"Renaissance Capital" Vice-President Timur Niazbaev Elected Head of RTS Stock Exchange Legislative Committee

On its December 15th, 2002, meeting, the RTS Legislative Committee elected Mr. Timur Niazbaev, "Renaissance Capital" Vice President, the Head of the RTS Stock Exchange Legislative Committee.

The Committee's activities cover:

• Development of standard legislative procedures pertaining to Partnership's operation;
• Consulting Members of the Partnership on current Russian securities market legislation;
• Development of appropriate recommendations to the Members of the Partnership;
• Monitoring changes in current Russian securities market legislation;
• Creation and maintenance of Partnership legislative document database;
• Examination of Partnership's legislative document compliance with current Russian legislation.

RTS Stock Exchange Legislative Committee

Natela Davitinidze	NIKOil
Sergei Zubenya	Alfa-Bank
Ekaterina Kazachenko	ATON
Ivan Kuznetsov	RTS Stock Exchange
Ekaterina Makeeva	NAUFOR
Timur Niazbaev	Renaissance Capital
Vladimir Ponomarev	Troika Dialog
Alexandr Stetsurin	Depositary and Clearing Company
Gelena Tsukanova	Brunswick UBS Warburg