Russian Trading System: New Trading Halt Provision To Come Into Force On November 10th, 2002

The RTS Stock Exchange informs that effective November 10th, 2002, the new amendment to the Exchange Trading Rules approved by the Board of Directors comes into force.

The new trading halt procedure was developed in compliance with the Federal Commission on Securities Market of Russia Decree as of June 07, 2002.

According to the new halt provisions, trading on the Exchange is to be suspended for at least 1 hour if:

• The opening value of the RTS Index changes (increases or decreases) for at least 12% compared to the previous day closing value;
• The current value of the RTS Index changes (increases or decreases) for at least 8% compared to the current day opening value.

The Exchange suspends trading in a security quoted on the Level 1 Quotation list for at least 1 hour if:

• The opening price of the security changes (increases or decreases) more than 15% on the previous day closing;
• The last (as of the preceding hour) price of the security changes (increases or decreases) more than 10% on this day opening price.

The Exchange suspends trading in a security quoted on Level 1 Quotation list until further notice from the FCSM if:

• The opening price of the security changes (increases or decreases) more than 25% on the previous day closing;
• The last (as of the preceding hour) price of the security changes (increases or decreases) more than 15% on this day opening price.