"A leap in quality is only possible with a very strong partner. And Sberbank of Russia is the largest bank in Eastern Europe ," said Evgenia Zavalishina, chair of Yandex.Money's board of directors. "The bank's team has an extensive experience and expertise in finance, along with tens of millions of clients, many of whom do not yet have much online experience. In turn, Yandex, has tens of millions of internet users and an extensive experience in developing highly popular consumer services. By combining efforts, we are aiming to create unique products to meet the growing needs of all consumers." The deal is expected to close in the first quarter of 2013. At this time all the key terms and conditions have been agreed and the timeline for closing the deal is subject to standard conditions precedent to similar deals being satisfied, including the receipt of required regulatory approvals. Advisors to Sberbank on the deal: Sberbank CIB (financial advisor), White&Case (legal counsel), KPMG (financial, tax, commercial and IT due diligence). Advisors to Yandex: Morgan Stanley (financial advisor), WilmerHale and Laseta Partners (legal counsel).Yandex (Nasdaq:YNDX) is one of Europe's largest internet companies providing the world with search and online services one market at a time. Yandex's mission is to help users solve their everyday problems by building people-centric products and services. Based on innovative technologies, the company offers the most relevant, locally tailored experience on all digital platforms and devices. Yandex is the leading internet search service in Russia with 60.2% of the country's search market (according to LiveInternet, November 2012) and a monthly audience of 50.4 million (according to comScore, October 2012). Yandex also operates in Turkey, Ukraine, Belarus and Kazakhstan. More information on Yandex can be found at http://company.yandex.com .
CONTACT: Investor Relations Dmitry Barsukov, Katya Zhukova Phone: +7 495 739-70-00 E-mail: askIR@yandex-team.ru US Investor Contact The Blueshirt Group, for Yandex Alex Wellins Phone: +1 415 217-58-61 E-mail: firstname.lastname@example.org Media Relations Ochir Mandzhikov, Dina Litvinova Phone: +7 495 739-70-00 E-mail: email@example.com