Vedomosti (Moscow), January 16, 2004

Real treat for stockholders.

No Russian blue chips brought losses this year. Stocks of regional energy grids were unrivaled: many of them have more than doubled their value, and Dalenergo proved to be the best performer with a 260-percent gain per preferred stock. Over the course of the year prices for Norilsk Nickel and RBC stocks increased by about 200 percent.