| Target company / Country | Long-Term
Business Risk | Long-Term
Growth Possibility | Latest Report |
| Magnit (MGNT) | very low | high | MGNT Q1 2010 Update and Comment, Target Price 07/01/10 |
| Kazkommertsbank (KKB) | medium | provided in the report
| KKB Q1 2010 Update and Comment, Target Price 06/30/10 |
| VTB Bank (VTBR) | very low | high | VTBR Q1 2010 Update and Comment, Target Price 06/25/10 |
| Sberbank (SBER) | low | provided in the report
| SBER Q1 2010 Update and Comment, Target Price 06/22/10 |
| Acron (AKRN) | medium | high | AKRN Q1 2010 Update and Comment, Target Price 06/21/10 |
| Raspadskaya (RASP) | medium | provided in the report
| RASP Analyst Update, Target Price 06/21/10 |
| Magnitogorsk Iron and Steel Works | low | high | MMK Q1 2010 Update and Comment, Target Price 06/17/10 |
| Evraz Group (EVR) | low | provided in the report
| EVR Q1 2010 Update and Comment, Target Price 06/16/10 |
| Gazprom Neft (SIBN) | low | high | SIBN Q1 2010 Update and Comment, Target Price 06/16/10 |
| Lukoil (LKOH) | low | provided in the report
| LKOH Q1 2010 Update and Comment, Target Price 06/15/10 |
| Severstal (CHMF) | low | high | CHMF Q1 2010 Update and Comment, Target Price 06/14/10 |
| AFI Development (AFID) | medium | provided in the report
| AFID Q1 2010 Update and Comment, Target Price 06/14/10 |
| Mobile TeleSystems (MBT) | low | high | MBT Q1 2010 Update and Comment, Target Price 06/11/10 |
| KazakhGold (KZG) | high | provided in the report
| KZG Analyst Update and Comment, Target Price 05/25/10 |
| Polyus Gold (PLZL) | medium | no growth | PLZL Analyst Update and Comment, Target Price 05/21/10 |
| Petropavlovsk (POG) | low | provided in the report
| POG Analyst Update and Comment, Target Price 05/20/10 |
| PIK Group (PIK, PIKK) | medium | high | PIKK Analyst Update and Comment, Target Price 05/19/10 |
| Mechel (MTL) | medium | provided in the report
| MTL Analyst Update and Comment, Target Price 05/19/10 |
| Norilsk Nickel (GMKN) | low | provided in the report
| GMKN Analyst Update and Comment, Target Price 05/18/10 |
| Raven Russia (RUS) | medium | high | RUS Analyst Update and Comment, Target Price 05/13/10 |
| Halyk Savings Bank (H4L1, HSBK) | low | provided in the report
| HSBK Analyst Update and Comment, Target Price 05/06/10 |
| JKX Oil & Gas plc (JKX) | low | very high | JKX Analyst Update and Comment, Target Price 05/05/10 |
| Tatneft (TATN) | low | provided in the report
| TATN Analyst Update and Comment, Target Price 05/04/10 |
| Rosneft (ROSN) | low | high | ROSN Analyst Update and Comment, Target Price 05/04/10 |
| Gazprom (GAZP) | very low | provided in the report
| GAZP Analyst Update and Comment, Target Price 05/03/10 |
| Integra Group (INTE) | medium | high | INTE Analyst Update and Comment, Target Price 05/03/10 |
| Eurasia Drilling Company (EDCL) | low | provided in the report
| EDCL Analyst Update and Comment, Target Price 04/30/10 |
| Chelyabinsk Zinc Plant (CHZN) | low | high | CHZN Analyst Update and Comment, Target Price 04/30/10 |
| KazMunaiGas Exploration and Production | low | high | KMG Analyst Update and Comment, Target Price 04/27/10 |
| Regal Petroleum (RPT) | medium | provided in the report
| RPT Analyst Update and Comment, Target Price 04/27/10 |
| Sistema-Hals (HALS) | medium | high | HALS Analyst Update and Comment, Target Price 04/26/10 |
| Max Petroleum (MXP) | medium | provided in the report
| MXP Analyst Update and Comment, Target Price 04/26/10 |
| Polymetal (PMTL) | medium | no growth | PMTL Analyst Update and Comment, Target Price 04/22/10 |
| Ferrexpo (FXPO) | low | provided in the report
| FXPO Analyst Update and Comment, Target Price 04/20/10 |
| Pharmstandard (PHST) | low | no growth | Pharmstandard (PHST), PHST Analyst Update 04/16/10 |
| Novorossiysk Commercial Sea Port | low | high | NMTP Analyst Update 04/15/10 |
| Bank Vozrozhdeniye (VZRZ) | medium | high | Bank Vozrozhdeniye (VZRZ), VZRZ FY2009 Analyst Update 04/13/10 |
| Vimpelcom (VIP) | medium | high | Vimpelcom (VIP), VIP FY2009 Analyst Update 04/09/10 |
| Rostelecom (RTKM, RKMD) | low | provided in the report
| Rostelecom (ROS, RTKM, RKMD), RKMD FY2009 Analyst Update 04/09/10 |
| Novolipetsk Steel (NLMK) | low | provided in the report
| Novolipetsk Steel (NLMK), NLMK FY2009 Update Report 04/06/10 |
| Sibirtelecom (ENCO) | low | high | Sibirtelecom (ENCO), ENCO Update Report 04/05/10 |
| RGI International (RGI) | low | provided in the report
| RGI International (RGI), RGI FY2009 Update Report 04/01/10 |
| X5 Retail Group (FIVE) | low | high | X5 Retail Group (FIVE), FIVE Update Report 03/26/10 |
| Wimm-Bill-Dann Foods (WBD) | low | high | Wimm-Bill-Dann Foods (WBD), WBD FY2009 Update Report 03/24/10 |
| Hambledon Mining (HMB) | medium | provided in the report
| Hambledon Mining (HMB), HMB Update Report 03/24/10 |
| Kazakhmys (KAZ) | low | provided in the report
| Kazakhmys (KAZ), KAZ Update Report 03/22/10 |
| Eurasian Natural Resources Corporation | medium | very high | ENRC Update Report 03/16/10 |
| Zhaikmunai LP (ZKM) | low | provided in the report
| Zhaikmunai LP (ZKM), ZKM Update Report 03/15/10 |
| Steppe Cement Ltd (STCM) | low | high | Steppe Cement Ltd (STCM), STCM Update Report 03/12/10 |
| MHP S.A. (MHPC) | low | high | MHP S.A. (MHPC), MHPC Analyst Update 03/10/10 |
| Ukrproduct (UKR) | medium | provided in the report
| Ukrproduct (UKR), UKR FY 2009 Sales Update Report 03/10/10 |
| Cadogan Petroleum (CPD) | very high | no growth | Cadogan Petroleum (CPD), CPD Analyst Update 03/09/10 |
| UkrTelecom (UK1) | high | provided in the report
| UkrTelecom (UK1), UK1 Company and Country Update 03/09/10 |
| Uralsvyazinform (URSI) | very low | high | Uralsvyazinform (URSI), URSI Analyst Update 02/23/10 |
| CAToil AG (O2C) | very low | high | O2C Analyst Update 02/18/10 |
| Novatek (NVTK) | low | provided in the report
| NVTK Company, Industry and Country Update 02/17/10 |
| OAO TMK (TRMK) | low | high | TRMK Analyst Update and FY 2009 Production Update 02/11/10 |
| LSR Group (LSRG) | low | provided in the report
| LSRG Analyst Update 02/10/10 |
| Synergy (SYNG) | low | high | SYNG Analyst Update and Q4 2009 Sales Update 02/09/10 |
| The Seventh Continent (SCON) | medium | provided in the report
| SCON Analyst Update 01/25/10 |
| Efes Breweries International (EBID) | low | provided in the report
| EBID Analyst Update and 12m 2009 Sales Update 01/14/10 |
| Highland Gold Mining (HGM) | low | high | HGM Analyst Update 01/08/10 |
| Ovoca Gold (OVX) | medium | provided in the report
| OVX Analyst Update 01/05/10 |
| VolgaTelecom (NNSI) | low | provided in the report
| NNSI 9m 2009 Analyst Update 12/29/09 |
| XXI Century Investments | high | no growth | XXIC H1 2009 Analyst Update 12/28/09 |
| Uralkali (URKA) | low | provided in the report
| Uralkali (URKA), URKA Company, Industry and Country Update 12/28/09 |
| Frontier Mining (FML) | high | high | FML Company, Industry and Country Update 12/23/09 |
| Aurum Mining (AUR) | medium | provided in the report
| Comment on AUR`s Latest Events, Forecast on Growth and Risk 12/23/09 |
| Roxi Petroleum (RXP) | medium | provided in the report
| RXP Analyst Update 12/22/09 |
| North-West Telecom (SPTL) | low | provided in the report
| Comment on SPTL`s Latest Events, Forecast on Growth and Risk 12/18/09 |
| Bank of Moscow (MMBM) | medium | very high | Comment on MMBM`s Latest Events, Forecast on Growth and Risk 12/17/09 |
| Urals Energy (UEN) | high | provided in the report
| UEN Analyst Update 12/17/09 |
| Frontier Mining (FML) | high | high | Comment on FML`s Latest Events, Forecast on Growth and Risk 12/15/09 |
| Sistema (AFKS) | medium | provided in the report | Comment on AFKS` Latest Events, Forecast on Growth and Risk 12/09/09 |
| Integra Group (INTE) | medium | provided in the report | Integra Group (INTE), INTE 9m 2009 Analyst Update 12/07/09 |
| Cherkizovo Group (CHE) | close to zero | high | CHE, Comment on Latest Events, Forecast on Growth and Risk 11/25/09 |
| Trader Media East (TME) | medium | provided in the report | TME, Comment on Latest Events, Forecast on Growth and Risk 11/19/09 |
| Mirland Development (MLD) | medium | low-medium | MLD, Comment on Latest Events, Forecast on Growth and Risk 11/18/09 |
| Mosenergo (MSNG) | low | no growth | MSNG, Comment on Latest Events, Forecast on Growth and Risk 11/16/09 |
| Rambler Media (RMG) | medium | no growth | RMG, Comment on Latest Events, Forecast on Growth and Risk 11/12/09 |
| Rusforest (RUSF) | high | low | RUSF, Comment on Latest Events, Forecast on Growth and Risk 11/04/09 |
| RusHydro (HYDR) | low | provided in the report | HYDR, Comment on Latest Events, Forecast on Growth and Risk 11/03/09 |
| Power Machines (SILM) | low | medium | SILM, Comment on Latest Events, Forecast on Growth and Risk 10/30/09 |
| MOESK (MSRS) | close to zero | high | MSRS, Comment on Latest Events, Forecast on Growth and Risk 10/28/09 |
| Alliance Oil Co. (AOILSDB) | low | provided in the report | AOIL SDB, Comment on Latest Events, Forecast on Growth and Risk 10/28/09 |
| Enel OGK-5 | low | high | OGKE, Comment on Latest Events, Forecast on Growth and Risk 10/28/09 |
| Sitronics (SITR) | low | provided in the report | SITR, Comment on Latest Events, Forecast on Growth and Risk 10/27/09 |
| Razgulay Group (GRAZ) | medium | provided in the report | GRAZ, Comment on Latest Events, Forecast on Growth and Risk 10/22/09 |
| Russian Real Est. Invest. Comp. | medium | provided in the report | RURI B, Comment on Latest Events, Forecast on Growth and Risk 10/20/09 |
| Amur Minerals (AMC) | medium | provided in the report | AMC, Company Update and Analyst Comment on Latest Events 10/20/09 |
| Aeroflot (AFLT) | low | provided in the report | AFLT, Comment on Latest Events, Forecast on Growth and Risk 10/16/09 |
| Inter RAO UES (IRAO) | very low | provided in the report | IRAO, Comment on Latest Events, Forecast on Growth and Risk 10/15/09 |
FEES
| medium | very high | FEES, Comment on Latest Events, Forecast on Growth and Risk 10/15/09 |
| Globaltrans Investment (GLTR) | medium | high | GLTR, Comment on Latest Events, Forecast on Growth and Risk 10/12/09 |
| UTair Aviation (TMAT) | low | medium | TMAT, Comment on Latest Events, Forecast on Growth and Risk 10/09/09 |
| Zirax PLC (ZRX) | medium | provided in the report | ZRX, Comment on Latest Events, Forecast on Growth and Risk 10/08/09 |
| Baltika Brewery (PKBA) | low | provided in the report | PKBA, Comment on Latest Events, Forecast on Growth and Risk 10/07/09 |
| Avtovaz (AVAZ) | medium | close to zero | AVAZ, Comment on Latest Events, Forecast on Growth and Risk 9/17/09 |
| Victoria Oil and Gas | medium | provided in the report | VOG, Comment on Latest Events, Forecast on Growth and Risk 8/19/09 |
| Trans-Siberian Gold | high | low | TSG, Comment on Latest Events, Forecast on Growth and Risk 8/18/09 |
| Russia | high | provided in the report | Russia, Comment on Country’s Latest Events and Forecast 08/17/09 |
| Surgutneftegas (SNGS) | low | provided in the report | SNGS, Comment on Latest Events, Forecast on Growth and Risk 08/13/09 |
| Center Telecom (CTLK) | low | low | CTLK, Comment on Latest Events and Forecast 07/10/09 |
| Sibir Energy (SBE) | high | provided in the report | SBE, Comment on Latest Events and Forecast 07/03/09 |
