OREANDA-NEWS. April 28, 2011. This press release is not a prospectus but an advertisement. Investors should not subscribe for any securities referred to in this announcement except on the basis of publicly available information regarding Public Joint Stock Company “ARMADA” in connection with the offering discussed in this press release.

PUBLIC JOINT STOCK COMPANY “ARMADA” ANNOUNCES PRICING OF ITS GLOBAL OFFERING AT USD 13 PER ORDINARY SHARE

Moscow, April 14, 2011.Public Joint Stock Company “ARMADA” (“ARMADA” or the “Company”), a group of IT companies focused on high margin Software Development & IT Services businesses (MICEX, RTS: ARMD), today announces pricing of its global share offering (the “Offering”) of 2 400 000 newly issued shares (“theShares”) at USD 13.00 per Share.

ARMADA has received applications from existing shareholders for the exercise by them of statutory pre-emptive rights in respect of 129 164 Shares. Closed Joint Stock Company IT Ingeneering, 100% owned by ARMADA, subscribed for up to 700 000 Shares. The Company intends to use the proceeds from the Offering and Shares owned by IT Ingeneering to finance selective acquisitions on the market.

Mr. Alexey Kuzovkin and Arsenal Advisor Ltd. have decided not to sell any ordinary shares in the Offering.

The Shares are expected to be admitted to trading on the Open Joint Stock Company “Russian Trading System Stock Exchange”, and to be listed on Closed Joint Stock Company “MICEX Stock Exchange” after the filing of the Placement Notification with FSFM.

The Company, Arsenal Advisor Ltd. and IT Ingeneering have agreed, subject to customary exceptions, to enter into a lock-up agreement for a period of 180 days following completion of the Offering.

VTB Capital acted as a Sole Global Coordinator and Bookrunner, while Gazprombank acted as a Co-Lead Manager for the Offering.

Commenting on today’s press release, Alexey Kuzovkin, Chairman of the Board of Directors of ARMADA, said:
“ARMADA offering of shares has succeeded in attracting substantial demand a range of institutional investors from the UK, Europe and Russia. Today’s success will mark another important step in Company’s development and will enable further balanced development of Armada’s business driving future growth and providing more value to the shareholders.”
About the company

ARMADA is a Russian group of IT companies, focused on high margin Software Development & IT Services segments of Russian IT market. The company has been on the market since 2000 under RBC Soft brand, in July 2007 completed an IPO on Russian Exchanges MICEX and RTS. Armada has considerable experience in implementation of complex projects that are unique in terms of size and methods used, including the development of the Electronic Government system in Russia. In 2010 the Company recorded revenues of RUR 3.66bn (USD 122m), EBITDA of RUR 410m (USD 14m) and 11.2% EBITDA margin.