17 June 2008
More than 2,000 Investors, Corporate Executives and Government Officials Gather at Renaissance Capital's 12th Annual Investor Conference
Russia represents "an incredible investment opportunity" in global economic times, Renaissance Capital's CEO tells investors

"Russia represents an incredible investment opportunity in a world where most markets are struggling and in decline," said Renaissance Capital's CEO Alexander Pertsovsky in his welcoming statement to the more than 2,000 investors, company executives and government officials attending the Firm's 12th Annual Investor Conference.

The conference also drew such big name speakers as Deputy Prime Minister and Finance Minister Alexei Kudrin, Regional Development Minister Dmitry Kozak and Arkady Dvorkovich, the top economic aide to President Dmitry Medvedev. The Rt Hon Tony Blair, former Prime Minister of Great Britain & Northern Ireland and Dr Henry Kissinger, Chairman, Kissinger Associates and former U.S. Secretary of State under President Richard Nixon, provided keynote addresses at the conference. More than 40 of Russia's top corporate executives also participated in interactive sessions devoted to six industry sectors: oil & gas, telecommunications, consumer, metals & mining, transport & power and financials.

Pertsovsky noted that in the past 12 months, "Russia's GDP in nominal dollar terms has increased 30%, and it's very realistic that this pace will continue in the medium term."

Pertsovsky stressed that to maintain economic growth, however, "Russia needs investment on a vast scale. The rebuilding of the national infrastructure of the largest country in the world will require tremendous resources."

Pertsovsky warned that while "the outlook today, therefore, is truly exciting, both for the economy and for the markets," there are some risks in the near term. He mentioned "over-heating the economy unless there is renewed focus on reforms" and the global economic situation, which he said "continues to look fragile." However he noted that "for countries undergoing sustainable economic growth, of which Russia is one, it will also present enormous opportunities."

"I believe that the dynamics of financial and economic relations between new world economies are evolving. The world's traditional financial centers are ceasing to play the role of effective financial intermediaries. The Russian financial sector is in a superb position to take advantage of this. Russia has the economic scale, the natural resources, the savings, the economic growth, the expertise and the willingness to take risk to be at the forefront of international expansion in new markets," said Pertsovsky.

Renaissance Capital's annual conference is one of the largest invitation-only gatherings of investors, Russian corporates and government officials in Russia. Throughout the conference, Renaissance Capital is arranging more than 3000 private, one-on-one meetings between investors and Russian corporates as well as scheduling regional site visits for investors in Volgograd, Magnitogorsk, Velikiy Novgorod and St. Petersburg.

About Renaissance Capital (www.rencap.com):
Renaissance Capital is a leading investment banking firm in the CIS, Central Asia and Sub-Saharan Africa. Renaissance Capital has market-leading positions in each of its core businesses - M&A, equity and debt capital markets, securities sales and trading, research, and derivatives.

Renaissance Capital is part of the Renaissance Group.