Petrovax

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The EBRD is considering an acquisition of a minority equity interest in NPO Petrovax Pharm LLC, a niche pharmaceutical company organized under the laws of Russian Federation. The proceeds from the transaction will be used primarily in connection with (i) construction of an additional production line at the company's facility in Podolsk; (ii) research, development and commercialization of new products; and (iii) enhancement of the company's organizational structure and corporate governance standards. The transition impact in this Transaction will be achieved through: NPO Petrovax Pharm is a niche pharmaceutical company involved in development and production of branded drugs and vaccines. The company’s main activities include development, registration, production and distribution of patented scientific inventions, primarily in the fields of immunology and viral diseases. Up to RUB 664.2 million. Up to RUB 664.2 million. The proposed project has been screened C/1. A range of environmental, health and safety audits and assessments have been undertaken as part of the Bank's due diligence. In December 2006, an environmental and social audit was conducted by independent consultants as part of the Bank's monitoring programme. Along with a series of environmental reports from the Company, the Bank's Environmental Specialist also visited the plant. All of the reports received, including the site visits, confirm that there are few, if any EHS risks associated with operation of the Company’s pharmaceutical plant in Podolsk. The plant has been built to a high standard and is operated in accordance with applicable national environmental, health and safety requirements, with GMP standards and in line with best international practice. An environmental action plan (EAP) has been developed and is being implemented in accordance with the Bank's requirements. The new production line to be financed with the Bank’s equity will have no significant adverse environmental impacts and will be constructed and operated to EU and best international standards. None. NPO Petrovax Pharm Mr. Arkadiy V. Nekrasov, General Director Tel: +7 (495) 984-2754 Fax: +7 (495) 984-2753 Email: NekrasovAV@petrovax.ru