ODD RUSSIA

Sollers plans to reduce net debt by up to 2009 to 20.5 billion rubles. Told CFO Nikolai Sobolev. According to him, currently the company's net debt is 25 billion rubles, and at the end of 2008 this indicator stood at 18.8 billion rubles. Sobolev said that in 2009, 85% of debt will represent long-term loans. CFO Sollers predicted revenues up in 2009 at about 36 billion rubles, the profitability of EBITDA, he said, amount to 5-6%.

Earlier today, Sollers said that the company's net loss for the International Financial Reporting Standards (IFRS) for 2008 totaled $ 38 million compared with net profit 102 million dollars in 2007. Revenues from sales amounted to 2 billion 480 million dollars, whereas in 2007 it amounted to 1 billion 921 million dollars, according to the materials company.