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Results of Mostotrest’s ordinary shares issue

10/12/10  
OJSC Mostotrest has completed the placement of its newly issued ordinary shares in accordance with the Resolution of the Board of Directors dated 8 September 2010. The international offering coupled with the subscription for Mostotrest’s newly issued shares generated total gross proceeds of approximately USD 405 million.

Under its new share issue programme, Mostotrest placed 33,975,500 ordinary shares worth a total of approximately USD 212.3 million, of which approximately USD 195.1 million came from Marc O’Polo Investments Ltd., which acted as the selling shareholder under Mostotrest’s international offering, and approximately USD 17.2 million – from Mostotrest’s minority shareholders who exercised their preemptive rights.

Thus, on completion of Mostotrest’s newly issued ordinary shares subscription and the exercise by another large beneficial owner of shares in the Company Non-commercial Organisation Non-State Pension Fund Blagosostoyanie (NPF Blagosostoyanie) of its option to sell a certain number of ordinary shares in the Company to the selling shareholder, Mostotrest’s 282,215,500 ordinary shares are distributed among its shareholders as follows:

Marc O’Polo Investments Ltd. – 38.9%;
Non-State Pension Fund Blagosostoyanie – 26.5%;
Other shareholders – 34.6%.

Commenting on the results of the ordinary shares issue, Mr Vladimir Vlasov, CEO of Mostotrest said: “We are happy to welcome new investors as part of our international offering, with support from our existing shareholders who exercised their preemptive rights to purchase new shares, which confirms our shareholders’ confidence in the further development of Russia’s infrastructure sector. The success of our offering, along with our participation in the largest federal projects, fills us with optimism about Mostotrest’s and the infrastructure construction market’s growth prospects.

Reference

Marc O’Polo Investments Ltd. is a holding company with beneficiaries including Konstantin Nikolayev, Nikita Mishin and Andrei Filatov, executive managers at N-Trans Group (who own 31.55% of Marc O’Polo in equal shares), and Arkady Rotenberg (68.45% of Marc O’Polo).

Non-State Pension Fund Blagosostoyanie is a pension fund co-founded by JSCo Russian Railways.

Open Joint Stock Company “Mostotrest”, including Limited Liability Company “Corporation Engtransstroy” and Limited Liability Company “Transstroymekhanisatsiya”, is the leading diversified Russian infrastructure construction company and the largest bridge construction company in Russia. According to independent industry consultant PMR, in 2009 Mostotrest had 7.8% of the Russian infrastructure construction market (excluding road maintenance and overhaul) and 25% of the bridge building market by revenue for works conducted in-house. T

he Company’s core operations include construction and overhaul of bridges (including highway, railway and city bridges) and highways and other infrastructure facilities.

The Company was founded in 1930 as All-Soviet Trust for the construction of extra large bridges “Mostotrest”. To date the company has completed over 7,500 infrastructure facilities including
bridges, foot bridges, tunnels and complex transport interchanges.

Mostotrest is currently working on many important infrastructure projects in Russia, including construction of the infrastructure facilities for the Sochi Winter Olympics 2014, the section of the Moscow Fourth Ring Road, infrastructure facilities on the M-4 “Don”
highway and others.

The information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in the Russian Federation or to or for the benefit of any Russian person or any person in the Russian Federation, and does not constitute an advertisement of any securities in the Russian Federation.

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