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Financial Corporation "Sistema"

October 15, 2003

The RUIE Industrial Policy Committee under Vladimir Yevtushenkov to take in Natural Monopoly Reform working groups

Moscow, October 15, 2003. The Bureau of the Russian Union of Industrialists and Entrepreneurs (RUIE) has endorsed today consolidation of RUIE working groups for the power industry, railroad industry and gas industry and the industrial policy committee into a single industrial policy committee, with Vladimir Yevtushenkov as chairman and Ruben Vardanian, Oleg Deripaska and Boris Titov as cochairmen. The RUIE’s current industrial policy committee coordinates its efforts, on a regular basis, with the Federal Government, the Presidential Administration, the Ministry of Industry and Science, and other government agencies and public organizations with the aim of developing a national industrial policy to serve as a basis for improving the competitiveness of Russia’s economy. At its upcoming meetings, the committee is going to consider a report prepared by Anton Danilov-Danilian, head of the Presidential Administration’s Economy Department, dealing with the various aspects of import substitution as a key area of Russia’s industrial policy. The committee’s experts have been commissioned by the Bureau of the RUIE Board to prepare a report on measures to improve the investment climate in Russia. The committee will first study their report and send it to the Bureau of the RUIE Board for more scrutiny and action. A group of experts is being put together to draft a bill on an industrial policy for Russia. Said Vladimir Yevtushenkov, “Industrial policy is, for all its apparent need and importance for national economic development, a jumble of goodwill, good intentions and compromises until they are articulated in the form of a legal document we call federal law.” As an independent nongovernmental public organization, the Russian Union of Industrialists and Entrepreneurs (Employers) brings together more than 300,000 representatives of industrial, scientific, financial, economic, commercial and entrepreneurial organizations in all member territories of the Russian Federation that generate around 80% of Russia’s Gross Domestic Product. RUIE’s regional associations, organizations and representative offices are active in 82 Federation member territories. In addition, the Union incorporates over 100 cooperative alliances and associations in the fuel and energy sector and the military-industrial complex, instrument, machine tool, automobile and farm machinery industries, construction, the chemical, light, agricultural chemistry and several other industries. The RUIE’s Industrial and Investment Policy Working Group under Vladimir Yevtushenkov, member of the RUIE Board’s Bureau and Chairman of the Sistema JSFC Board of Directors, was set up in December 2001 and reorganized into an Industrial Policy Committee in February 2002. Following merger, in October 2003, with the natural monopolies reform working groups, the Committee now has among its members Victor Vekselberg, President of SUAL Holding Company; Boris Gidaspov, Chairman of Interkhimprom Investment Company’s Board of Directors; Andrei Kazmin, President of Sberbank Savings Bank; Andrei Kostin, President and Board Chairman of Vneshtorgbank Bank for Foreign Trade; Vladimir Lisin, Chairman of the Novolipetsk Steel Plant’s Board of Directors; Vladimir Litvinenko, President of the Mining Institute, St. Petersburg; Tatiana Ryskina, President of the Russian Development Bank; Nikolai Tonkov, member of the RUIE’s Bureau and head of the Environment Working Group; David Yakobashvili, Chairman of the Wimm-Bill-Dann Company’s Board of Directors; and Yuri Tokayev, member of the RUIE’s Bureau. For more details, contact: Andrei Bliznyuk Investor Relations Department Tel: +7 095 730 1543 Olga Pestereva Press Office ??? + 7 095 730 1705




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