RTS Stock Exchange New Board Of Directors

The general annual meeting of the non-profit Partnership "RTS Stock Exchange" that took place on July 28 th , 2005, elected the Board of Directors of the Partnership. In accordance with the Charter of the Partnership members of the Board were elected in three main categories:

First category – 9 members representing leading companies – market participants with the largest trading volume on RTS Classic market. The following 9 members were elected in this category:

№	Company-Market Participant	Representative
1	Troika-Dialog	Jacques Der Megrditchian
2	UFG	Ivan Alexandrovich Tyryshkin
3	URALSIB	Mark Anatolievich Temkin
4	Brunswick UBS	Marlen Dgeraldovich Manasov
5	Metropol	Mihail Viktorovich Slipenchuk
6	East Capital	Askhat Zhanserikovich Sagdiev
7	Bank Credit Swiss First Boston	Vladimir Bril
8	Alfa-Bank	Dominique Paul Gualtieri
9	ATON	Alexander Vladimirovich Kandel

• Second category – representatives of the regional companies – members of the Partnership. In this category only one representative from each region can be selected. In 2005, representatives of the two regions of Russia – North - Western (St. Petersburg) and Siberian (Novosibirsk) had the right to nominate the candidates. The following two members were elected in this category:

№	Region	Company-Market Participant	Representaitive
1	North-Western	Eltra	Sergej Viktorovich Roshin
2	Siberian	Instoriinvest	Maxim Stanislavovich Hripach

• Third category – any independent members. The following six members were elected in this category:

№	Name	Company
1	Evgeny Nikolaevich Kiselev	Sberbank of Russia
2	Vladimir Nikolaevich Melentiev	Gazprombank
3	Victor Vasilievich Nikolaev	“St. Petersburg Stock Exchange"
4	Sergej Nikolaevich Sudarikov	Region
5	Oleg Yevgenievich Yachnik	OLMA
6	Dmitry Yurievich Steinsapir	Prospect