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OAO Raspadskaya Announces Intention to Float


Moscow, 18 October 2006 — OAO Raspadskaya («Raspadskaya» or «the Company»), the second-largest coking coal producer in Russia, today announced its intention to launch a public offering of ordinary shares which are held by the Company’s principal shareholder, Corber Enterprises Limited. Shares will be offered to investors in the Russian Federation and institutional investors outside of the United States in reliance on Regulation S of the U.S. Securities Act of 1933.

The Company, whose shares have recently been listed on the Russian Trading System (RTS), applied to have its ordinary shares listed on the Moscow Interbank Currency Exchange (MICEX). Up to 20% of the Company’s charter capital will be offered in the IPO, which is intended to take place before the end of the year, after which shares will commence trading.

«Not only will we be the first Russian coal company to go public, but we believe this will make us the largest listed pure coking coal producer globally» said Gennady Kozovoy, CEO and member of the Board of Directors of Raspadskaya. «Our IPO will help us determine a market value for our business, and gain international recognition as a best in class player in the sector, which is particularly important in light of our strategic plans to increase our presence in the market backed by continuous production growth.»

Credit Suisse and Deutsche UFG have been appointed as global co-ordinators of the public offering, and Credit Suisse, Deutsche UFG and Morgan Stanley will act as joint book-runners.

The Chairman of the Company’s Board of Directors Alexander Vagin said: «Raspadskaya, with its highly efficient production, low cost base and strong financial indicators is the leader in the Russian coal industry. Our IPO is an important step in the realisation of our long-term development plans.»

Notes for editors

Raspadskaya’s facilities include two active underground mines, an active open-pit mine, a coal preparation plant and one underground mine under construction, as well as own coal transportation network and a number of integrated infrastructure companies. In 2005, the company produced 9.7 million tonnes of coking coal.

More than 95% of Raspadskaya’s ordinary shares are held by Corber Enterprises Limited, an entity ultimately owned by Raspadskaya management and Evraz Group on a parity (50/50) basis.

Press contacts

OAO Raspadskaya
Oleg Kuzakov, Alexander Andreev
Tel: +7 (495) 147 1516
The PBN Company
Artem Dovlatov
Tel: +7 (495) 775 0077

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