EuroSet

Euroset is the largest mobile handset retailer in Russia and one of Russia's leading dealers for major mobile network operators. The main business activity of the Euroset Group is the retail sale of mobile handsets, digital cameras, CD and MP3 players and DECT-phones, mobile handset accessories and subscriptions to mobile network operators. Currently, there are 4,490 Euroset retail outlets in Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan and Kyrgyzia. Euroset's next goal is to further develop its business in all republics of the Commonwealth of Independent States ("CIS") and the Baltic States. Euroset aims to diversify its business while at the same time expanding the product portfolio in its current retail business. New businesses which Euroset intends to develop include MVNO and logistics services.