Consolidated statement of changes in equity

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2011 (In millions of Russian Rubles)
  Notes Share capital Additional paid-in capital Treasury shares Retained earnings Total
Balance as at 31 December 2009   1,798 4,576 - 2,385 8,759
Recognition of share-based payment for ordinary shares previously issued 29 - - - 86 86
Dividends declared   - - - (413) (413)
Shares buy back 14 - - (588) - (588)
Total comprehensive income for the year   - - - 2,221 2,221
Balance as at 31 December 2010   1,798 4,576 (588) 4,279 10,065
Recognition of share-based payment for ordinary shares previously issued 29 - - - 79 79
Dividends declared 14 - - - (691) (691)
Total comprehensive income for the year   - - - 3,374 3,374
Balance as at 31 December 2011   1,798 4,576 (588) 7,041 12,827

The Notes form an integral part of these consolidated financial statements. The independent auditor’s report is presented here.

Signed on behalf of the Board of Directors: 29 March 2012.

Signature

Signature

A. Tynkovan C. Parks
President Chief Financial Officer