PIK Group will be hosting aconference callfor analysts and investors onTuesday, 30^th September 2008 to present and discuss itshalf year results for the six months ended 30 June 2008. The call follows the release of PIK Group’s financial results announcement, which will be available on the morning of Tuesday, 30^th September 2008. 

The call will behosted by Evgeny Luneev (CFO)andViktor Szalkay (IR Officer), the details are as follows:

Date:                  Tuesday, 30^th September 2008

Time:                  08.30 UK time

                        11.30 Moscow time

Dial-in Tels:          

                        UK Free Call:                   0808 109 0700

                        International:                  +44 203 003 2666

                        Russia Free Call (Moscow only): 810 800 2177 4011   

You will be asked for your full name & Conference ID. Please quote the following code:  3484643

The Conference Call, including Q&A’s, will last approximately 1 hour.

It will also be possible to download the Conference Call Presentation and results release from PIK Group’s website via the following link: https://www.pik.ru/eng

If you are not able to dial in to the conference call, there will be a replay facility (accessible approximately 1.5 hours following the call) which will be available until close of business on Monday, 6^th October.  The details are as follows: 

International Dial in:          +44 208 196 1998

Replay Access Number:           3484643#

I would be grateful if you could fill in the form on the attached invitation and return it either via email or fax to Kate Bundy at Citigate Dewe Rogerson (email: kate.bundy@citigatedr.co.uk, fax: +44 (0) 20 7282 2811).