Arthur Markaryan

Non-Executive Director

Mr. Markaryan has been President of the Russian National Development Association, a noncommercial organisation which provides support and advisory services to Russian real estate developers, since November 2008. He started his career in the field of banking and specialized in project financing in Stolichny Bank Sberezheniy, Menatep and ABN AMRO. In 2000, Mr.Markaryan left the position of Vice President of ABN AMRO and moved to the manufacturing sector as CFO of Nosta (Orsko-Khalilovsky iron-and-steel works) where he remained until September 2001. He expanded his experience in the world of finance by taking up the position of CFO with the largest Russian chemical companies - Uralkaly (from October 2001 to December 2003) and Eurochem (from December 2003 to March 2006). From April 2006 to December 2008, Arthur Markaryan was CEO of Glavstroy, an integrated holding group managing the construction assets of Basic Element.

Arthur Markaryan holds a Master's degree in Economics from the Moscow People's Friendship University.

Mr. Arthur Markaryan has, or has during the last five years been, director or partner of the following companies or partnerships:

CURRENT	PAST
OJSC Glavstroy OJSC Glavmosstroy OJSC Mospromstroymaterialy Glavstroy-SPb Ltd OJSC Planning Institute N2	CJSC Glavstroy-management Glavstroj Corporation LLC OJSC Mosmontazhspetsstroy