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July 4, 2007

The operational indicators of the largest and most reliable Russian payment system, CyberPlat®, testify to the reinforcement of its leadership position in the top-up market.

CyberPlat® - the first among Russian payment systems - was created in 1997. The first online payment was effected on March 18, 1998 for the benefit of the Garant-Park Company; and the first cellular communication operator, Beeline, received an initial payment on August 12, 1998.

In Aril of 2007, the CyberPlat® cash acceptance network became a CNews Awards laureate for "Creating and developing the electronic payment market of Russia." CNews Awards is a national prize in high technology and the Internet, celebrating outstanding achievements in information technologies and electronic communications among leading companies, state and public organizations, business entities, as well as single public figures, who made a significant contribution in the development of the Russian IT market.

The most prestigious IT award has again confirmed the authority, reliability and unconditional leadership of the CyberPlat® cash acceptance network in payment acceptance market.

Financial Performance

In the first half of 2007, the total turnover of the CyberPlat® cash acceptance network reached 2.012 billion US dollars, which twice surpassed the turnover of the similar last year period. Hence, the CyberPlat® Company has all the more reinforced its status of the largest payment system of Russia. The CyberPlat® cash acceptance network collects more than 20% of the turnover of all Russian cellular communication operators, being the largest partner of Beeline, MTS and Megaphone in the volume of accepted subscriber payments.

Out of the total turnover of CyberPlat®'s, 96% is accounted for by the payments accepted from the subscribers of mobile operators, 1.5% - from subscribers of commercial television, 2.5% are payments for the fixed-line communication, Internet access, security alarm systems, communal services and retail loans.

The accession of CyberPlat® to the World GSM Association has become a well-earned acknowledgement of the high quality of services and the Company's contribution to the development of the national cellular communication market.

Transactions

In the first half of 2007, 570 million payments were processed via the CyberPlat® broad-based cash acceptance network. It is noteworthy that payment operation processing in CyberPlat® is performed in the online mode and takes not more than 1 second per one transaction although each transaction includes the preliminary verification of the subscriber number existence and contains the electronic digital signatures of the parties.

In the June of the current year alone, the system processed over 107 million payments for the total amount of 400 million US dollars. Such a volume of operations implies that practically 2/3 of Russia's population use the services of the CyberPlat® cash acceptance network as it is fast, secure and reliable.

In terms of reliability, productivity and stability, the CyberPlat® payment system has long been beyond competition in the Russian payment acceptance market. The company strategy implies the anticipatory development of the system's capabilities compared to the most rigid technological requirements of the market. According to the expert evaluations, the CyberPlat® fault-resistance factor exceeds the similar factor of the system's closest competitor more than five times, i.e. CyberPlat® is always up and running providing best service for its customers, as opposed to the other payment systems. This is one of the reasons for almost all large retail chains being the company's customers - appreciating the reliability, fault-free operation, functionality and safety of the CyberPlat® payment acceptance system.

International business

The CyberPlat® Company, within the framework of its full-scale program of international expansion, successfully replicates the long-standing experience and well-tested technologies, developing its business in Kazakhstan, Ukraine and Uzbekistan.

A Kazakhstan subsidiary company - CyberPlat®-Kazakhstan LLC - was in incorporated as early as on March 15, 2005. The first payments via the system were effected in April 2006. And currently, the cash top-up network in the territory of Kazakhstan comprises over 3000 points.

The client list of the CyberPlat® cash acceptance networks in Kazakhstan includes the largest Russian retail chains - Euroset and Dixis, as well as the leading local market players: Mzone cellular communication shops, Orbita-Telecom, Sim-Mobile, the Sulpak consumer electronics retail chain, the largest cash-in terminal chains - MCash and Multi Pay, and many others. A partner project with Kazpost JSC, embracing the most branched office chain in Kazakhstan with over 3000 offices, is developing at an accelerating pace.

In March 2007 KaR-Tel LLC (Beeline trade mark) awarded CyberPlat® payment system with the Certificate of Acknowledgement as the absolute leader by the aggregate volume of payments accepted from Beeline subscribers in dealer stores, payment terminals (cash-in) and independent retail outlets within the territory of Kazakhstan for the year of 2006. The CyberPlat® payment system plays the leading role in development of Kazakhstan mobile communication market. The simplicity of business organization and safety of payments made through CyberPlat® system generates interest from the part of various retail companies operating in Kazakhstan.

Within the framework of the global international development program the CyberPlat® payment system has been successfully developing its business in Ukraine in the first half of 2007. The CyberPlat® cash acceptance network in Ukraine consists of several hundreds outlets with their number keeping expanding. A representative office of the CyberPlat® cash acceptance network was opened and began operating in Uzbekistan in the reporting period.

Payment acceptance network

The total number of payment acceptance outlets of the CyberPlat® system increased by more than 80% in 1H 2007, and by the beginning of July comprised over 70 000. If the payment outlets, not visible to the CyberPlat®'s accounting system, are included, the total number of the outlets may exceed 100 000. This sustainable and dynamic business growth was achieved by connecting new payment terminal networks, retail and dealer companies, as well as branches of various banks. Particularly, in the first half of 2007 Promsvyazbank, the Severnaya Kazna Bank, TS-Retail - a subsidiary of the largest Russian financial holding, JSFC Sistema, and a telecom giant, MTS - became participants of the CyberPlat® payment system.

In the accounting period, the CyberPlat® cash acceptance network continued strengthening its successful partnership with the largest federal retail chains - Post of Russia, Svyaznoy, Dixis, Euroset, Tsifrograd, Beta Link, Ultra Star; electronics store networks - Eldorado, Mir, White Wind; 36'6 pharmacies; Lukoil and Gazpromneft petrol stations; Elexnet, I-Box, Multikassa, Platforma cash-in terminal chains, and many others.

It is noteworthy that CyberPlat® cash acceptance network partners preeminently with large companies maintaining steady turnover growth and a high level of technological and corporate culture - whether retail or terminal chains.

Providers

In 1H 2007, CyberPlat® took new opportunities in the payment acceptance market and significantly increased the number of payment gateways to the billing systems of various service providers. Particularly, Russian regional mobile operators, Penza-Mobile, STeK GSM, Ulan-Ude Cellular Network, connected to the CyberPlat® cash acceptance network; as well as fixed-line operators - CenterTelecom OJSC, Dalsvyaz OJSC, Sakhatelecom; the communal services of the city of Tumen, the CobraConnex security system operator; internet providers - Enforta, Golden Wi-Fi, Telfin, Novotelekom and many others.

Cross-border payments

In the accounting period, CyberPlat® launched a system of cross-border payments.

The subscribers of three states - Russia, Kazakhstan and Ukraine - can now pay for mobile communication via CyberPlat®, one of the largest payment systems, regardless of the country of their presence.

Russian nationals have long been accustomed to making fast and hassle-free cash payments for mobile communication, using a wide cash acceptance network of CyberPlat® throughout entire Russia. Now they have received another advantage - they can top-up their mobile telephones with local currencies in the neighboring countries, Kazakhstan and Ukraine. Russian visitors are offered a developed network of top-up points deployed in the territory of Kazakhstan and Ukraine in the trading and service outlets connected to the CyberPlat® payment system.

Likewise, Kazakhstan and Ukranian residents visiting Russia can easily replenish their cellular accounts at over 70 000 top-up points of the cash acceptance network. All payment acceptance operations are performed in the online mode and the use of the Electronic Digital Signature prevents fraud risks, making the transactions of account replenishment, in the mobile operators' billing systems, irrefutable.

The cross-border payment infrastructure developed by CyberPlat® creates ultimately comfortable conditions for the residents of the three neighboring countries. The service will be in particular demand from subscribers living in the juxtaposed territories. The new service of the CyberPlat® payment system allows millions of people going for a visit to their relatives either on a business trip, or for a vacation to always keep in touch wherever they are.

Terminal business

In H1 2007, the CyberPlat® system has been actively elaborating the payment acceptance terminals (cash in) software. In the light of the above, a great number of cash-in terminal networks became the CyberPlat® payment system customers - Novoplat, Molnia, Europlat, ElectroPay and others.

A number of the leading Russian dealer chains has been successfully using the CyberPlat® payment system technological developments in the field of cash in payment terminals. In particular, joint projects with Euroset and Dixis for the installation of cash-in payment terminals, using the CyberPlat® system processing, in the retailer stores and independent retailer outlets, were implemented. Over 350 cash-in payment terminals were installed in Moscow, Saint Petersburg and Voronezh under the joint project with Euroset throughout H1 2007. The joint project between CyberPlat®, the biggest cash acceptance network and Euroset, the largest retailer, will be rampantly developing in the coming months - the partnership targets installing several hundreds terminals a months with their number growing up to 2000 by the end of 2007.

Technological and financial innovations

1. The new processing system version

In March 2007, the CyberPlat® specialists developed and implemented a set of modifications to the payment system hardware and software complex that provided more than a double increase in the system's capacity, without the server park enhancement.

The results of the special testing carried out in March 2007 demonstrated that the system is capable of processing over 1.5 million transactions per hour, or over 400 transactions per second. Meanwhile, the regular system operation load makes up 75 transactions per second, the average load on the CyberPlat® payment system processing center reaches 90 transactions per second on holidays eves.

At the instances of CyberPlat®'s peak load, including situations when, due to technical failures, other payment systems do not operate, or immediately after the resumption of functioning of telecom operators' billing systems, the payment stream through CyberPlat® substantially increases and the maximum load on the system reaches 110 transactions per second. That means the CyberPlat® cash acceptance network possesses a four-fold reserve of productivity and operating stability, even in emergency situations.

The implemented technical innovations enable ensuring CyberPlat® system's truly unique fail safety, reliability and productivity parameters.

2. Payment acceptance through POS-terminals

In May 2007, the CyberPlat® payment system, the leader in the Russian electronic payment market, in cooperation with INPAS, a prominent supplier of technological solutions in developing acquiring systems, and VeriFone, the global leader in POS-terminal equipment, offered a new unique product which has no equals in quality, fault-tolerance, reliability and the cost.

Customers can now purchase universal, easy to use CyberPlat® payment system connected POS-terminals - VeriFone Nurit 8010 and Nurit 8320 - on the most profitable conditions offered in the market. State-of-the-art, modern, reliable and constantly updated software was developed by the CyberPlat payment system in order to accept payments through the VeriFone POS-terminals. Intensive cooperation is carried out with the number of other companies specialized in POS-terminal manufacturing and sales, such as Sagem, PAX, SHTRIH-M. All the terminals are sold with the pre-installed CyberPlat® system software.

The accounting period was marked by an increase in the scales of provision of CyberPlat® partners with short-term crediting services that enable dealers to accept payments even when the funds on their accounts are exhausted. This service provides the system's partners with additional convenience, and enables them to increase their profits even if they encounter a shortage of operational funds.

CyberPlat® has managed to take the leading position among the payment systems in Russia and the CIS member states due to its advanced technological solutions, high degree of transactions safety as well as employment of its long-standing experience in electronic settlements.

The up-to-date e-technologies, convenient for partners, ensuring high speed as well as safety of transactions? guaranteed by the use of electronic digital signature (EDS), favorable financial terms, including opportunities of crediting against payment acceptance, everything specified above makes CyberPlat® a very attractive business partner for the leading companies in Russia.

Andrey Gribov, Director General of CyberPlat®, has pointed out: "The recent six months were marked by a substantial growth of the turnover and the number of cash payment acceptance outlets, that testifies to the market demand for our high-tech and reliable services. Our customers are aware of the "CyberPlat® is always up and running!" principle being the distinctive feature of CyberPlat® e-payment system".

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