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Moody’s assigns (P)B1 rating to proposed bond of New Forwarding Company

NOT FOR DISTRIBUTION IN THE UNITED STATES

New Forwarding Company announces that Moody's Investors Service (“Moody’s”) has today assigned a (P)B1 rating with stable outlook to a 5-year RUB3 billion bond to be issued by New Forwarding Company (”NFC”). NFC is a Russian operating subsidiary Globaltrans Investment PLC, the largest private freight rail transportation group operating in Russia by the size of owned fleet.

The bond is to be issued to refinance debt and for general corporate purposes.

Current provisional rating is provided in advance of the bond issue. Upon a conclusive review of the transaction Moody's will assign a definitive rating to the securities. A definitive rating may differ from a provisional rating.