1. FINANCIAL RESULTS OF AEROFLOT, JSC ACCORDING TO THE RUSSIAN ACCOUNTING STANDARDS FOR 12 MONTHS OF 2005. KEY STATISTICS FOR 1Q 2006.

2. NONCURRENT LIABILITIES 463 2 767 2 304 497,6% CURRENT LIABILITIES 7 502 9 254 1 752 23,3% CAPITAL AND RESERVES 16 331 20 734 4 403 26,9% 01.01.2005 31.12.2005 Changes % FIXED ASSETS 7 387 7 643 256 3,4% CURRENT ASSETS 16 909 25 112 8 203 48,5% TOTAL ASSETS 24 296 32 755 8 459 34,8% TOTAL LIABILITIES 24 296 32 755 8 459 34,8% AND OWN CAPITAL BALANCE RUR million

3. N ET ASSETS ACCOUNTING 01.01.2005 г.01.01.2006 г. Аssets taken into account24 29632 755 Liabilities, taken into account7 95511 992 Value of the company’s net assets16 34120 763 RUR million

4. Parameters of financial stability Parameters Recommended values Year 2004 Year 2005 Debt to equity ratio 0,700 0,4870,578 Noncurrent assets to noncurrent liabilities ratio more or equal to 1 2,2122,717 Coverage ratio от 1,00 to 2,00 2,2572,722 Interim coverage ratio от 0,50 to 0,80 1,8032,349 Current ratio от 0,20 to 0,40 0,2320,345

5. Net operating 62 849 56 377 6 472 11,5% income Production cost (53 738) (46 496) 7 242 15,6% Gross profit 9 111 9 882 (771) (7,8%) Business expenses (3 523) (3 405) 118 3,5% Administrative expenses (2 298)(2 163) 135 6,3% Profit on ordinary 3 291 4 314 (1 023) (23,7%) activities Other net profits and losses 5 075 3 952 1 123 28,4% Pre-tax profit 8 366 8 266 100 1,2% Net profit 6 032 6 330 (298) (4,7%) 2005 2004 Changes % PROFIT AND LOSS ACCOUNT RUR million

6. Key operational statistics for year 2005 Number of passengers carried Amount of cargo and mail carried Revenue passenger kilometers Revenue tonne kilometers Passenger load factor Cargo load factor Unit 2005 2004 % on 2004 million people 6,7 6,9 (2,9) billion tkm 2,73 2,74 (0,3) thousand tonnes 145,6 146,7 (0,8) billion pkm 20,75 21,0 (1,2) % 69,1 69,0 0,1 % 58,0 58,2 (0,2)

7. E stimated percentage of aviation fuel and lubricants costs for the period of 2003 to 2005 (RUR million)

8. 2003 2004 2005 AVIATION FUEL AND 9 14213 31118 690 OIL & LUBRICANTS TOTAL EXPENSES45 41752 06359 558 EXPENSES EXCLUDING AVIATION FUEL AND OIL & LUBRICANTS COSTS36 27538 75240 869 % OF OIL AND LUBRICANTS COSTS TO TOTAL EXPENSES 20,1 25,6 31,4 EXPENSE GROWTH WITHOUT OIL AND LUBRICANTS COSTS (%) 6,8 5,5

9. Weighted average cost of fuel for the period from 2003 to 2005 2003 г.271.0 US$/tonne 2004 г.364.9 US$/tonne 2005 г.586.3 US$/tonne

10. NONCURRENT LIABILITIES 2 767 2 780 13 0,4% CURRENT LIABILITIES 9 254 7 349 1 905 (20,6%) CAPITAL AND RESERVES 20 733 21 097 364 1,8% 31.12.2005 31.03.2006 Changes % FIXED ASSETS 7 641 11 165 3 524 46,1% CURRENT ASSETS 25 112 20 062 (5 050) (20,1%) TOTAL ASSETS 32 754 31 226 (1 528) (4,7%) TOTAL LIABILITIES 32 754 31 226 (1 528) (4,7%) AND OWN CAPITAL BALANCE mln RUR

11. Net operating 13 117 11 085 2 032 18,3% income Production cost (12 032) (11 253) 779 6,9% Gross profit 1 086 (167) 1 253 750,3% Business expenses (589) (504) 85 16,9% Administrative expenses (546) (497) 49 9,8% Losses on ordinary (49) (1 169) (1 120) (95,8%) activities Other net profits and losses 626 146 480 328,7% Pre-tax profit 577 (1 024) 1 601 156,3% Net profit 399 (875) 1 274 (145,6%) 1 кв. 2006 1 кв. 2005 Changes % PROFIT AND LOSS ACCOUNT RUR million

12. Key operational statistics for 1Q 2006 Number of passengers carried Amount of cargo and mail carried Revenue passenger kilometers Revenue tonne kilometers Passenger load factor Cargo load factor UNIT1 Q 2006 1Q 2005% on 2005 млн. чел. 1,38 1,37 0,8 млрд. ткм. 0,59 0,60 (1,8) тыс. тонн 31,7 34,7 (8,4) млрд. пкм. 4,40 4,49 (1,9) % 66,4 65,1 1,3 % 56,0 55,7 0,3