SIGNING OF THE COOPERATION AGREEMENT

At the 6^th International Business Summit in Nizhny Novgorod, the Government of the Nizhny Novgorod Region and ZAO Intrast NN signed an agreement on cooperation in the implementation of the investment project for the construction of a Retail and Logistics complex that includes the construction of the Leroy Merlin hypermarket.

The head of the region, Valery Shantsev, and the general director of ZAO Intrast NN, Vladimir Lyapunov, affixed their signatures.

The parties recognized mutual interest in expanding economic cooperation.

The project will create employment opportunities for more than 1500 persons and the total amount of investments can reach 10 billion rubles.

Vladimir Lyapunov said that it would become possible for the company to receive tax benefits in some areas through an agreement with the regional government.

The Government of the Nizhny Novgorod region recognizes the potential importance of the agreement and considers the possibility of giving the object the status of a priority investment project.