Capital is also a major participant in the development and trading of Russian

    Media enquiries:

    URALSIB Capital
    Olga Zenkina
    Phone: +7(495)-788-0888, ext. 3826
    Email: zenkinaoi@uralsib.ru

    Brian Cattell
    Phone: +44(0)20-7379-5151
    Email: bcattell@maitland.co.uk

Media enquiries: URALSIB Capital, Olga Zenkina, Phone: +7(495)-788-0888, ext. 3826, Email: zenkinaoi at uralsib.ru; Maitland, Brian Cattell, Phone: +44(0)20-7379-5151, Email: bcattell at maitland.co.uk

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