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Dmitry Ponomarev Elected Chairman Of The RTS Board Of Directors

Date 18/07/2003

The Board of Directors of the non-profit partnership "RTS Stock Exchange" gathered for the first time after the June 26th, 2003, annual meeting of RTS Partnership, to elect the Chairman of the Board. With 12 votes "for" and 1 "abstained" Dmitry V. Ponomarev was elected Chairman of the Board of the RTS Stock Exchange.

"The Board made the right decision by electing Dmitry Ponomarev its Chairman", - adds Dmitry Khilov, Executive Director of Unified Financial Group and a member of the RTS Board of Directors, - "Mr. Ponomarev knows the markets from within, has participated in creation of the RTS Stock Exchange and has served as the Chairman of the Board of Directors before. With that in mind, I am sure Mr. Ponomarev will successfully perform his duties".

Dmitry Valerievich Ponomarev was born in 1967. Graduated from Moscow Institute of Foreign Relations and C.E.P department (Economics and Finance) of Parisian Institute of Political Science. In 1993-1994 worked as a law consultant in the Economic strategy group at KPMG Peat Marwick (Moscow). In 1994, when Professional Association of Securities Market Participants (PAUFOR) was established, Mr. Ponomarev was elected its President and served in this capacity until 1996. In 1996-1997 worked as the President of National Association of Securities Market Participants (NAUFOR), from 1997 to1999 as the RTS Board of Directors member. In 1998 elected President of non-profit partnership "RTS Trading System" (in 1999 the partnership was renamed "RTS Stock Exchange"). Created and headed the RTS Stock Exchange. Under his management the RTS Technical Center (programming, trading-and-clearing support) and RTS Settlement Chamber (transaction settlement and clearing) were created. From 1996 to 2001 served as a member and then Chairman of Depositary and Clearing Company (DCC). From 2000 to 2002 served as Chairman of the Board of Directors. Was responsible for developing strategy for RTS - DCC. From 2001 till now works as the Chairman of non-profit partnership "Trading System Administrator of Wholesale Electricity Market of Unified Energy System". In 2003 elected on Board of Directors of "Federal Network Company of Unified Energy System" and "System Opetator - Central Dispatcher Department of Unified Energy System".