Belon Shares now listed on MICEX

Pursuant to the decision of the Board of Directors of ZAO MICEX Stock Exchange, the shares of the Company were included in the portfolio of non-listed stock. Therefore, 11.5 mln. uncertificated registered ordinary shares of OAO Belon (state registration issue number 1–05–10167-F as of August 31, 2005) were admitted to trading on the market.

Since June 2006, the securities of the Company have been floating in the Russian Trading System. By entering MICEX, the Company undertakes to meet the wishes of investors. Additional trading floor will enhance the capabilities of security holders in the field of stock-exchange dealing.