| London
Stock Exchange As one of the world’s most international stock exchanges, we are ideally placed to cater for the diverse needs of companies from around the world who are seeking a listing on the London markets. London is indisputably the financial heart of Europe, and one of the leading world financial centres too. It’s no wonder that four of the largest Russian companies - Lukoil, Gasprom, Tatneft and OMZ already have a listing here. Of the companies trading on the London Stock Exchange’s International Order Book (IOB), the ones with the greatest liquidity are Russian. Indeed, Russian trading now accounts for almost half of all trading on our International Order Book (IOB ) and in 2003 there was $81.75 billion of trading in Russian securities on the IOB, compared with $7.2 billion on the New York Stock Exchange. We appreciate that not all companies are the same, and we can help companies of all sizes, in every stage of their development. That’s why, as well as our Main Market, which serves larger, more established companies, we have a specialist market, AIM, for smaller growing companies. Another advantage in London is that we have a number of flexible routes to market – Russian companies can list shares, debt, American Depositary Receipts, Global Depositary Receipts or Retail Depositary Receipts in a choice of currencies. Another strength lies in London’s history of sector expertise, particularly when it comes to the mining and oil and gas sectors. With literally hundreds of analysts and investors covering these, it’s no wonder leading companies such as Lukoil, Gazprom and Taftnet see the benefits of a London listing. Russia is a priority market for the London Stock and we believe we have an important role to play in helping Russian companies gain access to international capital and to boost their international credentials. If you would like to find out more about joining our markets, please call the Russian desk on the number below. Russian desk Tel +44 20 7797 4208 |
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| Golden Telecom Tom Adshead, Director of Investor Relations Founded in 1989, Golden Telecom Inc is the largest independent provider of integrated telecommunications services including local exchange and access services, international and domestic long distance services and Internet access to businesses and other highusage customers and telecommunications operators in Moscow, Kiev, St. Petersburg, and other major population centres in Russia and CIS countries. Its shares are traded in the U.S. on the NASDAQ under the trading symbol GLDN.” Golden Telecom consists of three major operating companies; Sovintel, Combellga, and Golden Telecom Ukraine, and conducts its business in Russia and the CIS through a network of affiliated or controlled structures, i.e. regional branches and joint ventures. The most significant branches are those in St. Petersburg, Krasnoyarsk, Khabarovsk, Irkutsk, Ufa, Arkhangelsk, and Novokuznetsk. The leading regional joint ventures are situated in Novosibirsk, Samara, Kaliningrad, Nizhny Novgorod, Vladivostok, Tyumen, Krasnodar, Volgograd, Voronezh, and Samara. Through agents and distributors, the Company also operates in Azerbaijan, Belarus, and Georgia, and through its subsidiaries in Kazakhstan and Uzbekistan. Golden Telecom focuses on expansion of its main group of services, including:
Golden Telecom's customers include large, medium and small Russian companies, large transnational companies, business centers, hotels, fixed line, mobile and paging operators, banks, financial institutions, embassies and representative offices of foreign companies. The Company makes use of its own backbone fiber optic network in Moscow, St. Petersburg, Nizhny Novgorod and Kiev which is accessed using optic, copper wire, microwave and fixed wireless lines. Golden Telecom had revenues of $361 million in 2003, and expects revenues in the range $510-530 million in 2004. 52% of 2003 revenues came from Business and Corporate Services, 36% from Carrier and Operator Services, 8% from Consumer Internet services, and 4% from mobile services. |
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| TRUST
Investment Bank TRUST Investment Bank is one of Russia’s leading financial institutions. In its annual rankings for 2004, Global Finance named TRUST Investment Bank the best Russian bank in two categories: «Best Domestic Debt Underwriter» and «Best Secondary Domestic Debt House». According to The Banker magazine, the Bank is ranked among the top 25 banks in Central and Eastern Europe. Bloomberg ranks TRUST 15th in its league table of advisors on mergers and acquisitions. The Bank concentrates mainly on investment banking: revenue from the core investment banking business accounts for the bulk of the Bank’s total revenue (about 70%). TRUST is the top manager and underwriter of bond issues for corporations and Russian regions, which totalled more than $600 million in 2003, up 20% from 2002. Based on the 2003 results, the C-Bonds information agency ranked TRUST first among underwriters and lead managers of rouble-denominated corporate bond issues and rouble-denominated bond issues in general. According to the same agency, TRUST is the confident leader among Russian banks managing Eurobond issues by Russian entities. TRUST was the first Russian bank to offer a full range of services for issuing credit-linked notes (CLN) and other Euroclear/Clearstream-traded securities. TRUST is a member of EMTA (The Emerging Markets Traders Association) and ISMA (The International Securities Market Association). |
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