Licences

Metropol Asset Management, holder of a License № 21-000-1-00119 issued by the Federal Commission for Securities of the Russian Federation on May 23, 2003 in the conduct of asset management, investment management services, and non-government pension funds management. Metropol Asset Management, holder of a License № 177-09844 -001000 issued by the Federal Financial Markets Commission of the Russian Federation on January 16, 2007 in the conduct of investment management services.

The open-end stock mutual fund “Metropol Zolotoe Runo”. The fund’s prospectus № 0147-7023253 9 was registered on November 12, 2003 by the Federal Commission for Securities of the Russian Federation.

The open-end index mutual fund “Metropol Poseidon — MICEX Index”. The fund’s prospectus № 0891-94127273 was registered on July 19, 2007 by the Federal Commission for Securities of the Russian Federation.

The open-end hybrid mutual fund “Metropol Afina”. The fund’s prospectus № 0149-70232 611 was registered by the Federal Commission for Securities of the R ussian Federation on November 12, 2003.

The open-end bond mutual fund “Metropol Zevs”. The fund’s prospectus № 0148-7023245 6 was registered on November 12, 2003 by the Federal Commission for Securities of the Russian Federation.

Please, consider the funds’ prospectuses carefully before investing. You may have a gain or loss when you invest in the funds. Past performance is not indicative of future results. Returns on investments are not guaranteed by the government. The funds’ prospectuses stipulate purchase and redemption fees.

The funds’ prospectuses, other documents and additional information relative to the management of the funds has been published in the “Federal Commission for Securities Herald”, is available on the phone (495) 741-70-50, on the company’s web-site: http://am.metropol.ru, and with the funds’ distributors.