Rating of Investment Companies

Dear Sirs

Expert RA Rating Agency starts its annual monitoring of investment companies activity. To take part in the monitoring you need to
fill the questionnaire.

Participation is free of charge.

The questionnaire should be sent before February, the 15th, 2008 to e-mail: am@raexpert.ru or by fax: (495) 225-36-43 with the note "for P. Mitrofanov".

The results of the monitoring will be published in Expert magazine, RBC daily and other mass media. The site of Expert RA Rating Agnecy will update database of management companies.

For more information please call: (495) 225-34-44
ext. 1820 - Pavel Mitrofanov, head of Investment Ratings department
ext. 1701 - Veronika Ivanova, referent of Financial Institutions Rating department

E-mail:
mitrofanov@raexpert.ru
ivanova@raexpert.ru
am@raexpert.ru

Fax: (495) 225-36-43