NOTIFICATION OF CHANGE OF DEPOSITARY

May 12, 2011

Cherkizovo Group OJSC (LSE: CHE) announces that a new deposit agreement with The Bank of New York Mellon is effective from today. 

Further to the announcement dated 11 March 2011, The Bank of New York Mellon will replace JPMorgan Chase Bank as depositary for Cherkizovo Group under a new agreement effective from today, 12 May 2011.  

The initial term of the new appointment is until 12 May 2018.  

Information regarding the new depositary 

The Bank of New York Mellon is a state-chartered New York banking corporation and a member of the United States Federal Reserve System, subject to regulation and supervision principally by the United States Federal Reserve Board and the New York State Banking Department.  The Bank of New York Mellon was constituted in 1784 in the State of New York.  It is a wholly owned subsidiary of The Bank of New York Mellon Corporation, a New York bank holding company.  The principal office of The Bank of New York Mellon is located at One Wall Street, New York, New York 10286.   

Established in 2007 from the merger of Mellon Financial Corporation and The Bank of New York Company, Inc., BNY Mellon is a leading asset management and securities servicing company.  

BNY Mellon’s registered address is One Wall Street, New York, NY 10286, USA.  

DR holders do not need to take any action in connection with this notice. 

Certified or conformed copies of this Agreement shall be filed with BoNY and the Custodian and shall be available to Holders for inspection during normal business hours on any business day at the specified offices of the Depositary and any Agent and at the Main Office of the Custodian. 

For more information on the depositary, please visit www.bnymellon.com