The FINANCIAL -- From February 13, 2012 MICEX Stock Exchange will commence providing execution of buy/sell transactions and repo trades in Russian Federation government bonds and eurobonds of the Ministry of Finance of the Russian Federation.

According to MICEX -RTS, currently traded 35 issues of Russian Federation government bonds and three issues of eurobonds of the Ministry of Finance of the Russian Federation will be admitted to trading in the present trading modes of the Main Market sector. Three issues of the eurobonds have already been admitted to trading in the Exchange. The securities will be added to the Quotation list A Level One.

Initial placements and retirements of the Russian Federation government bonds will be held within the OJSC MICEX -RTS Government Securities market. Execution of buy/sell transactions and repo trades will also be available on this market.

As a result of the admittance to trading of the Russian Federation government bonds on MICEX Stock Exchange, a number of trading participants will increase substantially, i.e. from 304 participants of the OJSC MICEX -RTS Government Securities market to 640 participants in MICEX Stock Exchange. While performing transactions relating to the Russian Federation government bonds, participants will be able to use a single trading position for all instruments of the securities market. In addition, a greater number of investor categories will have an opportunity to trade these bonds, including non-resident clients who trade corporate stocks in MICEX Stock Exchange.

Concurrently, from 13 February MICEX Stock Exchange fees for executing trades in corporate and government bonds will be unified. This implies a 60 per cent reduction for the maximum amount of the fee for executing trades in government securities in the Negotiated trades mode.

The amount of the fee for executing repo trades in Russian Federation government bonds in MICEX Stock Exchange will be set at the level of the OJSC MICEX -RTS Government securities market fees for repo trades, i.e. 0.0001% of a repo trade value multiplied by the repo trade term (in days), but no more than 0.01% of the repo trade value including VAT.

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