According to Stanislav Vartanyan, FESCO Director for corporate communications, "admission of FESCO shares for trading at MICEX means additional convenience for investors by offering a wider choice of available marketplace and clearing and settlement systems. For the company itself the possibility to trade our shares at both Russian largest exchanges creates solid prerequisites for increased liquidity. In the future, FESCO may also explore the possibility of launching the full listing at MICEX".

As of August 4, 2008 the total number of FESCO shares outstanding is 2,951,250,000 common shares (tickers FESH/FESHG for both RTS and MICEX), listed on RTS Stock Exchange, Level "B"

This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the United States Securities Act of 1933 or an exemption from registration thereunder. No public offering of securities has been or will be made in the United States and, accordingly, no securities will be registered under the United States Securities Act of 1933. This announcement is being issued pursuant to Rule 135e of the United States Securities Act of 1933.

This announcement contains "forward-looking statements,„ which are not historical facts and can often be identified by the use of terms like “may,„ “will,„ “should,„ “expect,„ “anticipate,„ “project,„ “estimate,„ “intend,„ “continue,„ “target,„ or “believe" or the negatives of these terms. All forward-looking statements, including discussions of strategy, plans, objectives, goals and future events or performance, involve risks and uncertainties, some of which are beyond FESCO’s control, which may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. FESCO does not undertake any obligation to update any forward-looking statements.