Vedomosti, March 29, 2002

Moscow. The RosBusinessConsulting (RBC) company reported yesterday that the initial public offering (IPO) of its shares at Russian exchanges MICEX and RTS would take place in April 2002. The Aton investment company was chosen as the underwriter for the issue. Ernst & Young is RBC's legal consultant. RBC General Director Yury Rovensky said that an additional issue of shares to be placed would amount to 16%. The head of the Aton International Sales Department estimated that RBC's capitalization after the placement might reach $100m to $120m. RBC also reported the financial results of its operations last year. The total revenues reached $16.95m. Of this amount, revenues from information services and advertising reached $9.85m, and revenues from software development, offshore programming, system integration, and IT consulting amounted to $7.1m. RBC's net profit amounted to $6.3m in 2001, exceeding the corresponding figure for 2000 by 2.6 times. An audit by KPMG has confirmed RBC's financial records.