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RTS Stock Exchange Order-Driven Trading Session Extends

Date 29/07/2003

Effective July 30th, 2003, in accordance with St. Petersburg Stock Exchange Listing Rules, and St. Petersburg Stock Exchange Trading Rules, the trading hours on the Order-Driven Market will be extended.

The market will open at 10:30 and close at 18:45 Moscow time; pre-trading session will last from 10:15 to 10:30, and after-trading - from 18:45 to 19:00. Currently the entire session, including pre- and after-trading periods, lasts from 10:45 to 18:10.

The extension of trading session will give market participants an opportunity to better respond to market dynamics, both in Russia and abroad, and take full advantage of arbitrage possibilities.

The St. Petersburg Stock Exchange Listing and Trading Rules were approved by the St. Petersburg Stock Exchange Council and registered by the Federal Securities Commission of Russia on July 23rd, 2003.

Order-Driven Market is the joint project of the RTS Stock Exchange and St. Petersburg Stock Exchange, with St. Petersburg Stock Exchange serving as the marketplace, the RTS Stock Exchange - as the clearing house, and "RTS Settlement Chamber" - as the settlement organization