DGAP-News: JSC Open Investments: OPIN Has Presented Its Development Strategy until 2015

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Miscellaneous
JSC Open Investments: OPIN Has Presented Its Development Strategy
until 2015

27.05.2011 / 15:50

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PRESS RELEASE

OFFICIAL OPIN COMMUNICATION

OPIN Has Presented Its Development Strategy until 2015
Moscow, May 26, 2011

OPIN Development Group Board has approved company development strategy
until 2015 today. The strategy is targeted at the company–s regaining its
leading position in the industry, increasing net asset value to 2 billion
USD by 2015 as well as at ensuring high OPIN stock liquidity and performing
an international listing in 2012.

Dwelling on the new strategy, Dmitry Razumov, ONEXIM Group General Director
and OPIN Board Chairman, stressed that its main directions are residential
and commercial property project portfolio diversification and creation of
an OPIN-based platform for industry asset consolidation.

The diversified company project portfolio, with the transfer of a number of
objects by the ONEXIM Group to OPIN being the first step in its creation,
will ensure stable financial inflow from sales and property use. Integrated
area development – compulsory multi-format character, various price segment
availability within a single project, developed infrastructure, connected
utility lines and sizeable investment into the project at its early stages
form the bedrock of a competitive developer business model.

–The company will construct over 240 thousand square meters of real estate,
including trade and office centers, on 1,000 hectares of land in the Kiev,
Dmitrov and Leningrad direction and invest over 680 million USD into new
construction–, said OPIN General Director Artemy Krylov.

At the same time, the company will retain its leading position in the
detached single family house construction sector and plans to complete the
ongoing Pavlovo, Pestovo and Martemyanovo projects, the investment into
shich amounts to almost 1 billion USD. OPIN will invest about 70 million
USD into its residential areas in 2011.

The Board of Directors resolved to sell some marginal assets of the
company, search for a strategic investor for Viceroy Homes Ltd., a Canadian
frame house manufacturer, sell the Raikin Retail and Entertainment Center
as well as part of the company land bank presently equal to 38 thousand ha.

–Nowadays OPIN has all prerequisites for rapid growth. A positive market
trend, financial stability of the company, our experience and the OPIN
brand are a basis for successful company development–, emphasized Artemy
Krylov.

Company Background.

OTKRYTYE INVESTITSII (OPEN INVESTMENT) open joint-stock company (OAO OPIN)
is the largest investment and development holding at the Russian market.
The company was founded in 2002 with the purpose of asset consolidation in
the real estate business. OAO OPIN successfully allocated its stock among a
wide circle of international and Russian investors and became the first
public company at the Russian real estate market.

OPIN is implementing projects in Central Russia, developing its own stock
market liquidity at the largest domestic exchange marketplaces and at
international stock exchanges in the long run.

Company profit amounted to 323 million USD and the estimated total values
of its assets equaled to 2.3 billion USD in 2009.

3 largest detached single familyhouse residential areas with a total value
of 417 million USD – Pestovo (Dmitrov direction), Pavlovo (Novorizhsky
direction) and Martemyanovo (Kiev direction) – are under construction at
the moment.

OPIN was pronounced the Developer of the Year at the Residential Area of
the Year contest in 2011. The Pestovo project won in the Best Elite
Residential Area nomination and the Pavlovo residential area won a prize as
the Best Infrastructure and Development Project.

For more information please contact:

Anna Rogova, JSC OPIN Press Secretary
Tel./Fax: (495) 363-22-11
Mobile +7 919 970-23-02
RogovaAB@opin.ru,
www.opin.ru

End of Corporate News

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Language: English
Company: JSC Open Investments
Tverskoy blvr, 13/1
123104 Moscow
Russland
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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126595 27.05.2011