Coal Mining                                                    

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Krasnoyarsk coal company

Purchase of controlling stake

• February 2000

Sale of controlling stake

• February 2002

Problems solved:

• 10% increase of overall production

• Liquidation of wage arrears

• Restructuring of debt to federal and local budgets

• Repayment of receivables

• Discharge of liabilities

Gukovugol

Purchase of controlling stake

• November 2002

Sale of controlling stake

• June 2003

Problems solved:

• Corporate restructuring

• Execution of new collective agreement

• Refinancing of debt

• Strengthening the management team