OREANDA-NEWS. November 18, 2011. Joint Stock Company “Open Investments” (JSC “OPIN” or the “Company”) (BLOOMBERG: RTS - OPIN.RU; MICEX - OPIN.RM), one of the leading real estate developers in Russia, today announces the results of submitted applications by shareholders in response to decision announced on General Shareholders’ Meeting on 8 September 2011 of  partial shares buyback.

On 8 September 2011 JSC OPIN announced the decision to decrease the authorised capital stock of the Company by 60,000 registered ordinary shares (0.39% of total float) via a buyback of such shares from the market at a price of 955 rubles and 65 copecks per share. Applications to sell shares could be submitted through branches of the Company’s Registrar CJSC "Computershare Registrar" within the period from 13 October 2011 till 11 November 2011.

Forty eight applications were submitted for the total amount of 483,678 (four hundred eighty three thousand six hundred seventy eight) shares.

Since the total number of shares submitted to the Company for sale exceeded 60,000 shares, they would be purchased on a pro rata basis with rounding down where necessary (not in accordance to math rounding rules in order to avoid the purchase of fractional shares). Effectively, the coefficient at which the submitted for buyback shares will be purchased is equal to 0.1240494709 (60,000 divided by 483,678). At the same time the number of shares to be purchased from a shareholder shall not be less than one share.

In order to complete the sale of shares, shareholders or their authorised representatives who submitted applications should personally visit the branch of CJSC “Computershare Registrar” through which they filed such an application before 28 November 2011 in order to sign a Share Purchase Agreement.

Shares will be paid in cash in rubles within the timeline set in the Share Purchase Agreement, which is equal to 5 (five) days from the date of record to transfer shares on OPIN’s account in the shareholders register. Expenses for reregistration of shares will be incurred by JSC “OPIN”.