1. UKRAINIAN EXCHANGE: Advanced Trading Technologies of the Ukrainian Securities Market Kiev 2009

2. CONTENT 1.About Ukrainian Exchange 2.Trading and Settlement Technologies 3.Access Options and Fees

3. HISTORY 25.12.2007«The Stock Club» signed a MOU with RTS 15.05.2008The Foundation Agreement signed 02.10.2008The Ukrainian Exchange is registered as a legal entity 18.11.2008The Securities and Exchange Commission approved the first trading rules 16.12.2008A stock exchange license is obtained 26.03.2009Market is launched 27.04.2009Start of UX Index

4. FOUNDERS 1. ALFA CAPITAL12. LINE SECURITIES 2. VELES CAPITAL13. PROSPECT INVESTMENTS 3. VELMA UKRAINE14. RENAISSANCE CAPITAL 4. GALT & TAGGART15. SINCOME 5. DRAGON CAPITAL16. SOKRAT 6. INEKO17. TEKT-TRADE 7. ITT-INVEST18. TROIKA DIALOG UKRAINE 8. KBC SECURITIES19. UKRAINIAN STOCK CENTER 9. KIEV SECURITIES GROUP20. UKRANET 10. KOMEX SECURITIES21. FOYL SECURITIES NEW EUROPE 11. CONCORDE CAPITAL22. RTS STOCK EXCHANGE

5. TARGETS Minimum program: To build an effective infrastructure of the Ukrainian securities market which will allow: Investors to make money not only on the bullish market Companies to raise capital not only from the foreign investors Market participants to expand business serving domestic investors Maximum program : To bring the Ukrainian financial market to the European level

6. TRADING DAY ActionPeriod Order submission and cancel 10:00 – 17:00 Continuous Order-Driven Trading 10:30 – 17:00 Assets withdrawal 10:30 – 17:00

7. SETTLEMENT TECHNOLOGY Order-Driven Trades: Delivery Versus Payment 100% pre-funding of money or securities before an order is submitted Settlement on the day of trade execution (T+0) Negotiated Trades T+0: Delivery Versus Payment 100% pre-funding of money and securities (T+0 Settlement) Negotiated Trades T+N: Delivery Versus Payment No pre-funding required (Settlement from T+0 to T+30)

8. SETTLEMENT TECHNOLOGY (2) ActionInitiatorPeriod Transfer of assets to a trading account before trading session Custodybefore 10:00 Transfer of assets to a trading account during trading session Custody10:30 – 17:00 Withdrawal of assets from a trading account Trader10:30 – 17:00 Settlement of the tradesExchange15:15 & 17:15 Both securities and money are settled within the trading accounts opened at MFS depository.

9. 100% ELECTRONIC TRADING Every trading member is a party of the Personal Signature Analogue Agreement (part of the Exchange Trading Rules registered by the Securities Commission) Every order submitted to the trading system is signed by the Personal Signature Analogue From the two counter orders an order submitted first is an offer, an order submitted later is an accept Purchase-and-sale agreement is registered electronically at the moment when an offer “meets” an accept “Hard copy” trade confirmation is not required At the end of every trading day the Exchange provides participants with the list of executed trades (list of electronic agreements)

10. SOFTWARE Trading Station: Front-End GUI Trading or Read-Only Access 3 Language support (English, Русский, Українська) API Gateway: Application Program Interface (API) for: –Direct Market Access systems –On-line integration with back-office and risk- management systems Caching Server: Less traffic for multi-station trading desks

11. CONNECTIVITY TypeTradingRead-Only Leased Line (recommended)++ VPN over Internet line++ Internet line-+

12. FEES AND CHARGES One time, UAHMonthly, UAH Trading Station1 800 +VAT600 +VAT View-Only / Client Station1 200 +VAT350 +VAT API Gateway1 800 +VAT600 +VAT WAN Connection600 +VAT300 +VAT Additional Services: On-Site Support, per hour300 +VAT- Caching Server3 000 +VAT Telecom Equipment Set-Up (in case of a leased line) 1 200 +VAT- Exchange commission 0,01% but no more than UAH400

13. LINKS Web-site of the exchange: http://www.ux.com.ua Software download: ftp://ftp.ux.com.ua/pub/

14. CONTACTS Phones: +38 (044) 495-74-74 (Switchboard) +38 (044) 495-74-72 (Help Desk) Membership and Trading Access: Natalia Slobodchikova sales@ux.com.ua Help Desk: Alexander Sergeev help@ux.com.ua Trading and Settlement : Eugeny Komissarov trade@ux.com.ua