OREANDA-NEWS. On July 21, 2008 Open Joint Stock Company Razgulay Group ("Razgulay" or the "Company") announced that as at close of business day on Friday, 18 July 2008, it has received proceeds totaling US98,6mm for 12,7mm shares paid by shareholders exercising pre-emptive  rights, reported the press-centre of Razgulay Group.

In addition, as at the close of business day on Friday, 18 July 2008, the Company had received offers for 25,4mm shares in the open subscription.

The placement period closes at the end of the business day on 21 July 2008. It is currently expected that notification of the results of the new share issue will be filed with the Federal Service for Financial Market on 22 July 2008.

JPMorgan and Renaissance Capital are acting as Joint Global Coordinators and Bookrunners of the Offering. VTB Group is acting as Co-Lead Manager.