S&P Confirmed RZD Ratings at BB+ / BBB-

Standard & Poor’s (S&P) confirmed OAO RZD’s long-term rating at BB+ / BBB- in foreign and

national currencies, respectively, the PRIME reports. Outlook negative.

S&P believes that the Russian Government, being OAO RZD’s sole shareholder, would support the company in time and as required. OAO RZD’s corporate rating is linked to Russia’s sovereign rating.

On March 18 S&P confirmed long-term and short-term ratings of the Russian Federation at “ВВ+"/"В" in foreign currency and long-term and short-term ratings at “BBB-/A-3" in national currency; outlook negative.