Moscow Exchange Announces Intention to Float on its Own Platform

       Moscow Exchange Announces Intention to Float on its Own Platform

  PR Newswire

  MOSCOW, January 21, 2013

MOSCOW, January 21, 2013 /PRNewswire/ --

OJSC Moscow Exchange MICEX-RTS

Announcement of Intention to Float

NOT FOR RELEASE OR DISTRIBUTION OR PUBLICATION IN WHOLE OR IN PART IN OR INTO
THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

These materials are not for distribution, directly or indirectly, in or into
the United States of America, including its territories and possessions, any
State of the United States and the District of Columbia (the "United States").
These materials do not constitute or form a part of any offer or solicitation
to purchase or subscribe for securities in the United States. The securities
mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the "Securities Act").

The securities mentioned herein may not be offered or sold in the United
States (as such term is defined in Regulation S under the Securities Act)
except pursuant to an exemption from, or a transaction not subject to, the
registration requirements of the Securities Act. There will be no public offer
of securities in the United States.

Information contained herein is not an offer, or an invitation to make offers,
sell, purchase, exchange or transfer any securities in Russia or to or for the
benefit of any Russian person or any person in Russia, and does not constitute
an advertisement of any securities in Russia.

OJSC Moscow Exchange MICEX-RTS ("Moscow Exchange" or the "Company") announces
its intention to proceed with an initial public offering (the "Offering") of
ordinary shares (the " Shares") with a view to being listed on Moscow
Exchange's own trading platform, CJSC MICEX Stock Exchange.

Key Highlights

  *Leading provider of trading and post-trading infrastructure in the CIS
    region, operating the largest exchange in Russia for equities, bonds,
    foreign exchange, derivatives, and money market trading as well as
    providing clearing, settlement and depositary services across the full
    range of traded instruments.
  *At December 31 2012, 694 issuers admitted to trading on the securities
    exchange, including some of Russia's largest companies by market
    capitalisation such as LUKOIL, Rosneft, Sberbank, VTB and Gazprom.
  *Diversified and resilient business model with a track record of strong
    revenue growth and profitability through the economic cycle.
  *Unique global position with a strong presence across all major asset
    classes. One of the few global exchanges ranked in the top 20 for trading
    across equities (#18), bonds (#10) and derivatives (#9 by contracts) in
    the six months ended 30 June 2012 ^[1] .The exchange also generates
    significant operating income from FX operations.
  *Significant growth opportunity supported by strength of the Russian
    economy, ongoing upgrades to the domestic financial market infrastructure,
    and government programmes to support the local capital markets
    development, including the extensive privatisation programme.
  *Strong financial results generating consolidated operating income of
    RUB15.9bn for the first nine months of 2012 and an adjusted EBITDA margin
    of c.66% and net income of RUB6.4bn. The Company has an established track
    record of growth, with consolidated operating income showing a compound
    annual growth rate of 23% from 2009 to 2011 (reflecting the RTS Group
    results starting on 29 June 2011).

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1. Source: World Federation of Exchanges (WFE).

Details of the Offering

  *The Offering comprises

(a) an offering of Shares in the Russian Federation to institutional and
retail investors and;

(b) an institutional offering of Shares outside the Russian Federation and the
United States to certain persons, in "offshore transactions" as defined in,
and in reliance on Regulation S of the US Securities Act of 1933, as amended
(the "Securities Act");

(c) and an Offering of Shares within the United States to qualified
institutional buyers as defined in, and in reliance on, Rule 144A of the
Securities Act or pursuant to another exemption from the registration
requirements of the Securities Act.

  *The Shares will be offered by one or both of the Company's wholly-owned
    subsidiaries, MICEX (CYPRUS) LIMITED and Limited Liability Company
    "MICEX-Finance". All current shareholders of the Company other than the
    Central Bank of Russia will be provided an opportunity to participate in
    the Offering as sellers through MICEX (CYPRUS) LIMITED.
  *The Company expects its Shares to be admitted to trading on the "V"
    quotation list of CJSC MICEX Stock Exchange prior to the closing of the
    Offering.

Credit Suisse, J.P. Morgan, Sberbank CIB and VTB Capital are acting as joint
global coordinators and joint bookrunners of the Offering. Deutsche Bank,
Goldman Sachs International, Morgan Stanley, Renaissance Capital and UBS
Investment Bank are acting as joint bookrunners.

Sergei Shvetsov, Chairman of the Moscow Exchange Supervisory Board and Deputy
Chairman of the Central Bank of Russia, commenting on today's announcement,
said:

"After several years of preparation, we are delighted to be announcing our
intention to bring Moscow Exchange to the public market. The Exchange's own
listing is a key element of our strategy to promote the development of the
local capital markets as well as to broaden the regional and international
appeal of Moscow as a financial centre. As a public company, Moscow Exchange
will be committed to demonstrating leadership in corporate governance
practices and transparency."

Alexander Afanasiev, Chief Executive Officer of Moscow Exchange, said:

"Today's announcement of our intention to float shares of the Moscow Exchange
marks a crucial step on our path to greater transparency and openness as a
company, as well as bringing governance fully in line with best international
practices. We are confident that this will become a key factor in
strengthening Moscow's position as an international financial centre and make
Russia's financial market more attractive for both Russian and international
investors."

NOTES TO EDITORS

About the Moscow Exchange

OJSC Moscow Exchange MICEX-RTS operates Russia's largest public trading
markets for equity, bonds, derivatives, foreign exchange and money market
products as well as Russia's Central Securities Depository (CSD) and the
country's largest clearing and settlement systems. It also provides
information services relating to the Russian securities market as well as
software solutions and other technology services to its members. In the nine
months ended 30 September 2012, it ranked among the world's top-20 exchanges
for equity trading by market capitalisation and the top-ten exchanges for bond
trading by trading volume (by value) and for exchange-traded derivatives by
number of contracts traded. Moscow Exchange has 694 companies listed on its
securities exchange, as at 31 December 2012, including many of Russia's
largest companies.

The Moscow Exchange was formed in December 2011 as a result of a merger
between Russia's two main exchange groups. The merger brought together MICEX
Group, the oldest domestic exchange and operator of the leading securities,
foreign exchange and money market platform in Russia, and the RTS Group, at
the time the operator of Russia's leading derivatives market. This combination
created a vertically integrated public trading market across all major asset
classes. Following the merger the Company became an open joint stock company
(OJSC) and was named Moscow Exchange.

Disclaimers

Some of the information in these materials may contain projections or other
forward-looking statements regarding future events or the future financial
performance of the Company. You can identify forward looking statements by
terms such as "expect", "believe", "anticipate", "estimate", "intend", "wiII",
"could," "may" or "might" the negative of such terms or other similar
expressions. The Company wishes to caution you that these statements are only
predictions and that actual events or results may differ materially. The
Company does not intend to update these statements to reflect events and
circumstances occurring after the date hereof or to reflect the occurrence of
unanticipated events. Many factors could cause the actual results to differ
materially from those contained in projections or forward-looking statements
of the Company, including, among others, general economic conditions, the
competitive environment, risks associated with operating in the Russian
Federation, rapid technological and market change in the industries the
Company operates in, as well as many other risks specifically related to the
Company and its operations.

Neither these materials nor any copy of it may be taken or transmitted into
the United States, Australia, Canada or Japan. These materials do not
constitute or form part of any offer or invitation to sell, or any
solicitation of any offer to purchase nor shall it (or any part of it) or the
fact of its distribution, form the basis of, or be relied on in connection
with, any contract therefore. The offer and the distribution of these
materials and other information in connection with the listing and offer in
certain jurisdictions may be restricted by law and persons into whose
possession any document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities
laws of any such jurisdiction.

These materials are not for distribution in or into the United States (as such
term is defined in Regulation S under the U.S. Securities Act of 1933, as
amended (the "Securities Act")), and do not constitute or form a part of any
offer or solicitation to purchase or subscribe for any securities in the
United States. The securities mentioned herein have not been, and will not be,
registered under the Securities Act. The securities mentioned herein may not
be offered or sold in the United States except pursuant to an exemption, or a
transaction not subject, to the registration requirements of the Securities
Act of 1933. The Company has not registered and does not intend to register
any portion of any offering in the United States or to conduct a public
offering of any securities in the United States.

This communication is directed only at (i) persons who are outside the United
Kingdom or (ii) persons who have professional experience in matters relating
to investments falling within ArticIe 19(1) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high
net worth entities, and other persons to whom it may lawfully be communicated,
falling within Article 49(2) of the Order (all such persons together being
referred to as "relevant persons"). Any investment activity to which this
communication relates will only be available to and will only be engaged with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.

This communication is distributed in any member state of the European Economic
Area which applies Directive 2000/71/EC (this Directive together with any
implementing measures in any member state, the "Prospectus Directive") only to
those persons who are investment professionals for the purposes of the
Prospectus Directive in such member state, and such other persons as this
document may be addressed on legal grounds, and no person that is not a
relevant person may act or rely on this document or any of its contents.

ENQUIRIES

Moscow  Exchange Nikita Bekasov +7-495-363-3232 Moscow FrontierQuinn Martin
+7-495-797-3790 London Brunswick GroupAndrew Garfield/ Justine McIlroy/
Natalia Dyett +44(0)20-7404-5959
 
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