New specifications approved for derivatives contracts on the RTS Index and
Sectoral RTS Indices

On November 20th, 2008 the RTS Board of Directors approved the new specifications of the following contracts:

1. futures contract on the RTS Index;
2. futures contract on the RTS Index – Oil & Gas;
3. futures contract on the RTS Index – Consumer & Retail;
4. futures contract on the RTS Index - Telecom;
5. Options contract on the RTS Index futures contract.

The amended specifications were approved in view of the high volatility of the spot market and the possible suspension of trading in the underlying shares that constitute the RTS Index and the Sectoral RTS Indices on the last day the contracts are trading. In the event that the constituent shares with the largest weight in the corresponding Index stop trading the new specifications provide for:

• a special methodology for determination of the settlement price for the futures contracts and a transfer of the futures contract’s last trading day;
• cancellation of the automatic exercise of the at-the-money options.

On November 25th, 2008 the amended specifications were submitted to the Federal Financial Markets Service for the regulator’s approval.

For further information, please contact the RTS Public Relations Department at +7(495)705-9031.