Holding(s) in Company

JPMorgan Russian Securities PLC
22 June 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                   11,767,931
STATE STREET BANK AND TRUST COMPANY       2,092,034
THE NORTHERN TRUST COMPANY                  420,000
NATIONAL AUSTRALIA BANK                     260,000
CITIBANK                                    125,000



5)   Number of shares/amount of stock acquired

NOT DISCLOSED


6)   Percentage of issued class

NOT DISCLOSED

7)   Number of shares/amount of stock disposed

N/A

8)   Percentage of issued class

N/A

9)   Class of security

ORDINARY 1P SHARES

10)  Date of transaction

NOT DISCLOSED

11)  Date company informed

22ND JUNE 2006

12)  Total holding following this notification

14,664,965






13) Total percentage holding of issued class following this notification

26.18%

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:



22ND JUNE 2006






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