LenSpetsSMU’s stock-exchange bonds included on Bank of Russia Lombard List

07.07.2010

Under the resolution of the Board of Directors of Central Bank of Russia (letter of Central Bank of Russia dated 28.06.2010 No. 87-Т) CJSC SSMO LenSpetsSMU’s БО-02 series stock-exchange bonds (issue reg. 4В02-02-17644-J) were included in section V.2 of theBank of Russia Lombard List. The resolution shall be in effect from its issuance in the Bank of Russia Bulletin (No.38 (1207) dated 30.06.2010).

LenSpetsSMU’s stock-exchange bonds became the company's second issue to be included on the Bank of Russia Lombard List. Earlier, on 31st March 2010, 01 series bonds were included in the List (reg. 4-01-17644-J; see the Bank of Russia Bulletin No.18 (1187) dated 31.03.2010).

Currently, stock-exchange bonds are being traded on the secondary market at the price of 103.3-103.4 % of the nominal that corresponds to profitability of about 13.25% per annum. The volume of transactions in the main mode of stock-exchange trading from the moment of circulation commencement (28.05.2010) exceeds 390 ml. rubles, in negotiation transactions mode – over 2,650 ml. rubles.

Apart from the Bank of Russia Lombard List, since 2008 LenSpetsSMU has also been included on the Bank of Russia List of Organizations (a list of companies whose bills and indebtedness can be accepted by Central Bank of Russia as security for credit given to commercial banks).

REFERENCE

The БО-02 series bonded loan for 2 bn rubles was placed on 27th May 2010 for a 3-year term. The structure of the loan does not provide for any offers (put options).

The arrangers of the loan are OJSC Alfa-Bank and OJSC Promsviazbank.

The placing of stock-exchange bonds was the only example of its kind for CJSC SSMO LenSpetsSMU.

Standard & Poor’s rating agency assigned this issue a credit rating of ‘B’ according to the international scale.

On 30th June 2010, CJSC SSMO LenSpetsSMU’s stock-exchange bonds were included on the Bank of Russia Lombard List (letter of Central Bank of Russia dated 28.06.2010 No.87-T, published in the Bank of Russia Bulletin No.38 (1207) dated 30.06.2010).

The paying agent for the loan is OJSC Promsviazbank.

CONTACT DETAILS:

Natalia Menzel, Head of Public Relations

tel. (812) 348-21-25, e-mail: menzel_n@lenspecsmu.ru

Viktor Vasenev, Deputy CFO

tel. (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru