Issue information:

• Issuer, issue number:	RZD, 8
• Income calculation:	Date of trades Price %
• Type of bond:	Domestic bonds
• Issue status:	outstanding
• Offering:	public
• Par, currency of issue:	RUR, 1000
• Amount:	20 000 000 000
• Registration date:	Jun 17 2008
• State registration number:	4-08-65045-D
• ISIN:	RU000A0JPW61
• Start of placement:	Jul 09 2008
• End of placement:	Jul 09 2008
• Date of circulation start:	Jul 15 2008
• Issue price:	100
• Coupon:	Coupons 1-6 are either set at auction or before start of placement
• Coupon frequency:	2 time(s) per year
• Settlement date:	Jul 09 2008
• Maturity date:	Jul 06 2011
• Arrangers:	TransCreditBank
• Trading floor, listing category:	MICEX (V)
• Issue ratings: (rating history)	Fitch Ratings AAA(rus) National Scale (Russia) 07/22/2008
• Additional information:	In Russian Only
• Investment banks:	Lead manager(s):  Troika Dialog Investment Company TransCreditBank  VTB Gazprombank Co-lead manager(s):  Sviaz-Bank  ROSBANK  Alfa Bank Region Group Ñommerzbank (Eurasija) Co-underwriter(s):  AK BARS Bank JPMorgan Deutche Bank Russia  Renaissance Capital

Borrower:

• Issuer:	RZD
• Full issuer name:	Russian Railways
• Country:	Russia
• Web site:	http://www.rzd.ru/
•Other issues of the issuer:	RZD, 11 - Domestic bonds  RZD, 9 - Domestic bonds  RZD, 12 - Domestic bonds  RZD, 10 - Domestic bonds  RZD, 5 - Domestic bonds All issues of the issuer
• Issuer profile:	JSC Russian Railways («RZD») is the largest railroad transportation company in Russia and one of the largest in the world. Its chartered capital is 1 541 697 819 rubbles. 100% of "RZD" shares are co ...
• Industry:	Transportation
Issuer ratings: » rating history Standard&Poor's BBB/Negative Int. Scale (foreign curr.) 12/09/2008 Standard&Poor's BBB/Negative Int. Scale (loc. curr.) 12/09/2008 Standard&Poor's ruAAA National Scale (Russia) 12/09/2008 Moody's A3/Positive Int. Scale (foreign curr) 07/16/2008 Moody's A3/Stable Int. Scale (loc. curr.) 10/26/2005 Fitch Ratings BBB+/Negative Int. Scale (foreign curr.) 11/17/2008 Fitch Ratings BBB+/Negative Int.l Scale (local curr.) 11/17/2008 Fitch Ratings AAA(rus)/Stable National Scale (Russia) 11/17/2008 National Rating Agency AA+ National scale (Russia) 07/06/2007
• News on the issuer:	20.06.08 Russian Railways : Consolidated Financial Statements prepared in accordance with IFRS, 2006
• documents:	Consolidated Financial Statements prepared in accordance with IFRS, 2006 (477k)
Complete profile

Financial accounting:

Quarterly FFMS Reports:

Trading info (MICEX, Dec 23 2008):

Payment schedule: