Depositary receipts program

Deutsche Bank Trust Company Americas is appointed the exclusive depositary "Motor Sich" JSC on service of the Global Depositary Receipts (GDR) issue program.
On February 28, 2007, the depositary agreement between "Motor Sich" JSC and Deutsche Bank Trust Company Americas was signed in the Kiev representative office of "Motor Sich"JSC.
The agreement establishes the rights and obligations of "Motor Sich" JSC and Deutsche Bank Trust Company Americas with respect to the GDR program, regulates the sponsored issue of GDRs for "Motor Sich" JSC,shares, to be included into Euroclear and Clearstream systems. Ratio between the GDRs and shares is equal to 10 : 1.