UNITY RE UPGRADED TO ‘BB’ / ‘ruAA’

On August 08, 2011 Standard & Poor's raised a long-term counterparty credit
and financial strength ratings on Unity Re from ‘BB-‘ to 'BB'. The outlook is
stable.

The official rating research updated particularly outlines the stable operating
performance of Unity Re; good competitive advantages and leading position in
Russian and CIS reinsurance markets; recognizable and strongbrand;
adequate capitalization and reserving, and also good reinsurance protection.

The full version of the rating research update is available on the official sites
of Standart & Poor’s (www.standardandpoors.com) and Unity Re
(www.unityre.com).

Unity Re has been cooperating with Standard & Poor’s since 2005 when the
reinsurer became one of the first Russian insurance market players obtaining a
rating from the agency (‘B+’ level was assigned). In September 2008, Unity Re
obtained ‘BB-‘ / ‘ruAA-‘ rating with stable outlook. A year ago, the outlook was
enhanced to positive.