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JPMorgan Flem.Russ (JFR)

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Wednesday 13 April, 2005

JPMorgan Flem.Russ

Holding(s) in Company

JPMorgan Flem Russian Secs PLC
13 April 2005

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1)   Name of company

JPMORGAN FLEMING RUSSIAN SECURITIES PLC

2)   Name of shareholder having a major interest

LAZARD ASSET MANAGEMENT LLC


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 INTEREST

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

THE EMERGING WORLD INVESTORS LIMITED PARTNERSHIP
HOWARD HUGHES MEDICAL INSTITUTE
ITT LAZARD EMERGING GROWTH
LGA EMERGING WORLD FUND
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO
SCOTTISH & ENGLISH INVESTORS
SCRIPPS COLLEGE
THE WORLD TRUST FUND

THE AMOUNT OF SHARES HELD BY EACH OF THE ABOVE HAS NOT BEEN DISCLOSED.


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

NOT DISCLOSED


8)   Percentage of issued class

NOT DISCLOSED


9)   Class of security

ORDINARY 1P SHARES

10)  Date of transaction

7TH APRIL 2005

11)  Date company informed

12TH APRIL 2005

12)  Total holding following this notification

11,142,124

13)  Total percentage holding of issued class following this notification

19.8%

14)  Any additional information

N/A

15)  Name of contact and telephone number for queries

JENNIFER PALMER      020 7742 3458

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



PHILIP JONES

 Date of notification: 13th APRIL 2005




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