Moscow, 14 May 2008 - UC RUSAL, the worlds largest aluminium and alumina producer, is pleased to announce its plans to complete the main construction phase and purchase production equipment for the Taishet Aluminium Smelter in 2008. Total investment will exceed USD 700 million this year. The smelters first metal is scheduled to be produced at the end of 2009. 60% of the investment this year will support building and assembling works at the smelter. The remainder will be used to purchase the required equipment. At present, 70% of the contracts for supplying production equipment have been

Magnitogorsk Iron & Steel Works’ ore mining and processing facilities have been fitted with a new shop meant for processing of metallurgical dross. According to MMK’s PR Department, the new shop was set up in order to recycle the metallurgical waste products and thus implement the enterprise’s medium-term investment program. The shop is located at a former waste deposit in Mount Magnitnaya’s mine. The hot dumps themselves are going to become a part of the new facility. This metallurgical waste is one of MMK’s strategically important objects. The plant’s dross processing shop fully

Starting May 1, 2008, METCOMBANK offers increased interest rates on its Spring/Summer and Simple Solution deposits each Thursday. In addition, any customer who opens or reopens any deposit investing 15,000 RUR or more can choose METCOMBANK’s special present.

The office of Souyz Capital Credit, the consumer cooperative, still cannot be reached over the phone, and the investors are still unable to get any information as to when they are going to get the dividends on their investments again. Some of these investors report off the record that they have invested some money in the cooperative but were unable to get it back when the time came. The investors say their money could have been refused to them due to financial troubles that, in their, turn, had been caused by the recent arrest and temporary freeze of the company’s accounts. Souyz Capital

Central Bank of Russia reports volume of loans given by UniCreditBank to state-run for-profit organizations for 91 to 180 days went down by 86.6% (from 134.5 million RUR to 18 million RUR) in January-April 2008.

According to the Central Bank of Russia, volume of loans given by UralFinPromBank to sole traders for 31 to 90 days plummeted by 93.5% (from 18.18 million RUR to 1.18 million RUR) in January-April 2008.

ChTPZ Complex Pipe Systems (ChTPZ KTS) delivered over forty tons of bent branches to Surgutneftegaz. The produce is meant for the construction of a pipeline in Khanty-Mansiyskiy Autonomous Region, the spokesperson for ChTPZ Group said to UrBC. The goods delivered have undergone ultrasonic testing, X-ray examination, magnetic particle and capillary control, and all the details and parts were subject to in-plant testing, which ensures perfect quality and great maintainability. In addition, the product quality is further supported by the ISO 9001-2001 quality management certificate that covers

Ural Airlines was happy to service the first passengers who’ve used the airline’s special offer that provides for a flight from Yekaterinburg to Saint Petersburg and back and a hotel reservation. ‘My friend and I were going to visit an exhibition in Saint Petersburg. I checked out the carrier’s website to book the tickets and I saw this special offer; I told my friend about it, we thought it over and decided that this was a good offer for us. So we saved both time and money. I have to go on business trips quite often, and having a hotel reservation made alongside with the booking of the

According to the Central Bank of Russia, volume of loans given by Uralprivatbank to private individuals for 181 days to 1 year went down by 26.7% (from 8.296 million RUR to 6.077 million RUR) in January-April 2008.

Head of Sverdlovsk Region Government Viktor Koksharov met Germany’s Foreign Minister and Vice-Chancellor Frank-Walter Steinmeier at Koltsovo airport of Yekaterinburg on May 13, 2008. The spokesperson for the Governor of Sverdlovsk Region reports the minister heads an official delegation of Germany’s leading business executives. The agenda of the minister’s visit covers meeting the Governor of Sverdlovsk Region Eduard Rossel, negotiating with the Russian Federation Minister of Foreign Affairs and Plenipotentiary Representative of Russian Federation President in Ural Federal District Petr

Central Bank of Russia reports volume of loans given by Pervouralsk Joint Stock Commercial Bank to state-run for-profit organizations for 181 days to 1 year dropped by 100% (from 1.4 million RUR to zero) in January-April 2008.

URSA Bank made $15.79m worth of coupon payments on its Eurobond issue on May 12, 2008, the bank’s press officer reports.