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Press releases | Archive 2004

State Duma repeals advertising tax

State Duma repeals advertising tax

"We are encouraged by the ongoing change," said RBC Chairman & CEO German Kaplun. - "The advertising tax was an important psychological factor that curbed the advertising spending in Russia. We expect the cancellation of this tax to contribute to further growth in the RBC's advertising business."

According to the Association of Russian Communications Agencies, the size of the Russian advertising market reached about $670m to $700m in the first quarter of 2004, having increased by 25% to 30% against the corresponding period of 2003. The highest growth rate was registered in the television segment of the advertising market and amounted to 35%; the average growth rate in other key segments was 20% to 25%.

About RBC

RBC Information Systems (RTS, MICEX: RBCI) is a leading Russian media and information technology group. The audited aggregate revenue of the group grew 54% and reached $48.5m in 2003. RBC's media business comprises the "RosBusinessConsulting" information agency, the RBC business television channel created in cooperation with CNN and CNBC, and Internet portals such as www.rbc.ru; www.cnews.ru; www.autonews.ru; www.rbcdaily.ru; www.utro.ru. Within the framework of rendering media services, RBC is also involved in advertising activities; it places advertising on its own resources as well as on other advertising platforms. RBC's IT business provides turnkey solutions created in-house and developed by leading global IT companies, carries our system integration, and develops software for a variety of local and international clients through general and offshore programming.

Press and investor contacts:
Tel: +7 (495) 363-1111
Email: pr@rbc.ru
Web: www.rbcholding.com