Listingrule s

SECTION 2. LISTING OF SECURITIES

SUB-SECTION 2.1. REQUIREMENTS TO BE MET FOR THE LISTING OF SECURITIES.
PROCEDURE FOR THE LISTING OF SECURITIES

Article 5. Requirements to Be Met for Listing of Securities

1. 
   Securities may be listed (included in Level One, Two or Three), if all of the following conditions are met:
   
   1. 
      In relation to 39-FZ regulated (emissionnye) securities of Russian issuers (other than Exchange-registered bonds, commercial bonds, government, subfederal and municipal securities of limited negotiability, or those available to be held in ownership or otherwise on a proprietary basis to certain classes of persons only (hereinafter, government, subfederal and municipal securities not to be offered to general public), Bank of Russia bonds, securities intended for qualified investors, as well as Exchange-registered RDR):
      
      1. 
         conformity of such securities with the requirements of the laws of the Russian Federation, including the Bank of Russia regulations;
         
      2. 
         registration of the securities prospectus (securities issue prospectus, privatisation plan registered as securities issue prospectus) if in accordance with the laws of the Russian Federation, such registration is necessary for the public circulation of securities;
         
      3. 
         assumption, by the issuer, of the obligation to disclose information in accordance with Annex 7 to these Rules if registration of a securities prospectus is not required for the public circulation of securities, or disclosure by the issuer of information in accordance with the requirements of the Securities Market Law, other statutes and regulations of the Russian Federation, including the Bank of Russia regulations (hereinbefore and hereinafter, the securities law of the Russian Federation);
         
      4. 
         assumption, by the issuer of Russian Depositary Receipts evidencing the title to a certain number of a foreign issuer's securities evidencing the rights in relation to the foreign issuer's shares or bonds, of the obligation to disclose information on the issuer of such foreign shares or bonds in accordance with the requirements of the securities law of the Russian Federation and Annex 8 to these Rules (for Russian Depositary Receipts).
         

2.