| AFK
Sistema Sistema JSFC is one of the largest diversified holdings in Russia, unique in that its key assets are located outside of the oil, gas and mining sectors. Vladimir Evtushenkov, Sistema's founder and Chairman of the Board, controls about 78% of Sistema, while the remaining shares are owned by the company's management and directors. With 2002 sales exceeding US$900mn, Sistema enjoys dominant positions in Russia's telecom (MTS, MGTS, MTU-Inform), insurance (ROSNO), technology (OAO CSC) and real estate (Sistema Hals) sectors. The company also invests in other fast-growing industries in Russia, such as retail (Detsky Mir), tourism (Intourist) and banking (MBRD). Over the 10 years of its existence, Sistema has developed a track record of building solid partnerships with international industry leaders, such as Siemens, Deutsche Telekom, Allianz AG and Volvo. The company has been preparing consolidated US GAAP financials since 1997, and adheres to the highest standards of corporate governance and transparency. In 2003, Sistema entered international capital markets with a debut US$350mn Eurobond, which was well received by the international investor community. Today, the company has a clear return-based investment policy and is committed to further increasing shareholder value. |
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| Agency
for Housing Mortgage Lending Company profile to follow shortly. |
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| Alfa
Bank Founded in 1990, Alfa Bank has developed rapidly to become Russia’s largest privately owned bank. It is a full service bank, providing commercial banking, investment banking, asset management, trade finance and insurance. Alfa Bank has more than 80 branches across Russia and the CIS and fully licensed banking subsidiaries in Ukraine, Kazakhstan and the Netherlands. The Bank’s fast growing brokerage business has a FSA authorised arm in London — Alfa Securities Limited — and a NASD registered Broker Dealer in New York — Alfa Capital Markets Inc. Inside Russia, Alfa Bank is a leader in mergers and acquisitions and debt capital markets and is one of the biggest issuers of banking cards. The Bank also runs the country’s largest mutual fund. The Bank is a core holding of Alfa Group Consortium, a privately owned financial industrial group with interests ranging from oil and telecommunications to supermarkets and commodities trading. As of 31 December 2001 Alfa Bank had assets of $2.7 billion and shareholders’ equity of $278 million. Net profits in 2001 were $85 million compared with $77 million in 2000. Alfa Bank has a mix of Western and Russian management and aims to provide expertise in Russian markets with the highest standards of international business practice. Alfa Bank honoured its financial commitments to western institutions before, during and following Russia’s 1998 devaluation and in 2000 became the only Russian issuer to repay its Eurobond in full and on time. Alfa Bank is rated B- by Fitch IBCA, B1 by Moody’s and B- by Standard & Poor’s. These are the highest ratings for a private financial institution in Russia. The Bank has won numerous press awards, including Euromoney Best Bank in Russia 2002, Global Finance’s Best Russian Bank in 2002 and Best Trade Finance Russian Bank in 2002, Bank of the Year 2000 in The Banker. For more information please visit: www.alfabank.com |
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| Central
Bank Company profile to follow shortly. |
Citigroup
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| City
of Moscow The State Debt Committee of the City of Moscow was established on July 22, 1996 in accordance with the Resolution of the Mayor of Moscow to arrange and execute borrowing on behalf of the City through placement of securities. The Committee is the only borrower on behalf of the Government of the City of Moscow in relation to all kinds of debt guaranteed by the City budget. The main objectives of the Committee are as follows:
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| EBRD The European Bank for Reconstruction and Development (EBRD) was established in 1991 when communism was crumbling in central and eastern Europe and ex-soviet countries needed support to nurture a new private sector in a democratic environment. Today the EBRD uses the tools of investment to help build market economies and democracies in 27 countries from central Europe to central Asia. The EBRD is the largest single investor in the region and mobilises significant foreign direct investment beyond its own financing. It is owned by 60 countries and two intergovernmental institutions. But despite its public sector shareholders, it invests mainly in private enterprises, usually together with commercial partners. It provides project financing for banks, industries and businesses, both new ventures and investments in existing companies. It also works with publicly owned companies, to support privatisation, restructuring state-owned firms and improvement of municipal services. The Bank uses its close relationship with governments in the region to promote policies that will bolster the business environment. The mandate of the EBRD stipulates that it must only work in countries that are committed to democratic principles. Respect for the environment is part of the strong corporate governance attached to all EBRD investments. Every EBRD investment must
Through its investments, the EBRD promotes
Functioning as a catalyst of change, the EBRD
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| Finance
Ministry
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| RAO
"Unified Energy Systems OF RUSSIA" The Russian Joint Stock Power and Electrification Company RAO "UES of Russia" is a sector-wide holding company with extensive functions in ensuring a reliable supply of electricity and heat energy to various sectors of the economy and general public, as well as managing the Unified Energy System of Russia and implementing investment programs in the energy sector. RAO "UES of Russia" is the most important component of Russia’s power generation and supply industry and operates in structural terms as a company, a holding company and a group. RAO “UES of Russia” controls the substantial number of subsidiaries and dependent companies, the primary operations of which relate to the process of producing, transmitting and distributing energy and organizing the functioning and development of the Unified Energy Systems of Russia. RAO "UES of Russia" plays the leading role
in Russia's electric power sector: Number of employees: RAO "UES of Russia" is the largest in Russia holding by number of employed. The number of employees in the companies within the Holding is 632 thousand. |
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| SUAL
Holding SUAL Holding operates one of the top seven aluminium companies in the world, the second largest in Russia, with total revenues of US$1.3 billion in 2001. It was created at the turn of the millennium in Moscow after several Russian aluminium companies merged, and now it encompasses 21 industrial companies involved in the production of bauxite, alumina, silicon, primary aluminium, semi-finished and finished aluminium products. It is fully vertically integrated, with its own bauxite, alumina and other raw materials. It is a low cost producer and has access to inexpensive energy resources. Its trading companies are located in Switzerland and the U.S. We now provide US$40 million in capital investment every year, more than double 1996’s figure. In the financial year 2001, we invested US$170 million. |
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| TNK-BP TNK-BP is Russia's third largest oil and gas company, and the 10th largest private-sector oil company in the world in terms of oil production. It controls daily output in excess of 1.2 million barrels of oil (60 million tons per year). TNK-BP operates five refineries in Russia and Ukraine with installed capacity over 1 million barrels per day (50 million tons per year) and more than 2,100 filling stations across the two countries. TNK-BP’s upstream operations are based in West Siberia (Khanty-Mansiysk and Yamalo-Nenets Districts, Tymen Region), Volga-Urals (Orenburg Region, Saratov Region, Udmurtia), East Siberia (Irkutsk Region) and Sakhalin. Oil output in the first half of 2003 was 11% up on the same period in 2002. TNK-BP’s principal refining assets include Ryazan (near Moscow), Orsk (Orenbrug region) Nizhnevartovsk (West Siberia) and Saratov (Saratov) and Lisichansk in Ukraine. TNK-BP’s retail network comprises 1,216 sites located primarily in Central European Russia and 913 sites in Ukraine. The company has a strong retail position in Moscow, a key retail market. TNK-BP has a workforce of approximately 113,000 people, mostly located in eight major areas of Russia and Ukraine. |
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World
Bank The World Bank Group is one of the world's largest sources of development assistance. In Fiscal Year 2002, the Bank provided US$19.5 billion in loans to its client countries. It works in more than 100 developing economies with the primary focus of helping the poorest people and the poorest countries. The World Bank Group is a development institution whose goal is to reduce poverty by promoting sustainable economic growth in its client countries. Development is a long-term process that ultimately involves the transformation of whole societies. It is about getting economic and financial policies right. But it is also about empowering people, building roads, writing laws, recognizing women, educating girls, eliminating corruption, protecting the environment, inoculating children-and much, much more. |
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YUKOS YUKOS is one world's largest oil companies by reserves and market capitalization and one of Russia's largest publicly traded corporations by market capitalization. Its shares are publicly traded on Russian Trading System (RTS) and Moscow Interbank Currency Exchange (MICEX). Level 1 ADRs trade OTC in the USA and on the following international platforms: Frankfurt, Munich, Stuttgart and Berlin Stock Exchanges, London Stock Exchange International Order Book Proven oil reserves (SPE basis) of 13.734 bln barrels (DeGolyer and MacNaughton, 31 December 2002). Proven gas reserves (SPE basis) of 7.771 trillion cubic feet (DeGolyer and MacNaughton, 31 December 2002). Most reserves locate in Western Siberia, including the Northern Territory of Priobskoye Oil Field, one of Russia's largest. Average daily output was over 1.5 mln barrels in the fourth quarter of 2002. Total production of 69.5 mln tonnes (508 mln barrels) in 2002, 18% of Russian oil production, up 19.3% year-on-year. Approximately 51% of crude oil in 2002 was exported to Europe via the Baltic and Black Seas and Druzhba pipeline, to the CIS and China. Majority of refined products in 2002 were sold on domestic market, both at refinery gate and through local wholesale and retail networks. YUKOS owns over 1,200 branded filling stations. Corporate accounts reported in US GAAP for all years since 1997 and quarterly since 2001. Dividends: around $300 million in 2000, about $500 million in 2001, and about 700 million in 2002. |
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