Holding(s) in Company

JPMorgan Russian Securities PLC
02 January 2007

                                  SCHEDULE 10


                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1)   Name of company


JPMORGAN RUSSIAN SECURITIES PLC

2)   Name of shareholder having a major interest

PUDDLE DOCK NOMINEES 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

IN RESPECT OF 2 ABOVE AND NON- BENEFICIAL

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

PUDDLE DOCK NOMINEES LIMITED



5)   Number of shares/amount of stock acquired

NOT NOTIFIED


6)   Percentage of issued class


NOT NOTIFIED


7)   Number of shares/amount of stock disposed

NOT NOTIFIED


8)   Percentage of issued class

NOT NOTIFIED



9)   Class of security

ORDINARY 1P SHARES



10)  Date of transaction

N/A

11)  Date company became aware of holding

N/A

12)  Total holding following this notification

1,739,096


13)  Total percentage holding of issued class following this notification

3.10%

14)  Any additional information

JPMorgan Russian Securities plc announces that JPMorgan Equity Plan Managers
Limited has a notifiable interest in 1,739,096 ordinary shares, being 3.10 per
cent. of the issued share capital of the Company. These shares are held on
behalf of participants in the JPMorgan investment trust savings products.
JPMorgan Equity Plan Managers Limited has a notifiable interest in these shares
because, in certain circumstances and subject to certain limitations agreed with
the Takeover Panel to ensure compliance with the Takeover Code, JPMorgan is
entitled to exercise the voting rights attached to these shares if the relevant
plan participants do not do so.

15)  Name of contact and telephone number for queries

CHRIS LEGG    020 7742 3453

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



HILARY LOWE

 Date of notification: 2ND JANUARY 2007




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