Lastochkino Gnezdo Project Presentation

Unique price, product and market combination Etalon Group is attractively positioned in high quality, yet affordable real estate segment Real estate price segments of presence vs. competitors Supply structure by volume(2) (2H 2010) MMA SPMA Regions PIK SU-155(1) LSR SU-155(1) RGI International PIK SU-155(1) YIT St. Petersburg 9% 14% Total: 1.1mn sqm LSR LSR RGI International »Etalon Group Sistema-Hals Mirland Don-Story(1) Inteco (1) Lower Medium Upper Lower Economy Class Medium Upper Medium Class Panel Poured concrete Premium Class 77% Moscow 10% Total: 1.9mn sqm 46% 44% 1% 5% 94% Moscow Region Total: 13.7mn sqm Economy class Middle class Premium class • . Etalon Group is positioned in Upper Economy Class and Lower Middle Class - market segment with fewer number of competitors Economy Class and Middle Class price segments dominate both SPMA and MMA real estate markets, with marginal share of premium class Competitive pricing combined with upscale poured concrete technology is able to target a very wide universe of customers (1)Non-public peers (2) Based on the total area of residential apartments available for sale on primary market at the end of 2H 2010 Etalon Group 9

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