2008

CYBERPLAT TECHNOLOGY IMPLEMENTATION BENEFITS

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Contents

3. Brief overview

4. CyberPlat’s offer

5. Payment methods

6. Simplified scheme of payment processing

7. Security issues

8. CyberPlat® vs. wide-spread technologies

9. Advantages of CyberPlat® 1

10. Advantages of CyberPlat® 2

11. Benefits of implementing CyberPlat® technology

12. Macroeconomic effect

13. Contact information

Page

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Brief overview

CyberPlat® is the largest, in Russia and the former USSR, universal multi-banking integrated Internet payment system providing the whole spectrum of financial services – from micropayments to interbank settlements.

The Company’s clients are :• over 200 various telecommunications operators including 60 MNO; • retail chains including more than 120 000 payment acceptance points: 90 000 direct payment gateways and around 30 000 sub-dealer outlets – that twice exceeds the total number of all bank offices in Russia;• over 80 banks.

The CyberPlat® System’s financial turnover in 2007 totaled 4 billion 740 million US dollars.

We collect more than 25% revenues of all mobile operators in Russia.

The only licensed, and protected by patents, payment system of Russia.

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Transactions

Currently, CyberPlat processes over 120 million transactions every month – more than the Central bank of Russia, Visa and MasterCard combined, in the Russian Federation.

Number of transactions for 2007 – 1.2 bnOver 400 transactions per second capacity, based on 2007 tests

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CyberPlat®’s offer

CyberPlat is prepared to share: 10 years of successful experience in the top-up market; perfected direct top-up procedures; 10 times more cost-efficient transaction processing compared to

similar companies; proactive expansion strategy; 5 countries of operations; quadruple processing capacity reserve; technical and financial expertise.

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Delivery channels

The CyberPlat® unique payment solutions allow effecting payment acceptance via:

1. Merchant’s cashiers:

• using РСs;

• using cash-registers;

• using POS-terminals;

• using cellular phones supporting Java

2. Via self-service cash-in terminals and ATMs, or other technical means.

The real-time payment execution is facilitated by the capabilities of the CyberPlat payment technology of a new generation.

The CyberPlat technology complies with the rigid security requirements of intercorporate deals, using Electronic Digital Signature mechanisms for protecting electronic documents and verifying the participants’ identity.

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A simplified scheme of payment processing

Service rendered

Settlement Bank

Authorizationrequest

Authorization result

2

7Computer,

Cash register or POS-terminal

6

5

3 4

Invoice signed by the dealer’s EDS

Operator’s response

Transaction result

Payment order

Service rendered

Payment fora service

1

MNO

MNO

MNO

8

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Security issues

• The CyberPlat® System enforces control over each stage of the on-line payment.

• The Electronic Digital Signatures applied by both parties eliminate the risks of fraud and make the personal account top-up transactions, in the operator’s billing system, irrefutable.

• CyberPlat® System enforces complementary registration of all on-line transactions in transaction logs.

• CyberPlat®’s payment acceptance procedures are organized in full compliance with relevant legislative requirements.

• The CyberPlat® System is a closed type system – all participants of financial settlements are rigidly identified.

• The withdrawal of the dealer’s funds from the system, at the will of a cashier, is impossible.

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CyberPlat® vs. wide-spread technologies

Historically, mobile subscriber account top-up developed through sales of virtual scratch-cards, or e-vouchers. Therefore, a mobile subscriber account in the world can be recharged with fixed amounts – 10, 15, 25 USD.

In Russia the top-up business developed in a different way – there, the possibility of account recharge with any amount existed from the very beginning.

The CyberPlat® technology allows flexible topping up mobile phone accounts with any amounts – from USD 0.01 to USD 1000, with the minimal possible step of 1 cent.

Further on we consider the operator’s advantages, which are ensured by the CyberPlat® technology, in comparison with the wide-spread technologies.

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Advantages of CyberPlat® 1

There arose subscribers with ARPU much smaller than the minimal scratch-card value. Issuing a scratch-card with a face value under $3 is unprofitable, whereas CyberPlat® accepts flexible direct top-up payments of less than $1.

Due to that capability, there were attracted 42% of subscribers, whose ARPU is smaller than $3. Similarly, using the CyberPlat® electronic payment technology accepting any amounts anywhere in the world, we project, there will be created at least 20% of new subscribers with low ARPU.

These will be young people and children, who always lack cash. In Russia, by virtue of the CyberPlat® system, new subscribers emerged, who spend 30 cents a month, sufficient for sending SMS-messages.

We expect that, after our technology is implemented, the same type clients will arise worldwide.

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Advantages of CyberPlat® 2

Using the CyberPlat® technology is convenient for cashiers who do not need to return change to customers. For example, if a customer makes a purchase for 7 USD 58 cents, it is not convenient for the cashier to give change of 2 USD 42 cents, and the cashier suggests crediting it to the mobile phone.

Therefore, three parties obtain an additional convenience:

1. Mobile operators receive additional income; 2. Cashiers do not need to keep and issue change;3. Customers do not need to leave the money for tips.

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Based on the above mentioned, we project that the implementation of our technology will:

1. Facilitate an approximately 20% increase in the mobile operators’ subscriber base; 2. Nonetheless, since these subscribers are “light-weight”, the revenue increase will

amount to only 10%; 3. Due to reducing the “silence period”, as well as the expansion of the cash acceptance

network, the revenue of each mobile operator will additionally grow by 5%; 4. Due to the expanded cash acceptance network, the sales volumes of plastic/paper

scratch-cards will diminish – which will lead to an increase in the flexible direct top-up share of the operators’ earnings, adding 2% to the company revenues.

As a result, the mobile operator’s subscriber base will grow by 20% and the revenue – by 17%.

Benefits of Implementing CyberPlat ® Technology

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Macroeconomic effect

According to the study of Deloitte&Touche, a 20% mobile subscriber base increase leads to a 2.4% growth of the country’s GDP, as it is well-known that the development of telecommunications serves a driver of economic growth.

It is important to point out that the economic effect is achieved not so much via economic factors, but due to emerging new subscribers.

*According to Deloitte, a 10% increase in mobile penetration, i.e. the subscriber base, leads to a rises of the Gross Domestic Product by 1.2%. (Data published by GSM World Association: http://www.gsmworld.com/news/press_2007/press07_25.shtml)

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Contact information

Andrey Gribov, Director General

CYBERPLAT OJSCAddress: World Trade Center, ent. 7

Moscow, 123610

Russia

Telephone: +7 (495) 967-02-20

Fax: +7 (495) 967-02-08

Internet: http://www.cyberplat.comE-mail gribov@cyberplat.com