ANALYST COVERAGE

Disclaimer
HMS Group is followed by the analysts at the brokerage firms listed below. The list may not be complete and is subject to change. Please note that any opinions, estimates or forecasts regarding HMS Group's performance made by the analysts at these brokerage firms are theirs alone and may differ in whole or in part from those of HMS Group or its management. HMS Group does not by its reference below imply, and expressly disclaims, any endorsement of any reports, including conclusions or recommendations, provided by these analysts.


Equity analysts

Company

Name

E-mail

Phone

Aton

Slava Bunkov

slava.bunkov@aton.ru

+7 495 213 0344

Nikita Melnikov

nikita.melnikov@aton.ru

+7 495 213 0336

J.P. Morgan

Glen Liddy

glen.liddy@jpmorgan.com

+44 20 7155 6113

Nadia Kazakova

nadia.kazakova@jpmorgan.com

+44 20 7325 6373

Metropol

Andrey Rozhkov

rozhkov_a@metropol.ru

+7 495 933 3316

Alexandr Marinov

marinov_a@metropol.ru

+7 495 933 3316

Anna Dolajchuk

dolajchuk_a@metropol.ru

+7 495 933 3316

Morgan Stanley

Robert Davies

robert.j.davies@morganstanley.com

+44 20 7425 2057

Ben Uglow

ben.uglow@morganstanley.com

+44 20 7425 8750

Otkritie

Alexander Churikov

churikov@open.ru

+7 495 777 5656

Renaissance Capital

Boris Krasnojenov

bkrasnojenov@rencap.com

+7 495 258 7770

Kuligin Vasiliy

vkuligin@rencap.com

+7 495 258 7770

Rye, Man and Gor Securities

Andrey Tretelnikov

andrey.tretelnikov@rmg.ru

+7 495 258 6262

Troika Dialog Mikhail Ganelin Mikhail_Ganelin@troika.ru +7 495 258 0500

Ivan Belyaev

Ivan_Belyaev@troika.ru

+7 495 258 0500

VTB Capital

Olga Danilenko

olga.danilenko@vtbcapital.com

+7 495 589 2132



Debt analysts

Company

Name

E-mail

Phone

Renaissance Capital

Vladlen Andryushchenko

vandryushchenko@rencap.com

+7 495 258 7777

James Lewis

jlewis@rencap.com

+7 495 258 7777

Troika Dialog

Alexey Bulgakov

alexey_bulgakov@troika.ru

+7 495 258 0500

VTB

Mikhail Galkin

mikhail.galkin@vtbcapital.com

+7 495 663 6472

Anastasia Grigorieva

anastasia.grigorieva@vtbcapital.com

+7 495 660 6769



Analyst recommendations

Company

Name

Target price

Recommendation

Date

Aton

Nikita Melnikov

US$ 10.65

Buy

09 June, 2011

J.P. Morgan

Nadia Kazakova

US$ 12.20

Overweight

01 July, 2011
Otkritie Alexander Churikov US$ 11.00 Buy 21 July, 2011
Metropol Alexandr MarinovUS$ 10.80 Buy 08 December, 2011
Rye, Man and Gor Securities Andrey TretelnikovUS$ 8.2 Buy 20 December, 2011

Renaissance Capital

Boris Krasnojenov

US$ 10.20

Buy

10 February, 2012

VTB Capital

Olga Danilenko

US$ 8.6

Buy

04 May, 2012
Source: Bloomberg