Renaissance Capital Is No. 1 in Russian-Equities Research, Institutional Investor Survey Finds

NEW YORK, NY--(Marketwire - June 17, 2008) - Renaissance Capital provides the best coverage of Russian equities, according to participants in Institutional Investor's 2008 All-Russia Research Team survey. The Moscow-based firm has been ranked No. 1 every year since the annual survey was launched in 2004.

RenCap wins 15 total team positions (first, second, third place and runner-up) and captures the top spot in 11 of the survey's 12 sectors. Troika Dialog leaps two places to second, with 11 team positions, five more than in 2007. UniCredit Aton and Deutsche Bank each slip one notch, to third and fourth place, respectively, while UBS holds steady in fifth place.

Over the past year, Russian investment banks have recruited scores of analysts -- including many senior researchers from global banks -- in a bid to capitalize on the strength of the domestic market and build powerful securities franchises, driving up salaries and making Moscow one of the most lucrative destinations in the world.

"There's an enormous demand for analysis of a complicated region, and people are willing to pay for it," says Roland Nash, head of research and chief equity strategist at Renaissance Capital in Moscow. "If you want to make your fortune, go East, young man."

Rank                       Firm                        Total Positions
1                          Renaissance Capital               15
2                          Troika Dialog                     11
3                          UniCredit Aton                     9
4                          Deutsche Bank                      8
5                          UBS                                4


No. 1 Analysts in Each Sector:
Sector                     Firm                        Analyst
Consumer                   Renaissance Capital         Natalya Zagvozdina
Economics                  Troika Dialog               Evgeny Gavrilenkov
Equity Strategy            Renaissance Capital         Roland Nash
Financial Services         Renaissance Capital         David Nangle
Industrials                Renaissance Capital         Marina Alexeenkova
Metals & Mining            Renaissance Capital         Robert Edwards
Oil & Gas                  Renaissance Capital         Alexander Burgansky
Real Estate                Renaissance Capital         Alexei Yazykov
Telecommunications         Renaissance Capital         Alexander Kazbegi
Utilities                  Renaissance Capital         Derek Weaving
Fixed Income Corp. Debt    Renaissance Capital         Petr Grishin
Fixed-Income Strategy      Renaissance Capital         Alexei Moisseev

Complete survey results, including a list of the first, second and third place analysts in each sector, can be found on our web site, www.iimagazine.com, and in the June 2008 international edition of the magazine.

Institutional Investor's fifth annual All-Russia Research Team was selected by nearly 290 buy-side investors at more than 230 institutions worldwide managing an estimated $108 billion in Russian assets.

Contact Information: Contact Information: Chris Cavanagh 212-224-3369 chriscavanagh@iimagazine.com www.iimagazine.com