Holding(s) in Company

JPMorgan Flem Russian Secs PLC
07 February 2006

                                  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

NOT DISCLOSED

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

NOT DISCLOSED

8)   Percentage of issued class

NOT DISCLOSED

9)   Class of security

ORDINARY 1P SHARES

10)  Date of transaction

NOT DISCLOSED

11)  Date company became aware of holding

6 February 2006

12)  Total holding following this notification

8,021,052

13)  Total percentage holding of issued class following this notification

14.28%

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

 Date of notification: 7th FEBRUARY 2006



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