Portfolio changes 2009

Additions:

1) OOO "Oil-and-gas technologies". Sinek and Tatneft co-founded an oil-and-gas technology company (the "Company") in September 2009. Sinek transferred its 100% shareholding in Neftekhimproekt, one its portfolio companies, to the Company for a 26% ownership. Tatneft owns the remaining 74%. The principal activity of the Company is research, design and survey work for oil companies in Russia with a particular focus in the Republic of Tatarstan.

Change of Ownership:

1) First Development Corporation. Sinek increased its ownership in First Development Corporation from 19% to 76.9% in March 2009.

2) Tatenergo. As a result of a new Russian law in the energy sector, Tatenergo was required to divest its grid business from its operations. Prior to the new energy law and divestiture of the grid business, SINEK owned 51% of Tatenergo. Subsequent to Tatenergo's reorganization, SINEK's ownership in Tatenergo (generation business) increased to 75.03% without purchasing any additional shares. The effect of this ownership change on the value of Tatenergo in SINEK's portfolio will be disclosed following the completion of SINEK's 2009 audit in May 2010.

3) Ak Bars Bank. On 2 October 2009, Sinek's 100% owned subsidiary company, SINEK INVESTMENT&DEVELOPMENT LIMITED purchased 13.53% of Ak Bars Bank's shares thus increasing total Sinek's ownership in Ak Bars Bank to 16.32%. On 5 November 2009, Ak Bars Bank increased its share capital by way of issuing new additional shares. Sinek participated in the bank's capital issue and increased its direct ownership in Ak Bars Bank from 2.8% to 8.9% after giving effect to the capital increase. SINEK INVESTMENT&DEVELOPMENT LIMITED did not participate in the Ak Bars Bank's capital increase, and as a result, its ownership in the bank decreased from 13.53% to 9.2%. Sinek's ownership (direct and indirect) in Ak Bars Bank increased to 18.206 %.