Holding(s) in Company

JPMorgan Russian Securities PLC
04 May 2006


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

     JPMORGAN RUSSIAN SECURITIES PLC


2)   Name of shareholder having a major interest

     CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED


3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18
     
     NON-BENEFICIAL


4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them

     MELLON UK NOMINEES LTD                   11,427,931
     STATE STREET BANK AND TRUST COMPANY       2,087,038
     THE NORTHERN TRUST COMPANY                  370,000


5)   Number of shares/amount of stock acquired

     N/A


6)   Percentage of issued class

     N/A


7)   Number of shares/amount of stock disposed

     250,000


8)   Percentage of issued class

     0.45%


9)   Class of security

     ORDINARY 1P SHARES


10)  Date of transaction

     3RD MAY 2006


11)  Date company informed

     4TH MAY 2006


12)  Total holding following this notification

     13,884,969


13) Total percentage holding of issued class following this notification

     24.72%


14)  Any additional information

     N/A


15)  Name of contact and telephone number for queries

     CHRIS LEGG  020 7742 3477


16)  Name and signature of authorised company official responsible for
     making this notification
     
     HILARY LOWE


17)  Date of notification:

     4TH MAY 2006





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