OTKRITIE Financial Corporation llc © 2007. 
CONDITIONS OF USING INFORMATION PLACED ON THE SITE
Unauthorised duplication, replication and dissemination for any purpose are strictly prohibited. OTKRITIE Financial Corporation (hereinafter referred to as «the Company»).

ANALYSTS’ ACKNOWLEDGMENT AND DISCLAIMER

Any information, news and other data on this website (hereinafter “information on the site”) are provided for information purposes only. Information on the site contains data on current flotation of securities, projections of (i) issuers’ future financial performance, (ii) equity securities prices for the 12-month period since the time of their publication on the site, (iii) equity market situation or related occurrences. Information on the site is not and should not be construed as an offer, or an instigation of an offer, to buy or sell any securities or financial instruments. The Company does not assert that information on the site is entirely accurate. The Company accepts no liability for any possible losses arising from the use of information on the site. The Company undertakes no obligation to update information on the site or to correct known instances of error.

Equity market investment involves various risks, such as: (i) risks connected with actions in certain jurisdictions; (ii) risks associated with economic conditions, competitive environment, rapid technology and market changes, and other factors leading to material deviations from predicted parameters. The specified factors can lead to actual results differing materially from assumptions or proposed actions by the Company as detailed on the site.

Release and distribution of securities information in certain jurisdictions may be restricted by law and persons into whose possession this information comes should inform themselves about, and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Information on the site is not intended to be accessed by any territory of the United States (including its territories and dependent territories, any states of USA and District of Colombia), Australia, Canada, and Japan. For Great Britain, information on the site is addressed exclusively (i) to persons located outside the United Kingdom, or (ii) investment professionals falling within article 19(3) of the Financial Services and Markets Act 2000, Order 2005 (hereinafter “the Order”), and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2) of the Order. Any person who is not a relevant person should not act or rely on information on the site.

Analysts’ criteria of stock investment rating valuation

Investment rating	Valuation criteria
BUY	Stock upside potential to the target price not lower than 40%
HOLD	Stock upside potential to the target price from 0% to 40%
SELL	Negative stock upside potential