Primary Parameters of Bonds Rated:

Series	A01
State Registration Number of Emission	4-01-00040-A
Par Value, Roubles	1000
Coupon Interest Rate	Coupon interest rate to be determined by the Board of Directors
Coupon Maturity	Six months
Amount of Emission, Roubles	600 000 000
Type of Allocation	Private Subscription
Maturity of Subscription	April 01, 2002
Date of Redemption	March 28, 2005
Underwriter	Alpha-Bank, Nomos-Bank, Vneshekonombank, Investment Company Region
Trading Exchange	Moscow Inter-Bank Currency Exchange

The B++ rating is indicative of satisfactory reliability of the JSC "IAIA" bonds. The pimary indications of production and commercial activities, financial stability, as well as the level of corporate management of the issuer during the period of bond circulation do not, on the whole, prevent performance of obligations spcified by the parameters of the emission.

Grave problems are absent in the core business activities of the issuer. The risk of complete or partial default of the issuer is comparatively low.