SCREAN has assigned Concern “Kalina” rating B++ (high reliability). After publishing by this system of complex information disclosing the reliability rating of debt issuers it leaked out. The base of this rating is financial statement for last three quarter of 2002. Four groups of financial rates have been analyzed: liquidity of securities, the level of corporate management, credit history and financial statement.

116 Companies which had circulating securities (bills and bonds) were included in final rating

– 64 banks and 52 Companies of non-financial sector.

Addition information you can get at press-secretary of Concern “Kalina”

Sergey Kazanzev, tel/fax. (3432) 65-83-06, e-mail: pressa@kalina.org