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Russia GMI Sales Note Disclaimer

This marketing communication is issued and approved by OOO Merrill Lynch Securities. This communication is not for distribution to the public or a large number of persons, but is personal to named recipients. All recipients are persons who have professional experience in matters relating to investments, such persons being referred to as "relevant persons". This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is only available to relevant persons and will be engaged in only with relevant persons.

The material in this marketing communication is not investment research or a research recommendation and has accordingly not been prepared in accordance with any requirements designed to promote the independence of investment research nor is it subject to any dealing prohibition on dealing ahead of the dissemination of investment research. This material has been compiled by Merrill Lynch (ML) sales and trading and marketing personnel from various publicly available news sources, including newspapers and news services. It is not intended to be a comprehensive summary of newsworthy business or economic events nor is it a substitute for ML economic or fundamental Research and it may not be relied upon as such. The information has not been reviewed or approved by or in conjunction with ML Research. To the extent that the information in this communication reflects the views of ML or its affiliates, this information and views expressed are subject to change without notice to you. Although the information set out in this marketing communication is obtained from sources believed to be reliable, ML does not guarantee its accuracy or completeness.

The information in this marketing communication does not constitute an offer, solicitation or recommendation for the purchase or sale of any securities or other financial instruments nor does it constitute advice, a personal recommendation or otherwise or an expression of our view as to whether a particular security or financial instrument is suitable or appropriate for you and meets your financial or any other objectives. This information is not based on the particular circumstances of any named recipient.

Companies within the ML group may have a position and/or trade for their own accounts as odd-lot dealer, market maker, block positioner, specialist, liquidity maker and/or arbitrageur in any securities of issuers mentioned herein or in related investments and also may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any entity mentioned herein.

This material is not intended for further dissemination, may not be disseminated to other parties, and is not to be distributed to nor to be read by private or retail clients. Copyright 2008 Merrill Lynch & Co.