SHARE INVESTMENT FUNDS

Under control of Joint-Stock Company "Solid Management" are 4 share investment funds:

• Open share investment fund of actions "Solid - Invest"
• Open share investment fund of bonds "Solid"
• Interval share investment fund "Solid Interval"
• Closed share investment fund of the real estate "Solid Real estate"

Formation of the Open index share investment fund begins with May, 15th, 2005 "Solid - Index of the Moscow Interbank Stock Exchange". The minimal sum of investment is 50 000 rubles. More

You can place your means on the share investment funds which are being under control of "Solid Management ".

Funds, under control of "Solid Management" stably enter in top - 10 ratings of National league of managing directors of Russia.

Change of funds cost (%):

Share fund	2001	2001-2002	2001-2003	2001- 2004
Fund of "Solid-Invest" actions	41,55	71,44	160,68	226,68
Fund of the mixed investments "Solid Interval"	31,21	62,42	112,85	168,47
Fund of bonds "Fund of long-term investments Solid" (from 03.06.2002)		4,36	21,55	31,54

The open share investment fund of actions "Solid - Invest"

Interval share investment fund of the mixed investments "Solid Interval"

Open share investment fund of bonds "Fund of long-term investments Solid"

1)

1) Advantages of investment in the Open share investment fund of actions "Solid - Invest":

• High level of prospective profitableness.
• High level of reliability of the operating company (rating NAUFOR).
• High quality of management (on parameters of dynamics of fund’s cost, as well as other funds which are being under control of "Solid Management", stably enters into number of leaders of the market).
• Low level of the minimal sum accepted in payment investment fund.

Strategy of investment of fund is active management of a portfolio of liquid actions ("blue chess pieces") the Russian enterprises. The purpose is reception of the income exceeding a level of profitableness of the share market at an average level of risk. In an investment portfolio the securities having high potential of growth join.

The minimal sum accepted in payment investment funds is1000 (thousand) of rubles

2) Interval share investment fund of the mixed investments "Solid Interval"

Strategy of investment consists in decrease in the risk level inherent in fund of actions, by inclusion in an investment portfolio of tools with the fixed profitableness (the state and corporate bonds). The parity of actions and bonds is defined by a current situation in the market. "Solid Interval" is attractive to investors under the attitude the income/risk.

The minimal sum accepted in payment investment fund is 10 000 (ten thousand) rubles.

Reception of applications for purchase investment funds is carried out annually in following terms:
from January, 18th till January, 31st;
from April, 17th till April, 30th;
from July, 18th till July, 31st;
from October, 18th till October, 31st.

3) Open share investment fund of bonds "Fund of long-term investments Solid"

Strategy of investment in "Fund of long-term investments Solid" consists in reception of the stable income at a low risk level. The investment portfolio of fund consists of the state and corporate bonds of the Russian emitters. Bonds are less subject to fluctuations in the market and are more attractive to the conservative investors preferring long-term investments.

The minimal sum accepted in payment investment fund is 10 000 (ten thousand) rubles.