On June 24, 2010 Mr. Mikhail Semenov, General Director of RENOVA StroyGroup, attended the conference The Russian Bond Market - New Age 2010 arranged by URALSIB Capital for investors and issuers of the Russian bond market.

The conference aims to provide investment community with objective and accurate information on the Russian bond market, its current conditions, challenges and prospects, to relate the position and strategy of regulators to market players, to discuss the most topical issues and continue a direct investor-to-issuer dialogue.

Invitations to the 2010 Conference were sent to the Ministry of Finance, the Ministry of Economic Development, bond market experts from the leading local and international investment banks, top managers of key Russian issuers, as well as domestic and foreign investors in the Russian bond market.

On the first day of the conference, participants discussed the results of anti-crisis efforts aimed at fostering the recovery of the Russian bond market, mapping the lines for its further development.

Mr. Mikhail Semenov participated in discussions on Domestic Market of Corporate Debt, sharing his experience and assessing the current status of this sector: “For our company as a young issuer entering the domestic capital market is the best way of attracting investments. After the crisis the bond market restored faster than the loan market. An unfavorable aspect is cluster liquidity. In the market external variations result in volatility periods during which any investment is problematic. Instability of the construction sector is another factor causing additional risks. Ranch profitability has been defined but it is rather conventional".