OREANDA-NEWS. September 15, 2010. Please be informed herewith that Depository Clearing Company (DCC) has entered into an agreement with the international settlement and clearing institution Euroclear Bank, Brussels and opened direct account No. 15493 therewith.

Thus, with effect from September 20, 2010, DCC starts servicing foreign securities via its account with Euroclear.

The following types of securities serviced by DCC are eligible for settlement between DCC and Euroclear:
Russian Federation Eurobonds (RF external bond loan);
Corporate Eurobonds;
ADRs and GDRs for shares of Russian issuers;
Other securities of foreign issuers.

The complete list of securities serviced by DCC and safekept on DCC's securities account with Euroclear is available on DCC web-site.

Participants can have their securities registered on all types of accounts with DCC and use the whole range of DCC services related to securities transfers between securities accounts and provided in accordance with the general procedure (under the Terms and Conditions of Depository Activity of ZAO DCC), i.e.:
FOP settlement;
DVP settlement;
Delivery via blockage subaccounts;
Guaranteed delivery.

The following operations are available for DCC's interdepository securities account with Euroclear:
Interdepository deposition/withdrawal of securities to/from DCC's securities account with settlement at the Euroclear accounting system;
Interdepository deposition/withdrawal of securities to/from DCC's securities account with settlement at the Clearstream Banking S.A., Luxembourg (Clearstream) accounting system via the Euroclear-Clearstream Bridge;
Interdepository deposition/withdrawal of securities to/from DCC's securities account with settlement at DTC accounting system via Euroclear account with DTC;
Interdepository deposition/withdrawal of securities to/from DCC's securities account with settlement at Hongkong and Shanghai Banking Corporation (HSBC) accounting system via Euroclear account with HSBC.

Conditions of Transactions on DCC's Securities Account with Euroclear
The aforementioned transactions are currently settled only on FOP basis;
For a transaction to be executed the respective counterparty instruction is required;
to submit an instruction to DCC via DCC Client software, Participants should upgrade this software to version 3.0.19. or a later one. The instruction for the upgrade of DCC Client software and the distribution package are available on the Remote Access System section of DCC web-site.

Deadlines for execution of instructions

Instructions are accepted for execution on the same-day basis if they are provided to DCC before 18:00 Moscow time. Instructions are executed no later than on the business day following the day when the report on completion of the transaction is received from Euroclear. The Settled Trades Report is provided to Participants after the end of DCC's operating day.

Participants' expenses for securities safekeeping and settlement of transactions with securities registered on DCC's securities account with Euroclear
Fee for DCC services – a standard fee in accordance with DCC Fee Schedule (fee for services in respect of Eurobonds is the same as for other bonds; fees for transactions with shares also cover transactions with ADRs and GDRs);
Fee for Euroclear services – Participants reimburse DCC's expenses for the safekeeping of securities on DCC's securities account with Euroclear and settlement of transactions relating to this account. Euroclear fees are available on Euroclear web-site .

Please note that the scheme for the servicing of foreign securities via DCC's securities account with OJSC VTB Bank is cancelled because DCC starts servicing foreign securities via its direct account with Euroclear.

Please see the Specification enclosed hereto for the details of registration and transactions with securities safekept at DCC's account with Euroclear.

Should any questions relating to this message arise, feel free to contact your account manager at DCC.