Since November 2, 2009, two NWT bonds issues, series 03 and 06, are included in the calculation base for the MICEX (Moscow Interbank Currency Exchange) CBI (Corporate Bonds Index). Calculation base for the MICEX CBI consist of 42 bonds of 22 issuers, selected by the following criteria:

- the bonds are listed at the MICEX;

- the period till redemption / next offer (for the calculation base period) is not less than 6 months;

- the volume of issue is not less than RUR3 billion;

- the average daily volume of deals over the quarter is not less than RUR3 million;

- the number of trading days is not less than 10 per quarter.

Furthermore, bonds are included in the indices, taking into account the credit ratings assigned to the issuers by such international agencies as Standard & Poor’s, Moody’s and Fitch Ratings and such Russian rating agencies as RusRating, Expert RA, National Rating Agency and ÀÊ &M.

The MICEX CBI calculation base is revised once in three months.

Calculated since 2003, the index is the main indicator of the Russian market of corporate bonds. The inclusion in the MICEX CBI index will improve the liquidity of the NWT bonds by expanding the circle of potential investors oriented to highly liquid bonds of reliable issuers.

The third issue of NWT bonds is interest-bearing documentary bearer securities with mandatory central storage, series 03 (state registration number 4-03-00119-A of December 28, 2004) floated at MICEX on March 3, 2005. The volume of issue is 3 billion rubles, the number of bonds is 3 million with the par value of 1 thousand rubles. The maturity period is 6 years. The coupon income on the bonds is paid on the quarterly basis. The coupon rate is as follows: coupons 01 to 12 – 9.25% per annum (23.06 rubles); coupons 13 to 24 – 8.6% per annum (21.44 rubles). The bonds are included in the Russian Federation Central Bank’s Pawn List, are accepted by the Bank of Russia as security for direct REPO deals and are included in MICEX’s A1 quotation list. The 3rd bond loan was rated by Standard & Poor’s at ru À + and by Fitch Ratings at À (rus) .

The sixth issue of NWT bonds is interest-bearing documentary bearer securities with mandatory central storage, series 06 (state registration number 4-06-00119-A of October 16, 2008) floated at MICEX on August 5, 2009. The volume of issue is 3 billion rubles, the number of bonds is 3 million with the par value of 1 thousand rubles. The maturity period is 10 years. The coupon income on the bonds is paid on the quarterly basis. The 6th bond loan was rated by Standard & Poor’s at ruAA- and by Fitch Ratings at À+ (rus).