Interros places LMZ, Elektrosila, ZTL and KTZ – all machine building assets – under the OJSC Power Machines consortium. The Consortium runs an IPO among Russian and Western portfolio investors the same year, placing a 17% stake in the Consortium for over $44 mln. Many investors, including ten European investment funds, acquire the shares. Interros creates NOVOGOR-Prikamye, a utilities management project in Perm Oblast, the first private project in the utilities sector in a Russian city with over one mln people. Rosbank adopts a new strategic development plan to provide retail banking services on top of corporate banking. Within the framework of its strategy, Interros acquires 350 branches of Pervoe OVK for $200 mln.