Ministry of Finance of the Russian Federation
Ministry of Finance of the Russian Federation
03.11.2006

PRESS RELEASE RUSSIA EXTENDS DEADLINE TO SUBMIT CLAIMS IN FTO EXCHANGE OFFER

 

RUSSIA EXTENDS DEADLINE TO SUBMIT CLAIMS IN FTO EXCHANGE OFFER

Moscow. 3 November 2006 - The Ministry of Finance of the Russian Federation, acting on behalf of the Russian Federation, announced today the final extension of its offer to exchange Russian Federation Eurobonds due 2010 and 2030 for eligible trade indebtedness of the former USSR (FTO debt). The FTO exchange offer, which was previously scheduled to expire at 5:00 p.m., London time, on 3 November 2006, will now expire at 5:00 p.m., London time, on 10 November 2006. The settlement date for the exchange is expected to be 28 November 2006.

This extension is intended principally to accommodate the needs of creditors who have only recently received confirmation of the eligibility of their claims. In order to facilitate the processing of letters of transmittal, all holders of eligible FTO claims are encouraged to submit their letters of transmittal as soon as possible.

Questions regarding the exchange offer should be directed to Citibank, N.A.,

the Exchange Agent for the offer, at:

Citibank, N.A.

Citigroup Centre

Canary Wharf

London E14 5LB

England

Tel. No. ++44 20 7508 3867

Fax No. ++44 20 7508 3866

NOT FOR RELEASE IN THE UNITED STATES. These materials are not an offer for sale of the securities in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended. The Russian Federation has not registered, and does not intend to register, the securities in the United States or to conduct a public offering of securities in the United States.