OJSC URALVAGONAVOD AND ELECTRO-MOTIVE DIESEL SIGN A MEMORANDUM OF UNDERSTANDING TO CONSIDER OPPORTUNITIES FOR MAINLINE LOCOMOTIVES IN RUSSIA

OJSC NPK UralVagonZavod (UVZ), a leading railway industry manufacturing corporation, has signed a Memorandum of Understanding with Electro-Motive Diesel, Inc. (EMD), a leading manufacturer of diesel-electric locomotives, to examine potential opportunities for the development and build out of mainline locomotives in Russia. Per the MOU, the companies anticipate having demonstration units in Russia for performance and certification testing in 2014.

The MOU also addressed the consideration of a joint engineering team to potentially develop a mainline locomotive model at 4500 BHP using an EMD AC transmission system, EMD 16-710 engine and other EMD service proven components, technologies and designs. EMD and UVZ will also examine adopting a goal to achieve 50 percent local content in Russia for the locomotive build program.

The manufacture of modern, mainline freight locomotives on Russian territory would bring opportunities for incorporating the latest EMD natural gas technologies.

EMD locomotives operate globally on railways in all climate zones, with proven reliability and relatively low lifecycle cost. The companies are working toward signing a definitive agreement in the coming months.

RUSSIA AND VIETNAM FACILITATE COOPERATION

OJSC “RPC “URALVAGONZAVOD” intends to participate in joint construction of a plant for rolling stock assembly in Vietnam.

A Memorandum of Cooperation between Vietnam-Russia Joint Venture Bank and OJSC “Research and Production Corporation “URALVAGONZAVOD” was signed in the presence of the President of the Russian Federation Vladimir Putin and the President of the Socialist Republic of Vietnam Truong Tan Sang on November 12, 2013 in Hanoi, Vietnam. The key point of the Memorandum is facilitating implementation of joint investment projects of UVZ within the territory of Vietnam and bank servicing of these projects by the Vietnam-Russia Joint Venture Bank.

On behalf of the UVZ Corporation the Memorandum has been signed by CEO Mr. Oleg Sienko and on behalf of Vietnam-Russia Joint Venture Bank – CEO Mr. Doan Minh Tien.