MICEX Stock Exchange is the largest equity trading platform in Russia, on which shares of over 190 Russian issuers are traded daily, including blue chips such as Gazprom, Lukoil, Surgutneftegas, Sberbank, UES of Russia, Norilsk Nickel, MTS, Tatneft, Novatek and many more, with a total market capitalisation of around 885 billion US dollars. 586 organisations participate in trading on the MICEX Stock Exchange. This is a group of professional members with a client base of over 260 thousand investors. In 2006 the trade volume on the MICEX SE reached 755 billion US dollars, including 550 billion US dollars in share trading, which composes over 90% of the total turnover on trading platforms in Russia. Many investment funds trade on the Stock Exchange, stimulating the growth of mutual funds and other collective investment vehicles. The MICEX index, the key indicator for Russian stocks, grew in 2006 by 67.5%.

The firms of the PricewaterhouseCoopers global network provide industry-focused assurance, tax and advisory services to build public trust and enhance value for clients and their stakeholders. More than 140,000 people in 149 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

PricewaterhouseCoopers can advise companies raising debt or equity capital in capital markets. We offer tailored advice to a broad range of businesses from smaller, entrepreneurial companies to national or multinational companies that regularly use the international capital markets.

For organisations looking to raise capital for expansion and growth via the public markets, PricewaterhouseCoopers can provide advice on Initial Public Offerings (IPOs) and finance raising. We offer expert advice and provide companies with the benefit of access to specialists in the rules and regulations governing public listed companies on all major stock exchanges.

PricewaterhouseCoopers is strongly represented in both London and Almaty where our teams have substantial experience of working together to achieve the business objectives of our clients based in Kazakhstan.

"PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.

Ashurst is a leading international law firm. It was founded in 1822 in the City of London by a lawyer called William Ashurst. Since then we have been providing legal support to companies and financial institutions from around the world. Today, there are over 800 lawyers of different nationalities working at Ashurst. Independent legal ratings publications consistently rate Ashurst among top 10 law firms in Great Britain across a number of practice areas. These ratings publications include UK editions of

Legal 500 (www.legal500.com);
Chambers (www.chambersandpartners.com/uk);
Thomson Financial (www.thomson.com/financial);
and Mergermarket (www.mergermarket.com).

Ashurst is rated as the No. 2 law firm by the number of listed corporate clients in the United Kingdom. We act for more companies listed on the London Stock Exchange than most other law firm. Ashurst won M&A Team of the Year 2005 at The Lawyer Awards.

Ashurst's Russia and CIS group is a multi-disciplinary, full service legal practice with a geographical focus on the countries comprising the Commonwealth of Independent States (CIS). The CIS includes Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan.

M: Communications is a leading European Financial Public and Investor Relations firm specialising in all key communications areas: corporate and financial communications, M&A, IPO, crisis PR, litigation support /dispute resolution and Investor Relations.

M: assists companies in marketing themselves to the international investment community, targeting investors, industry analysts and international financial and business media, as well as establishing and/or maintaining a best-practice internal PR and IR function and training the staff.

M:Communications has an in-depth experience of working for many of the world’s leading companies across many markets and industries, such as StatOil, Carlsberg, Gas de France, LVMH, Telia Sonera and Vivendi Universal.

Company’s experts have completed and worked on more than 100 high profile international IPOs and M&A deals, and have much experience of the London Stock Exchange's Main and AIM markets, as well as main European bourses.

M: has a strong Russia/CIS practice and has been working with a number of Russian and CIS companies.

ZAI is a London-based, internationally focussed investment banking firm, offering a full range of corporate finance, broking and advisory services to a clientele of small to medium sized companies. ZAI executes corporate finance and broking assignments for local clients overseas and for overseas clients locally.

ZAI has a unique investor base comprising Institutions that specifically invest in "foreign", i.e. non-UK shares, via the UK markets. In addition to the London-based Institutional Investor market, ZAI place shares with European, Asian and American investors, giving them a global distribution capability.

In our corporate finance practice, ZAI employs a unique "7 Solutions" methodology, which significantly increases our client’s chances for success when raising capital.

ZAI executives have advised a number of highly successful clients over the years, and a selection of these can be found on the “former clients” section of the website.

ZAI is a member of the London Stock Exchange and licensed as a Nominated Advisor and as a Broker.

The Risk Advisory Group (TRAG) is an acknowledged leader in risk management. We specialise in providing strategic analysis, advisory services and operational support to a wide range of private and public sector organisations. In the last ten years we have conducted assignments in more than 100 countries.

Taking strategic decisions requires reliable information and timely advice. The insight we provide enables clients to mitigate risk and take decisions with confidence. Our knowledge and experience help our clients to bring threats and opportunities into sharp focus, and to understand clearly the risks standing in the path of success.

The economies of Central and Eastern Europe and the former Soviet Union offer attractive investment opportunities. However, these are accompanied by a set of risks which investors need to understand and manage effectively. We provide insight and intelligence required to make effective business decisions.

We provide specialist coverage of these emerging markets and the particular issues that investors encounter. We advise clients on anticipating and mitigating risk, resolving specific local problems and making commercial decisions in difficult and challenging business environments. We work with clients to promote high standards of corporate governance.

The Risk Advisory Group maintains a permanent operating office in the Russian Federation employing nine full-time professional consultants in Moscow (plus five affiliated professional staff in our head office in London) all of whom are native Russian speakers. The team’s experience in Russia is unrivalled. In 2006 TRAG performed 243 enquiries in Russia across numerous sectors of the economy and regions of the country. Our clients include multilateral development banks, leading international investment banks and some of the world’s largest corporations.

TRAG was founded in late 1997 and currently employs 125 staff at offices in London, Moscow, Paris, Baghdad, Madrid, Riyadh, Rotterdam and Dubai.

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With Euro 1,035 billion in assets and 64,103 employees, Deutsche Bank offers unparalleled financial services in 73 countries throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank's Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of debt financings including bonds, medium term note and commercial paper programs, asset backed and mortgage backed securities, collateralized debt obligations, project financings, escrows and syndicated loans. It is also one of the leading depositaries for American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), and, through a fully integrated network of specialist offices worldwide, provides domestic custody services in 28 securities markets.

Nomura Group

Nomura is a global financial services group dedicated to providing a broad range of financial services for individual, institutional, corporate and government clients. The Group offers a diverse line of competitive products and value-added financial and advisory solutions through its global headquarters in Tokyo, over 155 branches in Japan, and an international network in 30 countries; with regional headquarters in Hong Kong, London and New York.

The Group’s business activities include investment consultation and brokerage services for retail investors in Japan, and, on a global basis, brokerage services, securities underwriting, investment banking advisory services, merchant banking, and asset management.

Investment Banking Division

Our European Investment Banking Division provides the full range of corporate finance and Equity Capital Markets services to clients across Europe, Central & Eastern Europe, Russia and the CIS. We also provide services to non-European corporates, particularly Japanese and Asian for European transactions.

We work closely with Nomura's Debt Capital Markets, Research and Sales & Trading specialists as appropriate, enabling us to provide expert advice and execution for investment banking transactions; including equity and debt fund raisings, as well as advisory transactions.

Our European team has 90 investment banking professionals, and dedicated legal and transaction support staff. Our team in London supports Nomura's network of 14 offices across the EMEA region.

In Central and Eastern Europe, Nomura has been active for the last 16 years and has undertaken a wide range of work for both state and private companies as well as governments. We have offices in Budapest, Moscow.