Akin
Gump Strauss Hauer & Feld LLP Recognized for its sophisticated clients and capabilities as well as its outstanding team of professionals, Akin Gump Strauss Hauer & Feld LLP is one of the world’s largest law firms, with 16 offices and nearly 1,000 lawyers in more than 50 practice disciplines. The firm was founded in 1945 by Richard A. Gump and Robert S. Strauss, former U.S. Ambassador to the Soviet Union and then to Russia during the first Bush Administration. For more than a decade, Akin Gump’s Moscow office has been the base for the firm’s operations throughout Russia and the Commonwealth of Independent States (CIS). Lawyers from the Moscow office work closely with Akin Gump lawyers and policy advisors in other offices around the world to advise clients with respect to capital market transactions in Russia and the West; mergers and acquisitions, joint ventures, privatizations and other transactions in Russia and the CIS; arbitration and litigation in Russia and other venues; and complex public law and policy matters in Russia and the United States. In 2003, Akin Gump was named "Energy Law Firm of the Year - Eastern Europe" by Chambers and Partners. Our handling of U.S. and European capital market financings of Russian companies, including initial public offerings, is without equal. Our lawyers advised VimpelCom on the first U.S. SEC registered initial public offering of a Russian issuer in the United States and its listing of American depositary shares and convertible notes on the New York Stock Exchange. In addition, we advised LUKOIL on the first full listing by a Russian issuer of its ordinary shares and depositary receipts on the London Stock Exchange. Akin Gump has also assembled a strong Russia policy team led by two former U.S. ambassadors to Russia. This team includes two former special assistants to President Clinton and senior directors at the National Security Council for Russia, Ukraine and the Eurasian States, one of whom advised the secretary of state on all matters concerning development in the region and the other who served as deputy assistant secretary of the Treasury for international affairs under Robert Rubin and Larry Summers. The policy team advises Russian and Western clients on Russian domestic and foreign policy developments and on U.S. policy as it relates to Russia and the CIS. Their extensive experience and wide range of relationships with current and former government officials throughout Russia and the CIS, as well as in the United States, are invaluable assets and provide an added dimension of service to the firm’s clients. No matter what the issue, our in-depth understanding of how business is conducted in Russia and the CIS, and how that business interrelates with national, regional and international geopolitical issues, positions us to deliver comprehensive, high-quality service to our clients. The firm is committed to developing this dynamic marketplace and to paving the way for our clients’ success. For more information on Akin Gump and our Russia and CIS practice, please visit our Web site at akingump.com |
 |
| Alfa
Bank Simon Vine, Deputy Head of Investment Bank, Managing Director Alfa Bank, Russia’s largest privately owned bank, was founded in 1990. Alfa bank is a universal bank and is present in every key sectors of the financial services industry, including corporate banking, retail banking, investment banking, trade finance, insurance and asset management. The Bank is ranked among the most reliable and dynamically developing financial institutions that combines a thorough knowledge of the specific characteristics of the Russian market with the very highest Western standards. Today Alfa Bank serves over 500 000 individual and 50 000 corporate clients including the top 200 Russian companies. With the opening of several new offices in Russia during the year 2003 Alfa Bank branch network reached 100, including subsidiary banks in Russia, Ukraine, Kazakhstan, the Netherlands and Representative Office in London. The Bank’s fast growing brokerage business has a FSA authorized arm in London — Alfa Securities Limited — and a NASD and SIPC registered Broker Dealer in New York — Alfa Capital Markets Inc. Alfa Bank is one of the five largest banks in Russia based on assets and shareholder equity. In 2002, the assets of the Alfa Bank Group, including Alfa Bank, insurance company AlfaStrakhovanie, subsidiaries and financial companies, grew to $4.1 billion. The net profits of the Alfa Bank Group were $104 million, shareholder equity was $431 million, and loan portfolios were $2.4 billion. Alfa Bank has announced the launch of its new retail business, operating under the “Alfa Bank Express” brand and introduced to provide state-of-the-art retail services for private individual and SME customers. Alfa-Direct Internet broker service is widely used by both professional and private investors. Alfa Bank is one of the few Russian domestic banks that operate under international auditing standards (PriceWaterhouseCoopers — since 1993). Alfa Bank has won numerous awards, including Global Finance’s Best Russian Bank, Best Trade Finance Bank and Best M&A Advisor in Russia 2003, Euromoney’s Best Bank in Russia 2002, The Banker’s Bank of the Year 2000. Alfa Bank is rated B+ by Fitch IBCA, Ba2 by Moody’s and B by Standard & Poor’s. Alfa Bank has a long history of supporting charities, Russian culture and creating programs for young talent. The Bank is one of the largest patrons of the fine and performing arts and Trustee of the Bolshoi Theatre. For more information please visit: www.alfabank.com |
 |
Baring
Vostok Capital Partners Baring Vostok Capital Partners is an investment management company focusing on private equity in the former Soviet Union. Baring Vostok manages or advises 4 investment funds with total capital in excess of $400 million. Baring Vostok is or has been an early private investor in several successful companies including Vimpelcom, Golden Telecom, Syktyvkar Forestry, GTS, Burren Energy PLC, Storyfirst (CTC Network), Promopost, Rogan Brewery, Borjomi, and Slad&Co. |
 |
| MDM
Financial Group Kieran Donnelly, Head of International Fixed Income Sales MDM Financial Group ('MDM') is one of the three largest privately-owned banking groups operating in Russia as measured by both assets and capital. At 30 June 2003, MDM had total assets of US$ 3.68 billion and total shareholders’ equity of US$ 614 million. The Group comprises MDM Holding GmbH, Austria and its subsidiaries, which include six banks in the Russian Federation and one bank in Latvia. The Group’s lead operating entity, MDM Bank, accounts for 79% of Group assets and 62% of Group income. MDM is also the most profitable banking group in Russia with net profit in 2002 of US$ 110 million and US$ 156 million for H1 2003, representing a return on average equity of 29% and 60% (annualised), respectively. MDM is exclusively engaged in banking, operating in three core business areas in corporate banking; investment banking and financial markets; and retail banking. Its business is based on financial intermediation between non-related parties with related party exposure equal to 8.7% of total assets at 30/06/03. MDM has joint-highest credit ratings for a Russian privately-owned banking group from each of the three international agencies: Fitch (‘B+’), Moody's (‘B1’) and Standard & Poor's (‘B‘). MDM has the largest outstanding Eurobond (US$ 200 million) for a Russian privately-owned banking group, and recently also became the first Russian issuer since the 1998 crisis to place paper under a short-term debt issuance programme. |
 |
| NIKoil
Financial Corporation Jyrki Talvitie, Head of international Business Financial Corporation NIKoil is one of the largest Russian full-service financial institutions that offer their clients full range of financial products and business services. The history of NIKoil dates back to 1993. In the beginning it was an investment company. NIKoil played an important role in formation of oil company LUKOIL, as well as in restructuring and attraction of investment to quite a few enterprises of the oil sector. Later this experience was used and further developed in other sectors. It was in 1996 that NIKoil merged with commercial bank “Rodina” (since 1998 the title of the company is Joint-Stock Bank "Investment Banking Group NIKoil”). Financial Corporation NIKoil enjoys one of the highest levels of capitalization among Russian financial corporations, at present its capital exceeds $1.1 bln. NIKoil has been recognized as the leader in financial services innovation domain. As such, in addition to running a sizable commercial banking business, it controls, for instance, more than 80% of the factoring market and over 60% of the unit funds market (about 80 thousand investors). The corporation works actively with precious metals in the Russian and international markets and is one of the equity brokerage leaders in Russia. The corporation includes a Depositary, which provides safe custody services for more than $1.5 bln. NIKoil successfully implements its strategic plan of forming a financial corporation following the example of the western most efficient full-service financial institutions. Last year, the important milestones in the light of this strategy were the acquisition of Industrial Insurance Company, the biggest Russian insurer, and entering into alliance with Avtobank. NIKoil decided to develop the regional retail business through the use of Avtobank and Industrial Insurance Company networks that contain solid client base and experienced managers. The integrated sales system will include 106 branches and operating outlets in Moscow and in other regions of Russia. In this way NIKoil will advance services to customer's requirements in specific regions and provide with products highly regarded at the marketplace. NIKoil’s FITCH ratings: Foreign currency Short-term senior B, Long-term senior B-, Individual D; Support 5T. Client-oriented business is the priority for the Bank and Corporation. NIKoil's client network involves such large companies and enterprises as RAO UES, LUKoil, Tatneft, Bashenergo, Rosneftegazstroi, Sukhoy and many others. By the results of the year 2001, NIKoil was among the first ten most actively and dynamically developing companies in Russia. In 2001, Financial Corporation NIKoil was awarded with the National business prize as the "Company of the Year in the field of business services in the financial markets" and was titled the Best Company of the Year in Russia. According to the experts’ estimates, NIKoil has one of the best management team in the country. It unites experienced and professional Russian and foreign experts in financial markets. This year, for its high corporate culture “NIKoil” was awarded the National prize in public relations “Silver archer”. The President of Financial Corporation NIKoil Nikolay Tsvetkov has been its head since the company’s formation in 1993. According to the rating by the National association of managers, Nikolay Tsvetkov is among the ten best managers in the Russian financial market. |
 |
| ROSBANK One of Top 10 banks in Russia by assets, Rosbank is a market leader and actively developing to meet the needs of clients and opportunities presented by Russia. Set up in 1993 as a universal bank Rosbank grows rapidly with $2.208 billion assets by March 31, 2003 and is ranked 18 among The Banker's 2003 list of Central and Eastern Europe. ROSBANK has a network of regional branches spread across Russia and a 100% subsidiary in Switzerland. Rosbank has more than 11,500 corporate clients. The bank has already built up a $1.176 billion well diversified credit portfolio. Retail is a new direction for Rosbank, which continues to concentrate on its core businesses, offering a complete range of financial services. Rosbank has established itself as leading in both issuing and underwriting domestic corporate bonds: the bank has issued more than Rubles50 billion in ruble bonds and is one of the top bond underwriters. Rosbank offers its customers a package of related services including preliminary research, advising, documentation assistance, arrangement of placement, underwriting, marketing and liquidity support. New products are constantly being developed. As the bank's business becomes increasingly global, Rosbank makes efforts to improve transparency. It adopted international accounting standards several years ago and recently moved over to reporting audited accounts twice a year. Rosbank's openness has been recognised by the ratings agencies Moody's and Fitch. |
 |
Stroymetresurs Stroymetresurs (SMR) is one of the largest development companies involved in large-scale housing projects in the Moscow region and throughout Russia. The total amount of construction is over 1.7 million square meters. Stroymetresurs acts as customer in each project, undertaking the whole range of construction-related operations, starting from housing market research to investment, construction and registration of titles to real property. SMR’s customers are middle class individuals and families of Moscow, the Moscow region, other regions of Russia and the CIS, as well as commercial and state-run organizations. Stroymetresurs offers affordable apartments in residential complexes with complete infrastructures and added features, including garages, sports facilities, business centers, shopping malls and other significant amenities. The company is actively involved in mortgage programs with commercial banks and state funds to relieve consumers’ financial problems, which are a key obstacle to market development. The housing market in Russia has great potential and is one of the most attractive markets in terms of investment, characterized by steady price and sales growth in the last few years. Poor living conditions are a real problem for most of the Russian population and Russia’s middle class has now reached a level of wealth that allows them to solve this problem and purchase real estate property. Stroymetresurs intends to make the most of growing market opportunities and use its extensive experience to develop projects in the Moscow region and throughout Russia, increasing our volume of construction in Russia to three million square meters annually by 2006. SMR also evolves a range of related businesses, such as construction materials production, utility and commercial real estate management. SMR continues to tackle the ever-increasing demand and use its strong know-how for further development projects. Due to the high profitability of the projects, external financial partners are able benefit from SMR’s growth. The company is ready to offer various financial instruments for potential financiers and investors. |
 |
TNK-BP TNK-BP is Russia’s third largest oil company, and the 8th largest oil company in the world in terms of crude oil production. The company was formed in 2003 as a result of a historic merger of BP’s Russian oil assets and the oil assets of Alfa Access Renova group (AAR). BP and AAR own TNK-BP on parity terms. The $18bn transaction establishing TNK-BP was completed in August 2003. The deal marked the largest foreign investment in a Russian company to date, and the largest corporate transaction in Russia’s history. The TNK-BP transaction is regarded as a breakthrough, which sets the stage for other large foreign investments in Russia’s economy, and accelerates the process of Russia’s further integration in the global economic system. |
 |