Consultants from Germany will help Freight One to develop their corporate development strategy. The primary objectives for the RZD subsidiary are to enhance corporate governance and to reduce operational dependence on the parent company. A tender to provide consulting services for Freight One has been announced by the European Bank for Reconstruction and Development, which had granted the RZD subsidiary a long-term credit facility of $130mio and is now considering a new loan worth $100mio. High quality corporate governance and reasonable operational independence from RZD are the key issues for successful entrance of the Company into the international capital markets. Consultancy work is expected to begin in January 2010 and will last four months. The consultants shall be German citizens or employees of consulting firms registered in Germany, as financing of such services is provided through the German Federal Ministry of Economy and Technology. (USD1 = RUB28.7007)

• Source: Russian Transport Daily Report