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The List Of RTS-2 Index Constituents Changes As Of December 15th, 2005

Date 02/12/2005

At its last meeting, the RTS Information Committee reviewed the list of shares that are used to calculate the RTS-2 Index.

Having considered the RTS market data from August 16th to November 15th, 2005, the Information Committee has decided to update the list of RTS-2 index constituents. Starting December 15th, 2005 and ending March 14th, 2006, the RTS-2 Index will be calculated based on the new list.

The common shares of "VSMPO-AVISMA Corporation" (VSMO) were taken off the list in accordance with the decision made by FFMS of the Russian Federation to suspend trading in this stock on the Exchange as of October 13th, 2005.

The common shares of Nizhhnekamskneftekhim INC (NKNC) and Volzhskaya Hydroelectric Station, Volgograd Region (VOLG) were added to the list.

The RTS Stock Exchange Information Committee also decided to put the following common stocks on the "waiting list" to be added to the list of RTS-2 Index constituents:

APTK Pharmacy Chain 36,6, common
BISV Bashinformsvyaz, common
KHEL Kazan Helicopters, common
KIRZ Kirov Factory, common
OIVS Open Investments, common
SKGZP Sakhalinmorneftegas (Rosneft), preferred
SNTZ Sinarsky Pipe Works, common
UFOSP Ufaorgsintez, preferred
VGOK Vysokogorskij gornoobogatitel'nyj kombinat, common
VLGS Zhigulyovskaya hydraulic power station, common
ZYGS Zeya Hydroelectric Power Station, common
ZYGSP Zeya Hydroelectric Power Station, preferred

List of constituents to be Used in RTS-2 Index Calculation from December 15th, 2005 to March 14th, 2006