Notice of change of depositary bank

March 11, 2011

Moscow, Russia – March 11, 2011 – Cherkizovo Group OJSC (LSE: CHE) has provided notice of termination to JPMorgan Chase Bank as depositary under the deposit agreement with the Company dated 27 March 2006. The Company has agreed to enter into a new deposit agreement with Bank of New York Mellon who will replace JPMorgan Chase Bank as depositary with effect from 12 May 2011.