Oleg Saphonov Named Candidate For The "RTS Stock Exchange" Partnership President Post

At its September 17th, 2004, meeting the RTS Board of Directors nominated Oleg Saphonov as the candidate for the position of the RTS Stock Exchange President. Mr. Saphonov's candidacy is subject to approval at the Annual partnership meeting to be held on September 21st, 2004.

Oleg Saphonov currently is the Director of Finance at the RTS Stock Exchange.