Troika Dialog Pre-IPO and Bond Issue Credit Facility

complete

The proposed project is a revolving stand-by facility to be used by the Client to provide short term bridge loans to its corporate clients seeking an access to capital markets through primary equity and bond issues. The project will complement Client’s advisory business and will encourage development of financial intermediation in to Russia and FSU and foster competition on the local capital markets. Transition impact stems from improved access to capital markets for Russian companies seeking to raise equity and debt finance by broadening source of their funding beyond banking sector. The project will contribute to sustainable improvement in transparency of Russian issuers implied by public listing. The project will also encourage greater competition among investment firms operating in the Russian market. Finally, it will improve depth of the domestic capital market by widening local investor base through Client’s expanding retail network. Founded in 1991, Troika Dialog Group (“the Group”),is a market leading independent full service investment banking, brokerage and asset management firm with a focus on securities markets in Russia and the CIS. The Group’s operations are located in 13 cities across Russia as well as Kyiv, Nicosia, London and New York. The Group is a partnership with 100% ownership by the management and employees. The principal shareholder ,Chairman of the Board and CEO is Mr. Ruben Vardanian. The Group recorded total revenues of USD450 million in its financial year ending 30th September 2006 and recorded total assets of USD 2.4 billion and total stockholders ‘ equity of USD 288 million as at 30th September 2006 under US GAAP audited consolidated financial statements. US$ 100 million. US$ 200 million. The Client will be required to comply with the EBRD’s Environmental Procedures for Intermediated Financing through Local Financial Institutions including ensuring compliance with the applicable national environmental, health, safety and labour standards and regulations, and adherence to the EBRD’s Environmental Exclusion and Referral List. None. Mr. Richard Ogdon Troika Dialog Group 4, Romanov pereulok, 125009 Moscow, Russia Tel. +7 (495) 787 2380 Fax +7 (495) 258 0547