Information attachment to the Troiker magazine №2 | SEPTEMBER 2008

Troika announces Troika joins Germany’s Troika to evaluate Troika makes investors’ company rebranding EUREX exchange nanotechnology projects dreams come true

The brand surging The Brand Idea Life demands decisive action and true heroes! The world is into the future changing rapidly. It is getting The future belongs to those who see what changes lay ahead. We’ve got to seize the quite sophisticated and com- future, and make it ours. The future must go into the brand. plex. It is full of disparate in- formation and interdependent processes. On growing mar- Troika Dialog is ready for a new kets these processes go at a epoch. dizzying speed. This is the Our Troika Dialog brand has zone of elevated risk. Correct been reborn! The Troika Dialog decision-making here is a form team, now 17 years old, has built of art, based on knowledge, a successful business and a su- experience, and professiona- ccessful Brand. We became esta- lism. Here the ONES are need- blished, won the confidence of ed. The ones who will give the our clients, and gained recogni- right information and show tion as the most reliable and pro- the right direction. The ones fessional company on the Russian who are open. Honest. Reli - market. However, unless we keep able. The ones who are brave with the times, even our glorious enough to explore new avenu- past is no guarantee for the futu- es and find a solution to any re. Every day we see the world situation. Always new, to the around us changing. The time point, and where it is needed. has come for us to be decisive. They take responsibility and Only that way can we stay among lead through all the confusion, the market avant-garde. following the path to success. What for, why now? One must The real experts, knowing seize the right moment to change, each detail, setting trends on before the circumstances take the market. They are: over. Life itself told us to rebrand. The need to work on our brand Troika Dialog — arose out of many different chan- ges — changes in the company, the guiding changes on the market, and chan- hero. ges in the world. This decision was by no means spontaneous. We accept this responsibility to It involved months of painstaking guide, creating a bright future work and comprehensive analy- for others. We are leaders by sis— of Troika Dialog, our busi- ■ ■ Introducing Troika’s new image with a our nature; we will not play se- ness, our competitors, the market, bang, we hope to demonstrate our desire cond fiddle. We are the first to and the business situation across for change and our willingness to create act; the others follow. Faithful the world. We considered all the to our principles, we rely on pros and cons. We realized that and take charge nothing but our own strength, our old image fell short of our experience, and knowledge. new strategy, one that envisages should represent a shift in a com- with a bang, we hope to demon- We are guiding the market. Troika Dialog as a global player pany’s vision and strategic priori- strate our desire for change and in this complex, fast-changing ties. Troika Dialog has this vision. our willingness to create and take world. After all, a new logo Introducing Troika’s new image charge... p. 2

№2 | SEPTEMBER 2008 1 Troika’s news The Troika Dialog brand has been reborn!

continued The brand surging into WHAT DOES OUR LOGO the future REPRESENT?

■ We have changed the brand The Troika Dialog brand is alrea- positioned today? It is important Bright, dynamic, bold, decisi- without changing our stand. A dy considered one of the stron- to start off with the courage to ve. A unique design, unlike any brand reminds us of ourselves, gest, if not the strongest, on the face negative pressure, and to un- other. It has its own history — our traits, and our character. It stock market. It is difficult to derstand it. We understand. We Troika’s history. ■ reflects our aspirations and dre- break old habits, even scary for must be resolute and confident in A new, modern approach to ams. The brand is an expression some. Experience shows that only our plan, and look into the futu- visual brand identification. This is of our values — sensible and 5% of people are open to change; re, unshakable in our goals. the world’s first dynamic logo! long-lasting — which people be- the remaining majority prefers Become a Brand Ambassador! The time of simple, 2-dimensional lieve in and are truly significant. the status quo. The skeptics, usu- The brand expresses our self- forms is gradually sinking into the We have changed the brand wit- ally the majority, never embrace understanding and our philoso - past. Corporate communications hout changing our stand. Empha- radical changes. All of this is nor- phy. Bringing our new image to are switching over to virtual rea- sizing the core beliefs that we mal. It is helpful and instructive the surrounding world is a chal- lity. In virtual space, our logo is hold unshakable, we merely po- to consider the rebranding expe- lenge we will face every day — 3-dimensional. It is dynamic. It is inted out the vibrant sides of our riences at Vympelcom and Apple. inside Troika and away. We will constantly in movement. Just like character. All we did was adjust Both companies were showered only achieve success when we un- we are. The printed version is al- the mode of expression. with criticism from start to finish derstand our brand, follow our ways different too, even on your We are prepared to face resi- during their rebranding pro- philosophy and begin living by business card. stance. The announcement about grams. Now look at the situation the brand. We are Troika Dialog. ■ Troika’s Pattern shows con- rebranding might take the outsi- today. Raise your hand if you We are this brand. Each one of us necting lines, which are meant to de world by surprise. The first think either company failed. is an ambassador of the Troika represent the many different le- reaction is usually, «What for?» And how are these companies Dialog Brand. vels and poles of interactions, processes, and communications ■ ■ The most avant-garde between people in this fast-chan- ging world. In this world, Troika brand. Constantly moving. acts as the connecting link, fin- Just like we are ding appropriate solutions in complex interactions. ■ The color solution in RGB. This system of primary colors — red, green, and blue — is the basis of all color combinations in the tech- Troika Dialog — Master of nology sphere. The three colored triangles signify the solutions Brandbuilding that we offer our clients — be they clients of Investment Ban- Troika Dialog received the Mas- winning brand. According to Inna king & Global Markets (blue), Pri- ter of Brandbuilding Award Miloserdova, Marketing Director vate Banking clients (green), or 2008. An annual award, it is giv- at Troika Dialog, «It’s exciting Personal Investments clients (red). en out to 10 companies in recog- that our efforts to create and pro- ■ «Troika» and «Dialog». We are nition for outstanding achieve- mote our brand were recognized known by our clients and em- ments and excellence in brand- by the professional branbuilders, ployees as Troika. It is what pe- building. and by those who see strength in ople call us. It is our name. We The Master of Brandbuilding the Troika Dialog Brand. Our gave «Dialog» a special place — contest is a non-commercial pro- company, now on the market for a numerical exponent: Troika to gram, moderated by leading 17 years, has created a strong im- the Dialog. Russian and international brand- age and a solid reputation. How- ■ The logo as a work of art. It ing agencies. A judges’ panel ever, life goes on, and companies was inspired by the Russian comprised of business media ex- are living things — especially Avant-Garde, the movement re- perts selects the nominees for the Troika. We are ready for the next sting at the core of all modern award. Each member of the panel phase of development, and we art. The resemblance is no coinci- provides a list of 10–15 compa- The Master of Brandbuilding face some serious changes. Our dence. Troika, a permanent part nies that showed brand leader- award recognizes the profession- brand is one example. Troika Dia- of the market’s avante-garde, ship over the past year. The com- alism of the management team — log’s main advantage as a brand has always handled its business pany that receives the most votes or business proprietors — who is that we are open to new ideas as a form of high art. Everything is the winner. have created and developed the and have no fear of change.» we do is cutting-edge.

№2 | SEPTEMBER 2008 2 Troika’s news Graduates of top universities choose Troika

TROIKA DIALOG RECOG- NIZED AMONG THE TOP- Troika Dialog is One TEN FINANCIAL FIRMS IN RUSSIA FOR STABLE, DY- of the Three Most Appealing NAMIC GROWTH The Economic News Agency Employers for Young Specialists has ranked Russian banks and companies in terms of stable Troika Dialog joined the top-twenty employers for recent graduates, according to the and dynamic growth over the first-quarter of 2008. The re- TargeT’08 rating (TOP-20 Annual Rating of Graduate Employers). search took place over two phases. During the first phase, The company was acknowledged 50 companies were nominated among the top-three, together with in 6 separate categories. Dur- Gazprom and LUKOIL. ing the second phase, an ex- «Troika Dialog can be called a pert in the corresponding field selected the winners in each pioneer among investment banks category. The top-ten compa- for its work with young people. nies in each category, includ- Every year, we create the opportu- ing Troika Dialog, earned the nity for dozens of students and re- highest mark. The winners cent graduates to start their career were chosen according to the company’s development pace, at one of the leading investment authority on the Russian mar- companies in the CIS. Since 2001, ket, and development per- nearly 1000 people have attended spectives. our summer classes. This year as many as 36 candidates competed TROIKA DIALOG RAISES for each opening in our summer A SECOND SYNDICATED internship program. In 2006, the LOAN The loan was organized by internship program won the com- twelve of the largest internatio- pany the HR Brand of the Year nal banks. The initial sum, $100 Award, — said Emil Aliev, Talent million, was increased following and Succession Planning Mana- a 30% oversubscription, which ger. — I am glad to note that, ac- the sky is the limit for one’s career it clear where the young specialists led to the $130 million total. Troika previously secured anot- cording to the TargeT survey, yo- and professional growth.» would ideally like to start their ca- her large syndicated loan: the ung people hunting for jobs put The TargeT survey, conducted by reers. The second stage involves company first raised money on the opportunity to learn and grow Career Magazine and Graduate, feedback from the companies, who the fixed income market to fund before high salaries and other consists of two stages. Experts report the actual conditions and its development program in July 2007. This was the company’s compensation packages. In fact, interview senior students and gra- opportunities they have for young debut credit, totaling $180 mil- these are just the specialists our duates from Moscow and regional specialists. lion, also following an over- company needs, those seeking universities and receive feedback This is the fifth year of the TargeT subscription. Both the sum of professional growth, challenging concerning students’ expecta- survey (TOP-20 Annual Rating of the loans and the oversubscrip- work and unusual tasks, who are tions, their preferences, and their Graduate Employers). This time it tion indicate that Troika enjoys good credit among the major in- full of energy, and are eager to criteria for choosing a potential covered 700 students and gradua- ternational financial organiza- realize their potential. Since employer. tes from Moscow and regional tions. our company is growing so fast, The results of the first stage make universities. TROIKA’S TOP-MANAGERS NOW BOARD MEMBERS AT THE LEADING RUSSIAN NAUFOR once again Recognizes STATE COMPANIES. The Russian government puts Troika as Company of the Year leading businessmen on the Bo- ards of Directors of state compa- nies as independent directors, Troika Dialog has once again Company of the Year on four se- who will enhance the efficiency emerged as the winner in the an- parate occasions. Troika Dialog of state-owned assets manage- nual NAUFOR contest, the «Se- has received multiple NAUFOR ment. For example, Ruben Varda- curities Market Elite–2007», awards for achievements in the nian has joined the Board of Di- winning awards in three separate following: securities trading rectors at Sheremetyevo Interna- tional Airport, and Andrei Sharo- nominations: Company of the (Best Equity House, Best Tra- nov is now a Board Member at Year, Best Equity House, and ding Desk, and Best Trader in Russian Railways. Troika’s strate- Best Trading Desk. 2006, 2005 and 2003) and asset gy envisages its top managers as Troika Dialog has taken awards management (Best Asset Mana- Board Members at global growth companies so that their knowled- in this contest for the past seven gement Company in 2005 and ge and experience will help to years, being recognized as 2003). improve corporate governance and enable further growth.

№2 | SEPTEMBER 2008 3 10 M&A deals, totaling $12 billion Investment Banking & Global Markets 10 bond placements for 27 billion rubles

Troika is No. 1 Financial Advisor on the Russian M&A Market In the first half-year of 2008 Troika Dialog is ranked as the No.1 Financial Advisor in Russian M&A transactions (transactions with Russian targets) according to two top international league tables — Mergermarket and Thomson Financial.

Beginning this financial year, the Bashkirenergo, TGC-10, TGC-9 handled the merger of NK Allian- company has completed 10 M&A and Volzhskaya TGC. Troika ac- ce and West Siberian Resources, deals, totaling around $12 billion. ted as an alliance coordinator and the sale of Musa Motors to Incha- In particular, Troika Dialog acted financial adviser to AVTOVAZ in pe, the acquisition of Parliament as financial adviser to RAO UES in the company’s strategic partners- Group by CEDC and the sale of the sale of large equity stakes in hip with Renault SAS; Troika also Inmarko Holding to Unilever. TROIKA’S NEW OFFICE IN NEW YORK Troika Dialog’s New York Office has moved to a new, modern, and spacious location, which was Position of Troika Dialog on the leading Russian trading floors inaugurated July 1. Our colleagues (3Q 2008) at Troika Dialog U.S.A. will now work in the Carnegie Tower, loca- ted in a prestigious part of town. Exchanges Rating Market share, % Troika’s top managers, as well as RTS Classic Market 1 48.0% Russian and American clients, at- RTS T+0 Market 3 17.2% tended the event to congratulate our colleagues. We hope that RTS FORTS main 6 14.1% both staff and clients will feel RTS FORTS options 5 12.8% comfortable and confident in the RTS Board 1 43.3% new office. MICEX equity main session 3 17.8% CONQUERING THE MICEX fixed income main session 1 23.3% UKRAINE STOCK MARKET MICEX equity NDM 3 16.0% Troika Dialog Ukraine placed se- MICEX fixed income NDM 1 21.0% cond in terms of transaction volu- MICEX equity REPO 2 21.7% mes during June, according to a rating of the PFTS Stock Exchan- MICEX fixed income REPO 1 23.7% ge. The company concluded 700 Source: Official reporting from exchanges deals, totaling 85 million UAH. We are actively involved in the secondary bond market. During three quarters of 2008, the turno- ver in bonds transactions and Equity Placements № 1 on the Troika Joins REPO exceeded $1 billion, and the Secondary Fixed German Eurex number of the company’s clients Despite the market situation this and counterparties grew to 60. year, which has not been favo- Income Market Stock Exchange We were among the five largest rable to equity capital markets Troika Dialog has again proved its Deutsche Boerse AG, a German underwriters on the Ukrainian market for the first half-year of transactions, our Investment leadership on the ruble bond mar- market operator, has included 2008. Troika organized bond pla- Banking Division still carried ket. For the second year in a row, Troika Dialog in Eurex, the com- cements for three large corpora- through three placements. Troi- Securities Market Magazine has pany’s derivatives trading plat- tions: Agroholding Avanguard, ka acted as the joint global co- confirmed Troika’s leadership on form. Troika is the third Russian Ukrtelekom and DTEK, deals that ordinator and book-runner du- the ruble bond market. Since the broker to receive membership on totaled 950 mln UAH. ring the IPO of TGC-7 and the start of 2008, the company has or- the German exchange. Eurex, the BUSINESS IN LONDON SPO of EOS Russia on the Stoc- ganized 10 bonded issues, totaling largest exchange platform for de- GROWING FAST kholm Stock Exchange, as well as 27.6 billion rubles, or 13% of the rivative products, has a capitali - Troika’s London Office has shown overseeing the private placement current market. Specifically, Troi- zation exceeding $23.5 bln, 400% growth since opening in of a 15% share block in Trans- ka organized the placement by good for second-place worldwide 2003. The office currently em- Container, a subsidiary of Russi- RZhD of 20 bln rubles, a place- (the NYSE Euronext is first). Fol- ploys 21 individuals. According to an Railways. ment by Mobile TeleSystems of 10 lowing its third agreement with Howard Snell, Troika Dialog UK Director, investors now consider bln rubles, and one by Vimpel- a Russian broker, Eurex will now Russia one of the more compel- Com of 10 bln rubles. focus on attracting Russian issuers. ling emerging markets. We hope to provide even more opportuni- ties for our clients in the UK, and to help them benefit from econo- mic growth in Russia and the CIS. Our London colleagues recently moved to a new, spacious office at 85 Fleet Street.

№2 | SEPTEMBER 2008 4 250 billion rubles overall under management Private Banking 24 billion rubles in mutual funds

TROIKA DIALOG Troika Dialog Announces KAZAKHSTAN — NEW OPPORTUNITIES a New Investment Fund for Almeks Asset Management, a company that Troika acquired, has been renamed Troika Dialog Japanese Investors Kazakhstan. The company is con- Troika Dialog Asset Management and Shinsei, Japan’s leading bank, have tinuing to put together its team. offered Japanese investors the Troika Shinsei Russia Fund. As of today, Troika’s business structure in Kazakhstan is basical- The fund’s investment portfolio ments, the majority tend to invest Asia, especially with regards to ly complete. The initial placement will include equities from both in their native economy. Now our Russia New Growth Fund, of shares in the open-ended mu- tual fund Troika Dialog — Balan- Russian companies and compani- they have the chance to invest in a private equity fund that we cre - ced began in August. The fund al- es who do business in Russia. The the Russian market as well. Ac- ated in partnership with Tema- lows investors to make a profit fund invests in a well-diversified cording to Pavel Teplukhin, «De- sek,the investment holding from on securities in Kazakhstan’s lea- portfolio, which includes Russian veloping ties with countries in Singapore. We hope that this ding issuers. issuers’ securities with high liqui- Asia is a major strategic priority new project, which we are run- dity and good growth prospects. at Troika Dialog. In the past we ningin partnership with the Japa- TROIKA DIALOG Although the Japanese are active have successfully collaborated nese Bank Shinsei, will be no less UKRAINE LICENSED investors in stock market instru- with investors from South-East successful». FOR OPERATIONS IN ASSET MANAGEMENT In May 2008, Troika Dialog Ukrai- ne received a license for opera- tions in the area of trust manage- Troika will Assess Troika Dialog Deve- Dobrynia Nikitich, ment in Ukraine. The license en- titles the company to render trust Projects in the Area lops the Russian Aggressive management services to both of Nanotechnologies Power Sector and Secure private and institutional inve- stors. Troika Dialog Ukraine plans Pavel Teplukhin was placed in char- Troika Dialog invites its Private Troika Dialog has launched pro- to raise the sum of assets under ge of the Investment Policy Com- Banking clients to participate in ducts which both offer capital pro- its management to $100 million by the end of 2008. mittee at the Supervisory Council of the separation of RAO UES tection and participate in the Dob- the ROSNANO Corporation. The Russia equities over a basket rynia Nikitich Mutual Fund index. TROIKA DIALOG UKRAINE Committee evaluates the investment of 23 power companies. This me- The capital protected portfolio LAUNCHES ITS FIRST prospects for various nanotechnolo- ans that the Energy sector stra- provides the investor with the po- MUTUAL FUND gy projects. In March Troika AM tegy, which has been successful tentially high profitability of the Troika Dialog has launched its won a closed tender for the manage- for quite some time, has been ex- Dobrynia index, as well as the ca- first mutual fund in Ukraine. The ment of temporarily idle resources panded. As a result, the project’s pital protection inherent to depo- resources of the new Troika Dia- belonging to ROSNANO, which de- total investment in RAO UES sits. The investor can thus benefit log Ukraine — Balanced fund are als with the implementation of state equities has surpassed $150 from stock market growth while going to be invested in the secu- policy in nanotechnologies. million. also reducing possible losses. rities of Ukrainian issuers in the metallurgical, power, industrial and financial sectors. Many Ukrai- nian investors have already shown interest in the fund, and Troika has raised Commercial Real Troika Raises we hope that it will take a lea- ding position on Ukraine’s collec- more than $1 billion Estate Reaches the Worthy Heirs to tive investment market. for the CDO project Urals and Siberia Worthy Parents PRIVATE BANKING Troika has successfully comple- The Closed-ended Commercial The School for Heirs is Troika SERVICE IS NOW EXTEN- ted a deal to form and sell a third Real Estate mutual investment fund Dialog’s unique educational DED TO OUR UKRAINIAN ruble CDO for a portfolio of Rus- completed two major deals. It ac- project. Its objective is to edu- CLIENTS sian issuers’ bonds placed among quired an A-class business center in cate future heirs in the funda- This spring, Troika Dialog Ukraine offered its private banking servi- market investors. This is a CDO Perm and a large shopping center mentals of trust management, ce to investors. Now Troika Dia- for a three-year term which totals in Novosibirsk. The Urals and Si- and to provide examples of suc- log offers Ukrainian investors the 10 billion rubles for a diversified beria are promising investment re- cessful entrepreneurship. The full range of our products, and, portfolio of corporate ruble gions, and we hope that this purc- students are the children (18 to furthermore, we are opening bonds, with three tranches. This hase will lead to even more activity 23 years old) of Private Banking new opportunities that cater to is the third CDO formed within there. In the past year, the fund has clients, and the teachers are the local market. The company less than one year. The first grown two-fold, and the number of Troika’s leading managers, as recently completed a major one- time deal for structured notes CDO, which totaled 8.95 billion investors has exceeded 1,300. The well as leading business figures. for $15.5 mln. The company rubles, was formed in August fund has a 15% annual return, and In August, the school gathered now offers its private banking 2007. The second, 5 billion rub- its MICEX Stock Exchange turno- its first group of students for clients individualized investment les, was formed in January 2008. ver totals $21 million. Summer Classes. strategies.

№2 | SEPTEMBER 2008 5 Troika Capital Partners is forming a new private equity fund Private Equity of $1 billion

TROIKA CAPITAL KAMAZ and Daimler will PARTNERS FORMS A NEW PRIVATE EQUITY FUND Become Partners In April 2008, Troika Capital Part- Daimler Trucks Examining Possibility of Acquiring a Stake in Russian Truck Maker KAMAZ ners started a new private equity fund, which totals $1 billion. The Daimler became the exclusive ne- Shortly after that Daimler started first phase of the fund’s creation gotiating partner of Troika Dialog a due diligence in order to evalua- in talks to acquire 42% of the sha- te all relevant factors for possible was recently completed. If all res in KAMAZ. Negotiations with company participation. In the best goes as planned, the second pha- the investment company Troika case scenario, the parties will close se will be finished by October, Dialog, which would like to sell the deal before the year ends. and the third phase will be com- 42% of the shares in KAMAZ, had That would enable the two compa- pleted by January. That way, the started in the second quarter of nies to combine their development, fund can be announced as fully 2008, following a bidding process production, and sales expertise. closed at the Russia Forum 2009. with diverse Western OEMs. Da- Daimler would bring in the tech- a lot in Russia: production facili - The fund will make investments imler was chosen as the exclusive nological know-how of the global ties, sales structures, and a good in the consumer sector. negotiating partner. industry leader, while KAMAZ has network. RUSSIA NEW GROWTH FUND EXPANDS ITS INVESTMENT PORTFOLIO Investor Day for Investors Two private equity funds, the Russia New Growth Fund (mana- in Russia New Growth Fund ged by Troika Capital Partners) Troika Capital Partners conducted an annual meeting of investors of private equity funds, and the Eagle Russia Fund (mana- representatives of leading financial institutions, business leaders, and renowned experts ged by Eagle Venture Partners), in the industry of finance. together invested $18 million in the equity capital of the “Protein. This is the second straight year In Moscow, the investors heard Technologies. Ingredients” group, for Investor Day, which recognizes about the Fund’s performance this investors in the Russia New year, and in Kazan they visited the one of the largest manufacturers Growth Fund. This year the event regional offices of the Fund’s port- and distributors of food ingredi- took place in three cities at once. folio companies, and met with ents in Russia and the CIS. The in- Investor Day opened May 31 in two Tatarstan officials: Prime Mi- vestments will be used to reduce Vilnius with the World Equestrian nister Rustam Minnikhanov and the group’s dependence on im- Championship, and continued Marat Safiullin, Minister of the ports, and to strengthen its lea- June 2–3 in Moscow and Kazan. Economy. dership on the market.

TROIKA INVESTS IN INNO- New Horizons for Troika is Preparing Troika Dialog VATIVE IT PROJECTS In May 2008, Troika Dialog repor- AVTOVAZ a New Insurance Offers Winning ted the work of its managers Three of Troika Dialog’s top man- Project Bid for Samara - from the Regional Venture Fund agers joined the AVTOVAZ Board Troika plans on an additional share energo Share for Investments in Small Enterpri- of Directors: Ruben Vardanian, placement by Zhaso Insurance. Block ses in Tatarstan’s Science and Sergei Skvortsov and Richard Og- «This is a strategic purchase for us, Technology Sphere. Troika’s ma- don. We hope that Troika’s pres- the same as acquiring stakes in ot- Troika Dialog gave the winning nagers analyzed 100 of the Re- ence within AVTOVAZ will lead to her companies that we have bought bid in a public auction for a share public’s projects, which were nar- new investments in the latter, as within our private equity program», block in the Samaraenergo Com- rowed down to five potential in- well as a productive partnership says Vardanian, who joined the pany, belonging to RAO UES of vestment targets. As of today, a with Renault. Recently, with help Zhaso Board of Directors in March. Russia. When we help companies 15% share of the fund’s net as- from Troika’s managers, AVTO- A tender is currently underway to like this achieve considerable sets has been invested in two in- VAZ finished restructuring its find a consultant who will work out growth and major capitalization novative projects. Eleven percent shareholders’ equity, and did away a detailed strategy for the insurer. boosts, we secure future income were invested in the iiko Compa- with cross ownership. AVTOVAZ Troika has considerable experience when these companies are sold. and Renault signed a strategic in the insurance industry, including Russia’s power sector is one of ny, the startup of David Jan, fo- partnership in February, whereby cooperation with Rosgosstrakh and Troika Dialog’s strategic areas of under of the ABBYY Group. The the Renault Concern bought a the Regional Alliance project. Troi- business. Troika is a leading con- iiko Company is now developing 25%+1 stake in Volga Autoworks ka also pioneered investment life sultant for major deals in this in- automated systems for hotels from the Troika Dialog Group. insurance in Russia. dustry. and restaurants.

№2 | SEPTEMBER 2008 6 Operations are underway at Troika’s new offices in Irkutsk, Personal Investments Saratov, Khabarovsk, Yaroslavl, and Voronezh

TROIKA DIALOG The Retail Network Renamed EXPANDS ITS AGENT- BANK NETWORK Personal Investments Troika’s strategy is to expand not only its own client service ne- In April 2008, the merger between Troika’s affiliates and the company’s 3D offices was completed, twork, but also to expand and leading to the National Retail Network. develop its agent-bank network. Troika, seeking agent contracts with the leading Russian and in- The National Retail Network re- (insurance, financial planning, etc.). ternational banks, hopes to at- cently received a new name, Per- Under the new merger, Moscow’s tract the maximum amount of cli- sonal Investments and Finances. Private Clients Division, which ents and assets. This year, six The new name serves two purpo- previously operated within the Ca- banks have agreed to agent ses: first, it better expresses the pital Markets Department, is now agreements, including major We- department’s structure. Second, based out of the Krasnaya Presnya stern banks (Unicredit, Raiffeisen it identifies the department’s main office, which, with the new addi- and HSBC), Russia’s EXPOBANK target group, Troika’s private cli- tions, now employs a total of more (recently purchased by the Barc- ents. The addition of the word «fi- than one hundred consultants, More than 100 consultants lays Group) and Sberbank, Rus- nances» is no coincidence, since who offer Troika’s private clients now work at the Krasnaya sia’s largest retail bank. As a re- Presnya office we now offer not just investment the full range of the company’s sult, Troika’s agent network is services, but also financial services services. the largest in the country today, totaling 533 bank branches.

BRANCHING OUT INTO NEW REGIONS Troika Makes Dreams Come True Troika Dialog continues expand- Troika’s recent creative competition, called Troika Makes Dreams Come True, ing in Russia’s key regions and was held in Moscow July 1 through August 31, 2008. opening new sales offices in Moscow. Since the beginning of The event was held for the com- will now be fulfilled. The compe- the year, the company has pany’s mutual fund clients, who tition winners were announced opened offices in Irkutsk, Saratov, were asked to describe their che- on July 25, August 14 and Sep- Khabarovsk, and Yaroslavl. Two rished dream on a questionnaire tember 5 at www.troikadreams.ru new Moscow offices have at one of Troika Dialog’s Mos- and at Troika Dialog’s sales opened as well, which are locat- cow sales offices. The jury, which offices. The jury chose the most ed at 7 Marshal Biryuzov Str. and included Lyudmila Ulitskaya, ingenious, bold and creative 8 Dmitry Donskoy Boulevard. Vladimir Spivakov, Choulpan dreams, including a trip to the Khamatova, Andris Liepa and Arctic, publication of a family TOTAL SMS COVERAGE Gosha Koutsenko, identified history, and a trip to a major Investors in Troika Dialog AM’s nine winners, whose dreams economic forum. mutual funds can now receive in- formation about their account balance and share operations by e-mail and SMS. This service is available to clients who have A Shining Yellow Porsche already opened a mutual fund account. Awaiting the Winner MUTUAL FUND WITH «Join Troika — Take the Lead!» is the name of this year’s employee incentive program PRIVILEGES in Personal Investments. Troika Dialog has introduced a new convenience for its clients: The goal of the program is to en- latory certificates. The main prize investors in open-ended mutual courage outstanding results from of the year in the individual cate- funds can now receive regular financial and investment consul- gory is a Porsche Boxter. The pre- payouts through multiple amorti- tants, whose work is evaluated stigious car is already parked at zation payments for shares in any within seven categories every the entrance to the Krasnaya Pres- fund, without ever having to visit quarter. Winners in the Best Team nya office, causing envy toward its a sales office. The clients can de- and Best Unit nominations will be future owner. This owner, the termine on their own the number presented with the chance to orga- consultant who shows the best re- and volume of the payments. nize an entertainment or recrea- sults over seven categories for the The main prize for the 2008 Meanwhile, the money they have tional event. The winners of quar- entire fiscal year, will be anno- Best Consultant invested in the fund will continue terly nominations and the indivi- unced soon, at the annual meeting to grow through the appreciation dual category are given congratu- in November. of the remaining shares.

№2 | SEPTEMBER 2008 7 The year-end issue of the Troiker magazine will be released Troika’s internal news for Troika’s Annual Meeting, November 14

CRM SINGLE VIEW Troika Dialog Introduces Murex, OF THE CLIENT PROJECT CRM announces the successful a New, Modern Trading System completion of the Planning and Scoping stage, and would like to Troika is replacing its current trading platform with Murex, a more contemporary system. thank everybody who took part. During this phase we chose a Russia’s financial market contin- of such a high, professional level. consulting partner, identified pro- ues to develop intensively. In or- The Murex Company is the world ject sponsors, confirmed the next der to keep up, new, modern leader in investment software stages, formed a project team, technologies are required, espe- supplies. We hope that the new conducted interviews with Mana- cially for trading operations. The system will help to consolidate gement members, business re- Murex system is meant to support our trading leadership, and bring presentatives and support de- our increasing sales and competi- it up to global standards. You can partments, and held «change tive ability with new financial in- read about this project in greater champions» seminars. Active struments. This is the first project detail in the next issue of Troiker preparations have started in the IB&GM Department for the next in Russia to introduce a platform magazine. stage, Building up a Client-Orien- ted Model in the Corporate and Institutional Clients Segment.

TROIKA GETS NEW The Summer 2008 Internship EXTERNAL PHONE LINE WITH VOICE IDENTIFI - Program: Unprecedented Numbers CATION Troika Dialog annually sponsors a two-month internship program (July-August) with the aim In early September, Troika of enrolling talented students who are prepared and have the ability to learn fast and acquired the phone number actively take on the expertise of their more experienced colleagues. +7 495 258 05 01, which is equip- ped with a voice identification Troika’s summer internship is in- Around 900 candidates participa- Troika has long won a reputation system. Every call to this number credibly popular: whereas the ted in total. as a company that nurtures the ta- will be greeted by an electronic number of applications used to be The Summer Classes, held in Mos- lents of outstanding professionals secretary. If the caller does not around two thousand, this year the cow and Kiev, were attended by in the world of finance. Bearing in know what extension he or she number exceeded three thousand. 180 students; thirty students parti- mind the ever increasing shortage needs, the system will recognize This summer’s interns, who took cipated in the Personal Investments of qualified specialists on the mar- the name or surname of the in- tended recipient, and will connect a summer training course before Division introductory program. In ket, we believe that the most effi- the call automatically. On corpora- joining Troika, were screened by the end, internships were offered to cient strategy at the present time te cell phones, you can dial 0501 18 recruitment groups in Moscow, 108 students, who then worked at is raising these specialists inside and say out loud the name or sur- and another 17 in the regions. Troika from July 1 to August 31. the company. name of the staff member you are calling. The purpose of the new number is to limit the num- ber of in-house calls to Troika’s main client line, +7 495 258 05 00. The calls to +7 495 258 05 00 are still connected at the Contact Center, whose specialists receive upwards of 2,000 calls a day.

DON’T WORRY, BE HIPPIE On July 19, all of Troika gathered for the company’s summer outing, which took place on the Istra Peninsula, the home of freedom rockers and real hippies. The idea behind the 2008 outing, the Wood- stock festival, included active recreation and meditation, a com- petition for the best hippy costu- me, and many other types of enter- tainment. The evening culminated with the «Best hippy song» con- test, including songs peformed by Troika employees. The contest was won by Banditos-Brokerito, who received the main prize and a trip to Ibiza.

№2 | SEPTEMBER 2008 8