| Description of the mutual fund If the word ‘risk’ is not part of your vocabulary, we advise you to take a careful look at open-ended mutual bond fund Finam Bonds (Trust Management Rules were registered with the Russian Federal Securities Service under entry #0314-75340593, amendments and additions were registered with the Federal Securities Service under entry #0314-75340593 on March 3, 3006). Why are bond funds the safest? These funds invest cash in reliable financial instruments such as securities of the government of the Russian Federation and municipal bonds, and also corporate bonds of Russian companies. This fund is the most conservative among all the investment funds which are managed by Management Company Finam Management LLC. Its primary target is to preserve depositors’ cash from inflation and generate stable returns. Open-Ended Mutual Bond Fund Finam Bond Type: open-ended Formation period: from February 14, 2005 to April 1, 2005 Purpose: long-term investments in securities Minimum investment amount: Rub 20,000 ($714.28), with subsequent installments of Rub 1,000 ($35.71) and more Investment targets: the fund primarily invests sharers’ cash in governmental, municipal and corporate bonds, and also in cash assets. The fund pursues a conservative strategy that aims to generate stable returns higher than bank deposit interests with a minimum risk exposure. Investor expenses: : remuneration payable to the Management Company is not higher than 0.9% (incl. VAT) of the fund’s annual average net asset value. Remuneration paid to other participants of asset management activities does not exceed 1% (incl. VAT) of the fund’s annual average net asset value. The maximum amount of other expenses reimbursed at the expense of the assets which make up the fund is equal to 0.5% (incl. VAT) of the annual average net asset value. The markup for the purchase of investment equity participants is as follows: 1 (one) per cent (VAT included) of the estimated price of the investment stake in the event that the amount of cash paid for investment stakes is below or equal to Rub 500,000 (five hundred thousand rubles). 0.5 (zero point five) per cent (VAT included) of the of the estimated price of the investment stake in the event that the amount of cash paid for investment stakes exceeds Rub 500,000 (five hundred thousand rubles). Discount in the event of redemption of investment stakes is as follows: 0.9 (zero point nine) per cent of the estimated price of the investment stake in the event that investment stakes are redeemed within 180 (one hundred and eighty) days from the date when an entry was made about acquisition of the aforementioned investment stakes in the shareholder register of investments stakes. 0.5 (zero point five) per cent in the event that investment stakes are redeemed within the period from 180 (one hundred and eighty) days and 365 (three hundred and sixty five) days from the date when an entry was made about acquisition of the said investment stakes in the shareholder register of investments stakes. 0.2 (zero point two) per cent in the event that investment stakes are redeemed after 365 (three hundred and sixty five) days have elapsed from the date when an entry was made about acquisition of the aforementioned investment stakes in the shareholder register of investments stakes. | 
