OREANDA-NEWS. On 30 April 2009 was announced, that the Annual General Meeting of the MICEX Shareholders, held on April 23, 2009, summed up the results of the MICEX’s financial and economic performance, approved the MICEX’s Annual Report for the year 2008 and its annual accounting reports and decided to distribute the net profit received in 2008 financial year. According to the MICEX’s accounting reports, prepared under Russian standards, in 2008, the MICEX’s income amounted to 5,5 billion rubles and its net profit reached 2.2 billion rubles.

Shareholders decided to distribute the net profit as follows:

dividends: 221,26 million rubles;

the Guarantee Fund for Clearing in the Securities Market: 27,7 million rubles;

the Fund for the Development of the Exchange Business: 1,9 billion rubles.

Shareholders elected a new Board the MICEX for the period until the next Annual General Meeting of Shareholders. The Board is comprised of 15 people, including:

Ruben Aganbegyan (General Director of Renaissance Capital — Financial Consultant)

Ivan Bolshakov (First Vice-President and Deputy Chairman of Eurofinance Mosnarbank)

Andrei Golikov (Director of the Treasury and a member of the Board of Sberbank)

Yuri Denisov (Vice President and Head of the Treasury of the Financial Department of VTB Bank)

Nikolai Yermolayev (Director of the Department for Treasury Operations of ROSBANK)

Nadezhda Ivanova (Director of General Economic Department of the Bank of Russia)

Vladimir Karmashov (Director of the Bank of Russia’s Market Services Department )

Konstantin Korishchenko (President of the MICEX)

Sergei Kornev (Director of the Financial Markets Department of UniCredit Bank)

Sergey Lykov (Member of the Board and Deputy Chairman of Vnesheconombank)

Vladimir Reutov (Deputy Chairman of the Board of Bank St. Petersburg)

Alexander Sobol (Deputy Chairman of the Board of Gazprombank)

Alexei Ulyukaev (First Deputy Chairman of the Bank of Russia)

Sergey Shvetsov (Director of the Bank of Russia’s Market Operations Department )

Kirill Shershun (First Deputy Chairman of the Board of TsentroKredit Bank)

The meeting of the new Board of the MICEX, held immediately after the shareholders’ meeting, unanimously elected A. Ulyukaev (the Bank of Russia) Chairman of the MICEX Board.

The General Meeting of Shareholders of the MICEX appointed Deloitte & Touche CIS auditor of the MICEX for the period until the next Annual General Meeting of Shareholders.

The following 6 people were elected members of the MICEX Audit Commission until the next Annual General Meeting of Shareholders:

Dmitri Kamenskikh (Head of the Office for the Bank’s Share Capital and Long-Term Corporate Investments and Share Capital of Gazprombank),

Nina Pankratova (First Deputy Head of Moscow Chief Territorial Office of the Central Bank of Russia),

Tatiana Sannikova (Deputy Director of the Bank of Russia’s Market Services Department),

Vyacheslav Ulupov (Director of Vnesheconombank’s Internal Control and Audit Department),

Oleg Chistyakov (Deputy Director of Sberbank’s Office for Internal Control, Inspections and Audit).

The shareholders’ meeting examined the results of the MICEX’s performance in 2008 and noted that one of the most visible results achieved last year was the record-high volume of trading. The MICEX Group’s record-high trading volumes and profit were secured in the difficult conditions of the global financial crisis. In 2008, the Group’s possibility to refinance banks and financial institutions enabled it to participate in government anti-crisis measures.

At the end of 2008, the total volume of trading in all markets of the MICEX Group amounted to 149.8 trillion rubles, 40% more than in 2007. The daily average volume of trading reached 599.4 billion rubles (24 billion US dollars). In 2008, the volume of trading in the MICEX on-exchange currency market reached 67.7 trillion rubles (2.6 trillion US dollars), 1.7 times more than in 2007. In 2008, the volume of trading in the government securities market and the money market amounted to 30.4 trillion rubles (1.1 trillion US dollars), 1.3 times more than in 2007. The volume of trading on the MICEX SE reached 48.3 trillion rubles (1.9 trillion US dollars), up 11% on the previous year. The MICEX Group's share in the Russian stock market grew from 95% in 2006 to 99% at the end of 2008.

In 2008, the MICEX Group continued to develop its line of instruments and trading technologies. In the stock market, the Group launched a new instrument, commercial papers. The Group developed a new technology for repurchase of shares through the MICEX Stock Exchange’s trading system. The implementation of simple clearing enabled participants in trading to accelerate their settlements. The MICEX continued to develop its family of indices. A new sector, the MICEX Discovery, was launched for shares admitted to trading on the initiative of the Exchange. In the derivatives market, the MICEX Group worked on the development of risk management and reduction of participants’ costs. The Group set up a reserve fund of 2 billion rubles, approved new regulations for the increase in the limits of price changes and modified its system of margin calls. In the commodity market, the Group expanded the list of commodity assets involved in government interventions and organized trading in delivery futures on grain. The Group continued to improve its depository services and cash settlements. The development of information technologies and the soft- and hardware complex ensured the reliable operation of all markets and improved the competitive advantages of the MICEX Group.