NDC Board of Directors Sets General Meeting Date

02 April 2008
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MOSCOW (RNWire) - The National Depository Center (NDC), Russia's only settlement depository servicing the full range of Russian securities, announced today that a General Meeting has been called for 25 April, 2008. The date was fixed by the Board of Directors at its meeting held 2 April.

The Board has approved a draft agenda for the General Meeting. According to the proposed agenda, the participants will hear the NDC Director’s report on the Partnership’s operations for 2007, consider expenditure issues arising from NDC’s profit and loss budget for 2007, and will review materials from an audit of NDC’s accounting report for 2007 and a report by NDC’s Audit Commission on the financial results for 2007. The General Meeting will also consider the election of new members to NDC’s Audit Commission.

The Board of Directors recommended that the General Meeting approve the acquisition by NDC of common inscribed non-documentary shares of the Settlement Depository Company CJSC within the framework of an additional share issue.

NDC’s Board also approved the operational audit of NDC for 2008, authorizing it to be conducted in line with recommendations by Thomas Murray, an international rating agency, and approved Deloitte & Touche CIS CJSC as NDC’s independent auditor for 2008.

About NDC:

Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of equity securities of Russian issuers. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 95% of transactions conducted in the corporate and regional bond markets, and stock exchange share transactions. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, and 95% of sub-federal and municipal bond issues. The international rating agency Thomas Murray has assigned NDC an A+ rating as a central depository. For 2007 the value of assets in storage was more than RUR4.3 trillion. NDC is the largest paying agent on behalf of corporate bond issuers. It is Russia's national numerating agency, the substituting numerating agency for the CIS, authorized to assign the international ISIN and CFI codes. It is also a member of the international accounting infrastructure, providing settlements on the global financial markets using direct accounts at Clearstream Banking S.A. and Euroclear Bank. It also holds accounts at the Central Depository of the Republic of Kazakhstan and the NDC of the Republic of Azerbaijan.

Among NDC’s founders are MICEX and Bank of Russia (the founders’ shares in the property of NDC are 46.7% and 39.3% respectively, and in the votes 50.2% and 42.3% respectively). Members include GPB OJSC (Gazprombank), Evrofinans Mosnarbank, Rosbank, VTB Bank (Vneshtorgbank), Bank of Moscow, Rossiysky Credit Bank, Vneshekonombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit, Deutsche Bank, and Sberbank. The Partnership also has a stake in Depository Clearing Company CJSC (36.96 %) and in Settlement Depository Company CJSC (29%).

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

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