RTS Stock Exchange Trading Hours On December 31st 2002 And In January 2003

On its December 24th, 2002, meeting the RTS Board of Directors has decided on the following trading hours:

Market	December 31, 2002, open:
Classic Market	11:00 am - 1:00 pm Moscow time
Order-Driven Market	11:00 am - 1:00 pm Moscow time
Order-Driven Share market ("Gazprom" shares, with arbitrary lot)	12:50 am - 1:00 pm Moscow time
Order-Driven Share market (average price trades and directly-addressed trades)	1:00 pm - 1:10 pm Moscow time
FORTS Derivatives Market	10:30 am - 1:00 pm Moscow time
RTS Bonds	11:00 am - 1:00 pm Moscow time

On December 31, 2002, the RTS Settlement Chamber will be accepting payment orders until 3 pm Moscow times. The markets will be closed from January 1 to January 3rd, from January 6th to January 7th, from January 11 to January 12th. On December 30th, 2002, January 4th, January 5th, 2002, and from January 8th to January 10th, 2002, the Exchange will keep regular trading hours.