Portfolio changes 2007

Additions:

1) Omega Finance Group. SINEK and Regional Financial Company (Ekaterinburg, Russia) formed their subsidiary to consolidate a number of assets required for KMPO's development. Sinek's ownership in Omega Finance Group amounted to 50%. During 2007 Omega Finance Group purchased Aviamotor's shares, thus totaling Omega Finance Group ownership in Aviamotor to 76.9%.

2) The First Development Corporation. On 17 October 2007 Sinek and Investneftekhim founded The First Development Corporation (FDC) to support a development and implementation of the infrastructural sites in the Republic of Tatarstan. Total ownership of Sinek in FDC amounted to 100%, 81% via Investneftekhim and 19% by direct ownership.

Change of Ownership:

1) AK BARS Bank. On 29 June 2007 Investneftekhim sold 10.93% of shares of Ak Bars Bank thus decreasing Sinek’s ownership in Ak Bars Bank to 2.8%.

2) Alnas. On 20 June 2007 Sinek's ownership in Alnas via Investneftekhim decreased from 25,001% to 0% as a result of selling shares of Alnas by Investneftekhim.