MICEX Settlement House Begins Operating as NDC's Regional Representative in Nizhny Novgorod

01 March 2010
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“The National Depository Center” (Closed Joint Stock Company) (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, and MICEX Settlement House (MICEX SH), announce that on 1 March, 2010 MICEX SH assumed functions of NDC's regional representative in Nizhny Novgorod. NDC’s participants are to be served in MICEX SH's Nizhny Novgorod branch (A 46 Ulyanova str. 603155 Nizhny Novgorod).

Eddie Astanin, Director General, NDC, pointed out:"Transfer of NDC representative's functions to MICEX SH's branch in Nizhny Novgorod represents a step towards formation of a settlement depository on basis of NDC and MICEX SH approved by MICEX Group's shareholders. For NDC this is a core project for 2010. We believe that results of the project's implementation will be in line with the shareholders' expectations and that regional market participants will now get additional opportunities for securities trading and settlements."

Sergey Sukhinin, Chairman of the Board Executive, MICEX Settlement House, added:"Consolidation of settlement and depository businesses within joint organization will definitely result in our customers’ costs reduction and acceleration of settlements that is crucially important for securities market participants. The fact that MICEX SH does not face any credit risks typical of most credit organizations, as well as high level of its settlements’ rapidity prove the company's solid reliability and sound  liquidity."

Previously the functions of the regional representative of NDC in Nizhny Novgorod were implemented by Regional Exchange Center “MICEX – Volga region”. The terms of depository services offered to NDC participants remain unchanged. Detailed information of the provided services in Nizhny Novgorod is available at the following telephone numbers: +7 831 200 8427 (Nizhny Novgorod branch of MICEX SH), +7 (495) 956-2789 (NDC Customer Services Department).

About NDC:

"The National Depository Center" (Closed Joint Stock Company) is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.

Among NDC’s shareholders are MICEX (50,1727% of shares), Bank of Russia (42,2997% of shares) as well as GPB (OJSC) (Gazprombank), Evrofinance Mosnarbank, “ROSBANK” (OJSC JSCB), JSC VTB Bank, Bank of Moscow, JSC «ROSSIYSKIY KREDIT BANK», Vnesheconombank, “ING BANK (EURASIA) ZAO”, CB “J.P. Morgan Bank International” (LLC), ZAO UniCredit Bank, Deutsche Bank Ltd, and Sberbank. NDC has stakes in Depository Clearing Company CJSC (37.29%) and in Settlement Depository Company CJSC (28.54%).

For further information about NDC: www.ndc.ru, or NDC Public Affairs Division: +7 495 232 0910,

About the MICEX SH:

The MICEX Settlement House (MICEX SH) is Russia’s largest non-banking credit institution specializing in providing settlement services to participants in financial markets of the Russian Federation. MICEX SH provides settlement services that meet present-day requirements for efficiency, continuity and operational reliability. In accordance with agreements concluded between MICEX SH and the Bank of Russia, MICEX SH acts as a settlement center for the organized securities market.

The register of MICEX SH’s shareholders includes, among others, such companies as MICEX (88.709 %), ZAO UniCredit Bank (3.6 %) and Sberbank (2.267 %).

Services provided by the MICEX SH are in high demand. Its clients number more than 850 major banks and financial companies from various regions of Russia, such as Sberbank, GPB (OJSC), Vnesheconombank, JSC VTB Bank, financial companies Troika Dialog and BCS Ltd., major foreign financial institutions subsidiaries, including CB “J.P. Morgan Chase Bank”(LLC), ZAO Citibank, Deutsche Bank Ltd., ZAO UniCredit Bank, ZAO Raiffeisenbank, Russian and foreign exchanges, the largest international brokerage company subsidiary “Cargill Yug. Ltd.” and other organizations.

For further information about MICEX SH: http://www.micex.ru/group/settlementhouse/

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