DGAP-News: JSC Open Investments: JSC OPIN announces disposal of non-strategic asset in Moscow

EquityStory.RS, LLC-News: JSC Open Investments / Key word(s):
Disposal/Disposal
JSC Open Investments: JSC OPIN announces disposal of non-strategic
asset in Moscow

15.09.2011 / 07:00

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THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA

JSC OPIN

DISPOSAL OF NON-STRATEGIC ASSET:
RETAIL DEVELOPMENT PROJECT IN MOSCOW

JSC OPIN announces today a sale of Raikina shopping centre project located
at 8 Sheremetyevskaya Street in Moscow. The amount of transaction is $US50
million.

The project assumed a redevelopment of two municipal buildings previously
occupied by cultural centre named after famous Russian comedian Arkady
Raikin into a 70,000 sq. m shopping and entertainment centre (building A)
and a 5,000 sq. m facility (building B) for the needs of not-for-profit
Raikina Culture and Arts Development Fund (project co-investor).

In building A the underground part is completed only; building B is 90%
constructed and may soon be ready for fit-out works.

Commenting on today–s announcement, Artemiy Krylov, CEO of OPIN, said:

–Sale of Raikina lies in line with our new strategy to dispose non-core
assets and concentrate on the development of master-planned multi-format
residential communities in Moscow and Moscow Region. OPIN is ready to
invest resources in only quality yielding assets in Moscow.

OPIN continues the development and sales of real estate in our famous
Pavlovo, Pestovo and Martemyanovo housing communities and in a short while
we will be launching a number of large-scale multi-format residential
projects in the Moscow Region.

With proceeds from sale of Raikina the Company plans to repay a portion of
its current debt and reinvest into new projects with higher return
potential–.

-end-

For further information, please contact:

Investors:
Stanislav Joukov +7 495 363 2211 ext. 2388

Media:
Anna Rogova +7 495 363 2211 ext. 2513

About OPIN

Established in 2002, JSC OPIN is one of the leading real estate development
companies operating in Moscow and Moscow Region. OPIN is focused on the
development of master-planned multi-format residential communities and
operation of high-quality commercial properties in Moscow and Moscow
Region. Having completed nearly 200,000 sq. m of commercial space and 500
ha of developed master-planned communities, OPIN today is a well-recognised
brand in the domestic market, known for the market-leading quality of the
projects it delivers. Through its property expertise and successful track
record, the Company–s strategic goal is to become a platform for
consolidation of assets in the real estate industry in Russia.

As of 30 June 2011 OPIN–s total assets were US$1.86 billion, predominantly
comprising of residential and land bank properties as well commercial real
estate. In 2010 the Company recorded total revenue of US$151 million and
during six months of 2011 – US$115 million.

The Company–s majority shareholder is ONEXIM Holdings Ltd, a major private
investment group in CIS with a diversified portfolio of assets in mining,
real estate, financial services, media, energy production and high tech.

In November 2004 OPIN was successfully admittedto the RTS stock exchange
and since then has carried out six secondary public offerings, raising
nearly US$2 billion.

Further details can be found on the OPIN website at www.opin.ru

End of Corporate News

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15.09.2011 Dissemination of a Corporate News, transmitted by
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Language: English
Company: JSC Open Investments
Tverskoy blvr, 13/1
123104 Moscow
Russia
Phone: + 7 495 363 22 11
E-mail: info@opin.ru
Internet: www.opin.ru
ISIN: RU000A0DJ9B4

End of News EquityStory.RS, LLC News-Service
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139341 15.09.2011

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