TransContainer to proceed with IPO

The Offering will be the first IPO of shares in a subsidiary of Russian Railways and is a key part of the ongoing Russian rail industry reform. The Russian Government approved the sale by Russian Railways of up to 4,863,170 shares representing 35% minus 2 shares in the Company on October 5, 2010 and the Russian Railways’ board approval of the Offering is expected later this week.

The Offering consists of a sale of existing shares in the form of ordinary shares and, provided that all necessary approvals are obtained, Global Depositary Receipts together with the shares are expected to be listed on the London Stock Exchange under the symbol TRCN.

J.P Morgan, Morgan Stanley, and Troika Dialog are joint global coordinators and joint bookrunners of the Offering and TKB Capital is a co-bookrunner of the Offering.