<p align="left">MOSCOW, Russia, and AMSTERDAM, the Netherlands, July 28, 2016 (GLOBE
                NEWSWIRE) -- Yandex
                (NASDAQ:YNDX),
                one of Europe's largest internet companies and the leading search
                provider in Russia, today announced its unaudited financial results for
                the second quarter ended June 30, 2016.<br></p>
<h2>Q2 2016 Consolidated Financial Highlights(1)(2)</h2>
<ul type="disc">
    <li><strong>Revenues</strong> of RUB 18.0 billion ($280.7 million), up 30% compared
                                  with Q2 2015
    </li>
    <li><strong>Adjusted EBITDA </strong>of RUB 6.8 billion ($105.2 million), up 40%
                                         compared with Q2 2015, <strong>adjusted EBITDA
                                                                        margin </strong>of
                                         37.5%
    </li>
    <li><strong>Adjusted net income</strong> of RUB&nbsp;3.9 billion ($60.8 million), up
                                             40% compared with Q2 2015, <strong>adjusted
                                                                                net
                                                                                income
                                                                                margin </strong>of
                                             21.7%
    </li>
    <li><strong>Cash, cash equivalents, term deposits and short-term investments in debt
                securities </strong>of RUB 62.9 billion ($978.5 million) as of June 30,
                                    2016
    </li>
</ul>
<h2>Q2 2016 Operational and Corporate Highlights</h2>
<ul type="disc">
    <li><strong>Share of Russian search market</strong> (including mobile) averaged
                                                        57.0% in Q2 2016 compared to
                                                        57.6% in Q1 2016 (according to
                                                        LiveInternet)
    </li>
    <li><strong>Search queries</strong> in Russia grew 7% compared with Q2 2015</li>
    <li>Launched <strong>Zen</strong>, personalized content recommendation tool, within
        Yandex Browser
    </li>
</ul>
<p>“We posted strong results in Q2'16 with notable contributions from our Taxi, Market,
   and Classifieds business units,” said Arkady Volozh, Chief Executive Officer of
   Yandex. “Our expertise in data analysis and AI is fueling advances in ad targeting
   and driving the adoption of personalized products, such as Yandex Zen, by users in
   Russia and abroad.”</p>
<p>“I am proud of our accomplishments across all the segments in Q2,” said Alexander
   Shulgin, Chief Operating Officer of Yandex. “Our focus on mobile resulted in
   significant improvements in mobile monetization, and Yandex share on Android devices
   started to grow again in late June as a result of new distribution deals following
   the favorable FAS ruling in our case against Google.”</p>
<p>The following table provides a summary of our key <strong>consolidated financial
                                                             results</strong> for the
   three months and six months ended June 30, 2015 and 2016:</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>

    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid hugin">
                                                    <strong><em><strong><em>&nbsp;</em></strong></em></strong></td>                                        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Revenues
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            13,920&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            18,040&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>30%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            26,259&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            34,513</td>
        <td
                class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin"><em>31%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Ex-TAC revenues<sup><em>2</em></sup></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            10,898&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            14,486&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>33%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            20,520&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            27,569&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>34%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Income from operations
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            2,196&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            3,517&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>60%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            3,682&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            5,957&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>62%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Adjusted EBITDA<sup>2</sup></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            4,817&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            6,762&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            8,388&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            12,532&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>49%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Net income
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            423&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            2,058&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>387%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            2,550&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            3,127&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>23%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Adjusted net income<sup>2</sup></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            2,791&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            3,906&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            5,040&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            7,074&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>
    </tr>
</tbody>
</table>
<span><sup>1</sup>&nbsp;Pursuant to SEC rules regarding convenience translations,
                  Russian
               ruble (RUB) amounts have been translated into U.S. dollars at a rate of
               RUB 64.2575 to $1.00, the official exchange rate quoted as of June 30,
               2016 by the Central Bank of the Russian Federation.</span>
<br>
<span><sup>2</sup>&nbsp;The following measures presented in this release are “non-GAAP
               financial measures”: ex-TAC revenues; adjusted EBITDA; adjusted EBITDA
               margin; adjusted ex-TAC EBITDA margin; adjusted net income; adjusted net
               income margin and adjusted ex-TAC net income margin. Please see the
               section headed “Use of Non-GAAP Financial Measures” below for a
               discussion of how we define these measures, as well as reconciliations at
               the end of this release of each of these measures to the most directly
               comparable U.S. GAAP measures.</span>
<br>
<br>
<p><strong>Consolidated revenues breakdown</strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_align_left gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>

    <tr>
        <td class="gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Online Advertising Revenues:
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td><td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_label_i25 hugin">
            <em>Yandex websites</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            10,110&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            12,562&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>24%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            19,079&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            23,966&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>26%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_label_i25 hugin">
            <em>Advertising network</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            3,451&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            4,740&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>37%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            6,545&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            9,168&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Total online advertising revenues
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            13,561&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            17,302&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>28%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            25,624&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            33,134&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>29%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Other
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            359&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            738&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>106%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            635&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            1,379&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>117%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Total revenues
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            13,920&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            18,040&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>30%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            26,259&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            34,513&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>31%</em></td>
    </tr>
</tbody>
</table>
<p><strong>Online advertising revenues</strong> grew 28% compared with Q2 2015 and
                                                continued to drive overall top-line
                                                performance, contributing 96% of total
                                                revenues in Q2 2016. Online advertising
                                                revenues include revenues derived from
                                                text-based and display advertising on
                                                Yandex websites and in our ad
                                                network.<br></p>
<p><strong>Online advertising revenues from Yandex websites</strong> increased 24%
                                                                     compared with Q2
                                                                     2015 and accounted
                                                                     for 70% of total
                                                                     revenues during Q2
                                                                     2016.</p>
<p><strong>Online advertising revenues from our ad network</strong> increased 37%
                                                                    compared with Q2
                                                                    2015 and contributed
                                                                    26% of total
                                                                    revenues during Q2
                                                                    2016, 150 basis
                                                                    points higher than
                                                                    in Q2 2015, but 60
                                                                    basis points lower
                                                                    than in Q1 2016.</p>
<p><strong>Other revenues</strong> grew 106% compared with Q2 2015, and were mainly
                                   driven by the growth of Yandex.Taxi revenues.</p>
<p><strong>Paid clicks</strong> on Yandex’s and its partners’ websites, in aggregate,
                                increased 13% compared with Q2 2015.</p>
<p>Our average <strong>cost per click</strong> grew 14% compared with Q2 2015.</p>
<p><strong>Segment revenues:</strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
                                                    &nbsp;
                                                </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Revenues:
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Search and Portal&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">13,107
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">16,532
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>26%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">24,727
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">31,679
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>28%</em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            E-commerce&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">730
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">1,069
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>46%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">1,401
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">2,112
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>51%</em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Taxi
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">194
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">528
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>172%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">355
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">973
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>174%</em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Classifieds
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">211
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">313
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>48%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">390
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">554
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>42%</em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Experiments
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">94
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">153
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>63%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">193
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">338
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>75%</em></td>
    </tr>
    <tr>
        <td class="gnw_label_i25 gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Eliminations
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">(416)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">(555)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>33%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">(807)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">(1,143)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>42%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Total Revenues
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">13,920
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">18,040
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>30%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">26,259
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">34,513
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>31%</em></td>
    </tr>
</tbody>
</table>
<p><em>Search and Portal segment includes all our services offered in Russia, Ukraine,
       Belarus and Kazakhstan, other than those, described below;</em><br><em>E-commerce
                                                                              segment
                                                                              includes
                                                                              our
                                                                              Yandex.Market
                                                                              service;</em><br><em>Taxi
                                                                                                   segment
                                                                                                   includes
                                                                                                   our
                                                                                                   Yandex.Taxi
                                                                                                   service;</em><br><em>Classifieds
                                                                                                                        segment
                                                                                                                        includes
                                                                                                                        Auto.ru,
                                                                                                                        Yandex.Realty,
                                                                                                                        Yandex.Jobs
                                                                                                                        and
                                                                                                                        Yandex.Travel;</em><br><em>Experiments
                                                                                                                                                   segment
                                                                                                                                                   includes
                                                                                                                                                   Media
                                                                                                                                                   Services
                                                                                                                                                   (including
                                                                                                                                                   KinoPoisk,
                                                                                                                                                   Yandex.Music,
                                                                                                                                                   Yandex.Radio,
                                                                                                                                                   Yandex.Tickets,
                                                                                                                                                   Yandex.Afisha
                                                                                                                                                   and
                                                                                                                                                   Yandex
                                                                                                                                                   TV
                                                                                                                                                   program),
                                                                                                                                                   Yandex
                                                                                                                                                   Data
                                                                                                                                                   Factory,
                                                                                                                                                   Discovery
                                                                                                                                                   services,
                                                                                                                                                   including
                                                                                                                                                   Yandex
                                                                                                                                                   Zen
                                                                                                                                                   and
                                                                                                                                                   Yandex
                                                                                                                                                   Launcher,
                                                                                                                                                   and
                                                                                                                                                   Search
                                                                                                                                                   and
                                                                                                                                                   Portal
                                                                                                                                                   in
                                                                                                                                                   Turkey.</em><br><em>Eliminations
                                                                                                                                                                       represent
                                                                                                                                                                       the
                                                                                                                                                                       elimination
                                                                                                                                                                       of
                                                                                                                                                                       transaction
                                                                                                                                                                       results
                                                                                                                                                                       between
                                                                                                                                                                       the
                                                                                                                                                                       reportable
                                                                                                                                                                       segments,
                                                                                                                                                                       primarily
                                                                                                                                                                       related
                                                                                                                                                                       to
                                                                                                                                                                       advertising.</em>
</p>
<p><strong>Consolidated Operating Costs and Expenses</strong></p>
<p>Yandex’s operating costs and expenses consist of cost of revenues, product
   development expenses, sales, general and administrative expenses (SG&amp;A), and
   depreciation and amortization expenses (D&amp;A). Apart from D&amp;A, each of the
   above expense categories includes personnel-related costs and expenses, relevant
   office space rental, and related share-based compensation expense. Increases across
   all cost categories reflect investments in overall growth. The total number of
   full-time employees was 5,559 as of June 30, 2016 – a net increase of 95 employees
   compared with March 31, 2016. Our headcount is up 2% from March 31, 2016, and up 2%
   from June 30, 2015.</p>
<p><strong>Costs of revenues, including traffic acquisition costs (TAC)</strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>

    <tr>
        <td class="gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            TAC:
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Related to the Yandex ad network
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,113
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,641
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>25%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,979
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            5,136
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>29%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Related to distribution partners
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            909
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            913
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>0%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,760
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,808
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>3%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Total TAC
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,022
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,554
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>18%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            5,739
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,944
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>21%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Total TAC as a % of total revenues</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>21.7%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>19.7%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>21.9%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>20.1%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Other cost of revenues
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            960
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,142
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>19%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,956
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,256
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>15%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Other cost of revenues as a % of revenues</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>6.9%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>6.3%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>7.4%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>6.5%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Total cost of revenues
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,982
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,696
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>18%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            7,695
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            9,200
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>20%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Total cost of revenues as a % of revenues</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>28.6%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>26.0%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>29.3%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>26.7%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>
    </tr>
</tbody>
</table>
<p>TAC grew 18% compared with Q2 2015 and represented 19.7% of total revenues in Q2
   2016. This is 200 basis points lower than in Q2 2015 and 90 basis points lower than
   in Q1 2016. The slowdown in the growth of partner TAC was mostly due to changes in
   partner revenue mix and improvement in revenue sharing terms with some of our
   partners.</p>
<p><strong>Other cost of revenues</strong> in Q2 2016 increased 19% compared with Q2
                                           2015.</p>
<p><strong>Product development</strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>

    <tr>
        <td class="gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <em>Change</em></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Product development
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,300
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,794
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>15%</em></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,647
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            7,671
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>15%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>As a % of revenues</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>23.7%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>21.1%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>25.3%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>22.2%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>
    </tr>
</tbody>
</table>
<p>Growth in product development costs in Q2 2016 primarily related to salary increases
   in early 2016 and increase in share-based compensation expense as described
   below.</p>
<p><strong>Sales, general and administrative (SG&amp;A)</strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Sales, general and administrative
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,568
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,717
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>45%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,871
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,975
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>43%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>As a % of revenues</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>18.4%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>20.6%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>18.5%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>20.2%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>
    </tr>
</tbody>
</table>
<p>SG&amp;A costs increased 45% compared to Q2 2015 as a result of growth in advertising
   and marketing expenses, aimed to support our segments, such as Taxi, e-Commerce and
   Classifieds.</p>
<p><strong>Share-based compensation (SBC) expense </strong></p>
<p>SBC expense is included in each of the cost of revenues, product development, and SG&amp;A
   categories discussed above.</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>

    <tr>
        <td class="gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            SBC expense included in cost of revenues
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            41
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            46
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>12%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            84
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            95
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>13%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            SBC expense included in product development
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            395
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            545
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>38%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            774
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,140
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>47%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            SBC expense included in SG&amp;A
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            158
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            290
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>84%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            296
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            537
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>81%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Total SBC expense
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            594
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            881
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>48%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,154
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,772
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>54%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>As a % of revenues</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>4.3%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>4.9%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>4.4%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>5.1%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>
    </tr>
</tbody>
</table>
<p>Total SBC expense increased 48% in Q2 2016 compared with Q2 2015. The increase is
   related to the material appreciation of the U.S. dollar in Q2 2016 versus Q2 2015 and
   to new equity-based grants made in 2015 and 2016.</p>
<p><strong>Depreciation and amortization (D&amp;A) expense</strong></p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td
                class="gnw_border_bottom_solid gnw_border_right_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Depreciation and amortization
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,874
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,316
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>24%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,364
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,710
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>As a % of revenues</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>13.5%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>12.8%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>12.8%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>13.6%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>&nbsp;</em></td>
    </tr>
</tbody>
</table>
<p>D&amp;A expense increased 24% in Q2 2016 compared with Q2 2015. D&amp;A expense grew
   significantly slower than in previous quarters, reflecting lower investments in new
   servers, compared with previous year.</p>
<p>As a result of the factors described above,<strong> income from operations</strong>
   was RUB 3.5 billion ($54.7 million) in Q2 2016, a 60% increase from Q2 2015.</p>
<p><strong>Adjusted EBITDA</strong></p>
<p>Consolidated adjusted EBITDA</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Adjusted EBITDA
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            4,817&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            6,762&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            8,388&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            12,532&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>49%</em></td>
    </tr>
</tbody>
</table>
<p>Adjusted EBITDA by segments</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td
                class="gnw_border_bottom_solid  gnw_border_right_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
                                                    </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Adjusted EBITDA:
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_label_i25 hugin">
            Search and Portal
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,897
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,927
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>41%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8,482
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            12,838
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>51%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_label_i25 hugin">
            E-commerce
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            411
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            325
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-21%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            804
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            705
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-12%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_label_i25 hugin">
            Taxi
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            50
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (153)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-406%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            137
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (153)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-212%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_label_i25 hugin">
            Classifieds
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            67
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            23
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-66%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            77
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            17
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-78%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_label_i25 hugin">
            Experiments
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (608)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (360)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>41%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (1,112)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (875)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>21%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Total adjusted EBITDA
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,817
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,762
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8,388
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            12,532
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>49%</em></td>
    </tr>
</tbody>
</table>
<p><strong>Interest income, net</strong> in Q2 2016 was RUB 437 million, up from RUB 356
                                         million in Q2 2015.<br></p>
<p><strong>Foreign exchange loss</strong> in Q2 2016 was RUB 958 million, compared with
                                          a foreign exchange loss of RUB 1,869 million
                                          in Q2 2015. This loss reflects the
                                          appreciation of the Russian ruble during Q2
                                          2016 from RUB 67.6076 to $1.00 on March 31,
                                          2016, to RUB 64.2575 to $1.00 on June 30,
                                          2016. Yandex's Russian operating subsidiaries'
                                          functional currency is the Russian ruble, and
                                          therefore changes due to exchange rate
                                          fluctuations in the ruble value of these
                                          subsidiaries' monetary assets and liabilities
                                          that are denominated in other currencies are
                                          recognized as foreign exchange gains or losses
                                          within Other loss, net line in the condensed
                                          consolidated statements of income. Although
                                          the U.S. dollar value of Yandex's U.S.
                                          dollar-denominated assets and liabilities was
                                          not impacted by these currency fluctuations,
                                          they resulted in a downward revaluation of the
                                          ruble equivalent of these U.S.
                                          dollar-denominated monetary assets and
                                          liabilities in Q2 2016.</p>
<p><strong>Income tax expense </strong>for Q2 2016 was RUB 1,054 million, up from RUB
                                       342 million in Q2 2015. Our effective tax rate of
                                       33.9% in Q2 2016 was lower than in Q2 2015.
                                       Adjusted for SBC expense, our effective tax rate
                                       for Q2 2016 was 26.4%, compared with 22.7% in
                                       2015 as adjusted for SBC expense and one-off
                                       effects in 2015. The increase in the adjusted
                                       effective tax rate was primarily driven by some
                                       provisions that we have taken related to certain
                                       past tax audits and a change in the contributions
                                       to our earnings before tax from different
                                       jurisdictions.</p>
<p><strong>Adjusted net income </strong>in Q2 2016 was RUB 3.9 billion ($60.8 million),
                                        a 40% increase from Q2 2015.</p>
<p><strong>Adjusted net income margin</strong> was 21.7% in Q2 2016, compared with 19.2%
                                               in Q1 2016 and 20.1% in Q2 2015.</p>
<p><strong>Net income</strong> was RUB 2.1 billion ($32.0 million) in Q2 2016, up 387%
                               compared with Q2 2015 when our net income was adversely
                               affected by a weak macroeconomic environment, and
                               increased operating expenses as a result of ruble
                               depreciation.</p>
<p>As of June 30, 2016, Yandex had<strong> cash, cash equivalents, term deposits and
                                           short-term investments in debt
                                           securities </strong>of RUB 62.9 billion
   ($978.5 million).</p>
<p><strong>Net operating cash flow </strong>for Q2 2016 was an inflow of RUB 8.3 billion
                                            ($129.3 million) and<strong> capital
                                                                         expenditures</strong>
                                            were RUB 2.5 billion ($38.7 million).</p>
<p>In Q2 2016, there were no repurchases of our <strong>1.125% convertible senior
                                                        notes</strong> due 2018.</p>
<p>The <strong>total</strong> <strong>number of shares issued and outstanding</strong>
   as of June 30, 2016 was 320,930,459, including 275,332,489 Class A shares, 45,597,969
   Class B shares, and one Priority share and excluding 9,126,295 Class A shares held in
   treasury and all Class C shares outstanding solely as a result of the conversion of
   Class B shares into Class A shares; all such Class C shares will be cancelled. There
   were also employee share options outstanding to purchase up to an additional 3.0
   million shares, at a weighted average exercise price of $5.15 per share, all of
   which, excluding options for approximately 2,000 shares, were fully vested;
   equity-settled share appreciation rights (SARs) for 0.2 million shares, at a weighted
   average measurement price of $29.59, all of which, excluding SARs for approximately
   6,000 shares, were fully vested; and restricted share units (RSUs) covering 8.2
   million shares, of which RSUs to acquire 2.1 million shares were fully vested.</p>
<p>In May 2016, we offered the non-executive directors an opportunity to exchange their
   outstanding share option awards for new RSUs awards, based on an exchange ratio of
   2:1. The replacement RSUs are subject to an additional 12-month vesting period beyond
   the original vesting schedule of the exchanged options. In addition, no exercise of
   the replacement RSUs will be permitted for a 12-month period starting the date of
   exchange. As a result of the exchange, 7 directors exchanged 196,000 share options
   for an aggregate of 98,000 RSUs in Q2 2016. This exchange is reflected in the
   outstanding equity award numbers as of June 30, 2016 set out above.</p>
<p><em>Please note, that historical information on revenues and adjusted EBITDA of our
       segments is provided in the supplementary slides accompanying our Q2 2016
       earnings release and contains quarterly data for the six quarters from Q1 2015
       through Q2 2016 and annual data for the three years from 2013 through
       2015.&nbsp;</em></p>
<h2>Financial outlook</h2>
<p>Based on our strong H1 2016 results, we are raising revenue gross outlook for the
   calendar year 2016. We now expect our revenue to grow in the range of 19% to 22% in
   2016 compared with 2015.</p>
<p>This outlook reflects our current view, based on the trends that we see at this time,
   and may change in light of market and economic developments in the business sectors
   and jurisdictions in which we operate.</p>
<h2>Conference Call Information</h2>
<p>Yandex’s management will hold an earnings conference call on July 28, 2016 at 8:00 AM
   U.S. Eastern Time (3:00 PM Moscow time; 1:00 PM London time).</p>
<p>To access the conference call live, please dial:</p>
<blockquote><p>US: +1 877 280 2342<br>UK/International: +44 20 3427 1912<br>Russia: 8
               800 500 9311</p>
    <p>Passcode: 697304#</p></blockquote>
<p>A replay of the call will be available until August 3, 2016. To access the replay,
   please dial:</p>
<blockquote><p>US: +1 866 932 5017, <br>UK/International: +44 20 3427 0598 <br>Russia:
               810 800 2870 1012<br>Passcode: 697304#</p></blockquote>
<p>A live and archived webcast of this conference call will be available at</p>
<p>
    <a href="https://www.globenewswire.com/Tracker?data=fJlVzH2JGLkM6KVqi_0GsiHnjd2oqnpZT8Xl7FzyLvu7xkJOMKLorWwlfLojXPBdz4dAlroL0Dz4ZXyoiBs--BhIqY0Ba95x61EYsx3BuhAiqWDlGudgtmK3ezIaoZMfQZdjGW4LwSsUyYL4ORLcwqKnQevaj47Dneu4HOCwdRsUKN22tfcCswVGRk7tuAscrCN5IEuJZNL2aWpULLM3B1tzZI5g8EOHl8sIcQpYtSM45GIi8EXV5rZe13ef-pLtUVGMQi-_p3KdbQ2GM8Ax3yaz-XQEUB6TmrIGU1zdWKZtDa0fmMwr7k9C8dX5lkut78uk5vzW7311GQYXR6M6ep83XNoEG_wMNCj7oi05Y38=" rel="nofollow" target="_blank" title="">http://edge.media-server.com/m/p/wvxu8t3a</a>
</p>
<h2>ABOUT YANDEX</h2>
<p>Yandex (NASDAQ:<a href="/News/Listing?symbol=YNDX&amp;exchange=2">YNDX</a>) is one of
   the largest European internet companies, providing a wide variety of search and other
   online services. Yandex’s mission is to help users solve their everyday problems by
   building people-centric products and services. Based on innovative technologies, the
   company provides the most relevant, locally tailored experience on all digital
   platforms and devices. Yandex operates Russia's most popular search engine and also
   serves Ukraine, Belarus, Kazakhstan and Turkey. More information on Yandex can be
   found at
    <a href="https://www.globenewswire.com/Tracker?data=2aX7oftrAY44Dvt3wb2rWJBvzdbeAdsQl5Uqp-y7ja2FDx_pdYTtxhxKaS03G5AEeRjIU0nwn2cfYPPV1Sjd73nafxIxGrVAWHl5kvp1z-Q=" rel="nofollow" target="_blank" title="">https://yandex.com/company</a>.
</p>
<h2>FORWARD-LOOKING STATEMENTS</h2>
<p>This press release contains forward-looking statements that involve risks and
   uncertainties. These include statements regarding our anticipated revenues for
   full-year 2016. Actual results may differ materially from the results predicted or
   implied by such statements, and our reported results should not be considered as an
   indication of future performance. The potential risks and uncertainties that could
   cause actual results to differ from the results predicted or implied by such
   statements include, among others, macroeconomic and geopolitical developments
   affecting the Russian economy, competitive pressures, changes in advertising
   patterns, changes in user preferences, changes in the political, legal and/or
   regulatory environment, technological developments, and our need to expend capital to
   accommodate the growth of the business, as well as those risks and uncertainties
   included under the captions “Risk Factors” and “Operating and Financial Review and
   Prospects” in our Annual Report on Form 20-F for the year ended December&nbsp;31, 2015,
   which is on file with the U.S. Securities and Exchange Commission (SEC) and is
   available on our investor relations website at
    <a href="https://www.globenewswire.com/Tracker?data=fJlVzH2JGLkM6KVqi_0GsoYETkLz8u7S0c3d0ZofT28Td5guqond9L6diAtsTZI-V02ypDdk4MoX4F56bO8my1Ye1L6tEr4ULe_o5inY3JY=" rel="nofollow" target="_blank" title="">http://ir.yandex.com/sec.cfm</a>
   and on the SEC website at
    <a href="https://www.globenewswire.com/Tracker?data=sKXuNIlyNdB_kqcDWOTU6eYFVxFdrhy5F-H517Cvt8uuL2wqQ58nowGoaonY7eNFSJa0z-TFXCxMGzQknZMc9g==" rel="nofollow" target="_blank" title="www.sec.gov">www.sec.gov</a>.
   All information in this release and in the attachments is as of July 28, 2016, and
   Yandex undertakes no duty to update this information unless required by law.</p>
<h2>USE OF NON-GAAP FINANCIAL MEASURES</h2>
<p>To supplement our condensed consolidated financial statements, which are prepared and
   presented in accordance with U.S. GAAP, we present the following non-GAAP financial
   measures: ex-TAC revenues, adjusted EBITDA, adjusted EBITDA margin, adjusted ex-TAC
   EBITDA margin, adjusted net income, adjusted net income margin and adjusted ex-TAC
   net income margin. The presentation of these financial measures is not intended to be
   considered in isolation or as a substitute for, or superior to, the financial
   information prepared and presented in accordance with U.S. GAAP. For more information
   on these non-GAAP financial measures, please see the tables captioned
   “Reconciliations of non-GAAP financial measures to the nearest comparable U.S. GAAP
   measures”, included following the accompanying financial tables. We define the
   various non-GAAP financial measures we use as follows:</p>
<ul type="disc">
    <li><strong>Ex-TAC revenues </strong>means U.S. GAAP revenues less total traffic
                                         acquisition costs (TAC)
    </li>
    <li><strong>Adjusted EBITDA </strong>means U.S. GAAP net income
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">plus</span>
                                         (1) depreciation and amortization, (2) SBC
                                         expense, (3) accrual of expense related to the
                                         contingent compensation that may be payable to
                                         employees in connection with certain business
                                         combinations, (4) other loss, net and (5)
                                         provision for income taxes,
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">less</span>
                                         interest income, net
    </li>
    <li><strong>Adjusted EBITDA margin</strong> means adjusted EBITDA divided by U.S.
                                                GAAP revenues
    </li>
    <li><strong>Adjusted ex-TAC EBITDA margin</strong> means adjusted EBITDA divided by
                                                       ex-TAC revenues
    </li>
    <li><strong>Adjusted net income</strong> means U.S. GAAP net income
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">plus</span>
                                             (1) SBC expense adjusted for the income tax
                                             reduction attributable to SBC expense, (2)
                                             accrual of expense related to the
                                             contingent compensation that may be payable
                                             to certain employees in connection with
                                             certain business combinations, (3)
                                             amortization of debt discount related to
                                             our convertible debt adjusted for the
                                             related reduction in income tax, and (4)
                                             foreign exchange losses adjusted for the
                                             decrease in income tax attributable to the
                                             foreign exchange losses;
        <span data-mce-style="text-decoration: underline;" style="text-decoration: underline;">less</span>
                                             gain from repurchases of our convertible
                                             notes adjusted for the related increase in
                                             income tax
    </li>
    <li><strong>Adjusted net income margin </strong>means adjusted net income divided by
                                                    U.S. GAAP revenues
    </li>
    <li><strong>Adjusted ex-TAC net income margin </strong>means adjusted net income
                                                           divided by ex-TAC revenues
    </li>
</ul>
<p>These non-GAAP financial measures are used by management for evaluating financial
   performance as well as decision-making. Management believes that these metrics
   reflect the organic, core operating performance of the company, and therefore are
   useful to analysts and investors in providing supplemental information that helps
   them understand, model and forecast the evolution of our operating business.</p>
<p>Although our management uses these non-GAAP financial measures for operational
   decision making and considers these financial measures to be useful for analysts and
   investors, we recognize that there are a number of limitations related to such
   measures. In particular, it should be noted that several of these measures exclude
   some costs, particularly share-based compensation, that are recurring. In addition,
   the components of the costs that we exclude in our calculation of the measures
   described above may differ from the components that our peer companies exclude when
   they report their results of operations.</p>
<p>Below we describe why we make particular adjustments to certain U.S. GAAP financial
   measures:</p>
<p><em>TAC</em></p>
<p>We believe that it may be useful for investors and analysts to review certain
   measures both in accordance with U.S. GAAP and net of the effect of TAC, which we
   view as comparable to sales commissions but, unlike sales commissions, are not
   deducted from U.S. GAAP revenues. By presenting revenue, adjusted EBITDA margin and
   adjusted net income margin net of TAC, we believe that investors and analysts are
   able to obtain a clearer picture of our business without the impact of the revenues
   we share with our partners.</p>
<p><em>SBC</em></p>
<p>SBC is a significant expense item, and an important part of our compensation and
   incentive programs. As it is a non-cash charge, however, and highly dependent on our
   share price at the time of equity award grants, we believe that it is useful for
   investors and analysts to see certain financial measures excluding the impact of
   these charges in order to obtain a clearer picture of our operating performance.</p>
<p><em>Acquisition-related costs</em></p>
<p>We may incur expenses in connection with acquisitions that are not indicative of our
   recurring core operating performance. In particular, we are required under U.S. GAAP
   to accrue as expense the contingent compensation that is payable to certain employees
   in connection with certain business combinations. We eliminate these
   acquisition-related expenses from adjusted EBITDA and adjusted net income to provide
   management and investors a tool for comparing on a period-to-period basis our
   operating performance in the ordinary course of operations.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p><em>Foreign exchange gains and losses</em></p>
<p>Because we hold significant assets and liabilities in currencies other than our
   Russian ruble operating currency, and because foreign exchange fluctuations are
   outside of our operational control, we believe that it is useful to present adjusted
   net income and related margin measures excluding these effects, in order to provide
   greater clarity regarding our operating performance.</p>
<p><em>Amortization of debt discount</em></p>
<p>We also adjust net income for interest expense representing amortization of the debt
   discount related to our convertible notes issued in Q4 2013 and Q1 2014.We have
   eliminated this expense from adjusted net income as it is non-cash in nature and is
   not indicative of our ongoing operating performance.</p>
<p><em>Gain from repurchases of convertible debt</em></p>
<p>Adjusted net income for Q2 2015 also excludes a gain from the repurchase of $24.3
   million in principal amount of our 1.125% convertible senior notes due 2018 for
   approximately $21.4 million. We have eliminated this gain from adjusted net income as
   it is not indicative of our ongoing operating performance.</p>
<p>The tables at the end of this release provide detailed reconciliations of each
   non-GAAP financial measure we use to the most directly comparable U.S. GAAP financial
   measure.&nbsp;</p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited Condensed Consolidated Balance Sheets</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars, except share and
                                                        per share data)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="11">
            <strong>As of</strong></td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>December&nbsp;31,</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>June 30,</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>2015*</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>$</strong></td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">
            <strong>ASSETS</strong></td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin" colspan="4">Current
                                                                               assets:
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Cash and cash
                                                                   equivalents
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            24,238
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            29,506
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            459.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Term deposits</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            15,150
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            32,083
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            499.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Investments in debt
                                                                   securities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,915
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,285
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            20.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Accounts receivable,
                                                                   net
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            5,586
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            5,637
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            87.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Prepaid expenses</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,505
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,397
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            21.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Other current
                                                                   assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,835
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,552
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            55.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Total current
                                                                   assets
        </td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            53,229
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            73,460
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,143.2
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Property and
                                                                   equipment, net
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            20,860
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            19,638
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            305.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Intangible assets,
                                                                   net
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            5,988
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,102
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            95.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Goodwill</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8,581
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8,479
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            132.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Long-term prepaid
                                                                   expenses
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,488
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,155
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            18.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Restricted cash,
                                                                   non-current
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            533
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            469
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            7.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Term deposits,
                                                                   non-current
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            18,399
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Investments in
                                                                   non-marketable equity
                                                                   securities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,122
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,435
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            22.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Deferred tax assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            226
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            309
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Other non-current
                                                                   assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,392
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,602
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            24.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin"><strong>TOTAL
                                                                           AS</strong><strong>SETS</strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong><strong>111,818 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong><strong>112,649 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong><strong>1,753.1 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin" colspan="9"><strong>LIABILITIES
                                                                                       AND
                                                                                       SHAREHOLDERS’
                                                                                       EQUITY</strong>
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin" colspan="4">Current
                                                                               liabilities:
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Accounts payable and
                                                                   accrued liabilities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,994
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8,174
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            127.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Taxes payable</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,800
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,865
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            44.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Deferred revenue</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,875
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,814
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            28.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Total current
                                                                   liabilities
        </td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            11,669
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            12,853
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            200.0
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Convertible debt</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            27,374
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            23,249
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            361.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Deferred tax
                                                                   liabilities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,552
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,374
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            21.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Other accrued
                                                                   liabilities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,126
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,027
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            16.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Total liabilities
        </td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            41,721
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            38,503
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            599.2
        </td>
        <td class="gnw_border_top_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin" colspan="5">
            Commitments and contingencies
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin" colspan="4">
            Shareholders’ equity:
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Priority share: €1.00
                                                                   par value; 1 share
                                                                   authorized, issued
                                                                   and outstanding
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">—</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">—</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">—</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Preference shares:
                                                                   €0.01 par value;
                                                                   1,000,000,001 shares
                                                                   authorized, nil
                                                                   shares issued and
                                                                   outstanding
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">—</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">—</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">—</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Ordinary shares: par
                                                                   value (Class A €0.01,
                                                                   Class B €0.10&nbsp;
                                                                   and Class C €0.09);
            <br>shares authorized (Class A: 1,000,000,000, Class B: 61,295,523 and
                                                                   46,997,887 <br>and
                                                                   Class C: 61,295,523
                                                                   and 46,997,887);
                                                                   shares issued (Class
                                                                   A: 282,161,148 <br>and
                                                                   284,458,784, Class B:
                                                                   47,895,605 and
                                                                   45,597,969, and Class
                                                                   C: 12,000,000 <br>and
                                                                   14,297,636,
                                                                   respectively); shares
                                                                   outstanding (Class A:
                                                                   271,356,566 and <br>275,332,489,
                                                                   Class B: 47,895,605
                                                                   and 45,597,969, and
                                                                   Class C: nil)
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            75
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            285
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_top hugin">
            4.4
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Treasury shares at
                                                                   cost (Class A:
                                                                   10,804,582 and
                                                                   9,126,295,
                                                                   respectively)
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (12,531
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (10,520
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (163.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Additional paid-in
                                                                   capital
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            17,257
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            16,990
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            264.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Accumulated other
                                                                   comprehensive income
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,099
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,067
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            32.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Retained earnings
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            62,197
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            65,324
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,016.6
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Total shareholders’
                                                                   equity
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            70,097
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            74,146
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,153.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">
            <strong>TOTAL LIABILITIES
                                                                                              AND
                                                                                              SHAREHOLDERS’
                                                                                              EQUITY</strong>
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <strong>111,818 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <strong>112,649 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <strong>1,753.1 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="12"><em>* Derived from
                                                                     audited
                                                                     consolidated
                                                                     financial
                                                                     statements</em>
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="12">&nbsp;</td>
    </tr>
</tbody>
</table>
<p align="left"><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited</strong> <strong>Condensed Consolidated Statements of
                                                                                   Income</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars, except share and
                                                        per share data)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="11">
            <strong>Three months ended June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_middle hugin"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>$</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_middle hugin"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle hugin" colspan="3">&nbsp;</td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Revenues</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            13,920
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            18,040
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            280.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Operating costs and
                                                                   expenses:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Cost of revenues<sup>(1)</sup>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,982
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,696
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            73.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Product
                                                                   development<sup>(1)</sup>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,300
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,794
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            59.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Sales, general and
                                                                   administrative<sup>(1)</sup>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,568
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,717
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            57.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Depreciation and
                                                                   amortization
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,874
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,316
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            36.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_middle gnw_label_i10 hugin">Total operating costs
                                                                  and expenses
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            11,724
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            14,523
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            226.0
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Income from
                                                                   operations
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,196
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,517
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            54.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Interest income,
                                                                   net
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            356
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            437
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Other loss, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (1,787
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (842
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (13.1
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_label_i10 gnw_vertical_align_middle hugin">Net income before
                                                                  income taxes
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            765
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,112
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            48.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Provision for income
                                                                   taxes
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            342
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,054
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            16.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Net income</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            423
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,058
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            32.0
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Net income per Class&nbsp;A
                                                                   and Class&nbsp;B
                                                                   share:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Basic</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1.33
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6.42
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            0.10
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Diluted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1.31
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6.30
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            0.10
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Weighted average
                                                                   number of Class A and
                                                                   Class B shares
                                                                   outstanding
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Basic</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            318,514,686
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            320,323,089
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            320,323,089
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Diluted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            323,533,386
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            326,836,136
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            326,836,136
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin" colspan="3">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin" colspan="3">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin" colspan="3">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_align_left gnw_vertical_align_middle hugin" colspan="13">
            <sup>(1)</sup>These balances exclude depreciation and amortization expenses,
                          which are presented separately, and include share-based
                          compensation expenses of:
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Cost of revenues</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            41
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            46
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            0.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Product development
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            395
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            545
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Sales, general and
                                                                   administrative
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            158
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            290
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p align="left"><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited</strong> <strong>Condensed Consolidated Statements of
                                                                                   Income</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars, except share and
                                                        per share data)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_middle hugin"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="11">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_middle hugin"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_middle hugin"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>$</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_middle hugin"><strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle hugin" colspan="3">&nbsp;</td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Revenues</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            26,259
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            34,513
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            537.1
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Operating costs and
                                                                   expenses:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Cost of revenues<sup>(1)</sup>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            7,695
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            9,200
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            143.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Product
                                                                   development<sup>(1)</sup>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,647
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            7,671
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            119.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Sales, general and
                                                                   administrative<sup>(1)</sup>
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,871
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,975
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            108.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Depreciation and
                                                                   amortization
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,364
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,710
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            73.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_label_i10 gnw_vertical_align_middle hugin">Total operating costs
                                                                  and expenses
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            22,577
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            28,556
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            444.4
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Income from
                                                                   operations
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,682
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            5,957
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            92.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Interest income,
                                                                   net
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            840
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            960
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            14.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Other loss, net</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (954
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (2,023
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (31.4
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_label_i10 gnw_vertical_align_middle hugin">Net income before
                                                                  income taxes
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,568
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,894
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            76.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Provision for income
                                                                   taxes
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,018
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,767
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            27.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Net income</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,550
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,127
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            48.7
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Net income per Class&nbsp;A
                                                                   and Class&nbsp;B
                                                                   share:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Basic</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8.02
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            9.78
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            0.15
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Diluted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            7.90
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            9.59
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            0.15
        </td>
        <td class="gnw_border_top_double gnw_border_bottom_double gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Weighted average
                                                                   number of Class A and
                                                                   Class B shares
                                                                   outstanding
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Basic</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            318,125,930
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            319,878,504
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            319,878,504
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Diluted</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            322,884,490
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            326,019,560
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            326,019,560
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_middle hugin" colspan="3">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_middle hugin" colspan="3">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_align_right gnw_vertical_align_middle hugin" colspan="3">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_align_left gnw_vertical_align_middle hugin" colspan="13">
            <sup>(1)</sup>These balances exclude depreciation and amortization expenses,
                          which are presented separately, and include share-based
                          compensation expenses of:
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_align_right gnw_vertical_align_middle hugin" colspan="3">&nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Cost of revenues</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            84
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            95
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Product development
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            774
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,140
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            17.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">Sales, general and
                                                                   administrative
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            296
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            537
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_align_left gnw_vertical_align_middle hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p align="left"><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited Condensed Consolidated Statements of Cash Flows</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="11">
            <strong>Three months ended June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>$</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS FROM OPERATING
                                                    ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net income</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            423
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,058
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            32.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Adjustments to reconcile net income
                                                    to net cash provided by operating
                                                    activities:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Depreciation of property
                                                                and equipment
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,513
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,847
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            28.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Amortization of
                                                                intangible assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            361
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            469
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            7.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Amortization of debt
                                                                discount and issuance
                                                                costs
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            218
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            225
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Share-based compensation
                                                                expense
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            594
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            881
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            13.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Deferred income taxes
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            230
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (98
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1.5
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Foreign exchange
                                                                losses
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,869
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            958
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            14.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Gain from repurchases of
                                                                convertible debt
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (40
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (65
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (112
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Changes in operating assets and
                                                    liabilities excluding the effect of
                                                    acquisitions:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Accounts receivable,
                                                                net
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            58
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (87
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Prepaid expenses and
                                                                other assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,212
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            689
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            10.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Accounts payable and
                                                                accrued liabilities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            141
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,377
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            21.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Deferred revenue</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (128
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            100
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net cash provided by
                                                                operating activities
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>6,386 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>8,307 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>129.3 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="9">CASH FLOWS USED IN
                                                                INVESTING ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Purchases of property
                                                                and equipment and
                                                                intangible assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (4,026
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2,486
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (38.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Proceeds from sale of
                                                                property and equipment
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            27
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            43
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            0.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Acquisitions of
                                                                businesses, net of cash
                                                                acquired
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (118
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Investments in
                                                                non-marketable equity
                                                                securities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (43
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (22
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (0.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Proceeds from maturity
                                                                of debt securities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            521
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Investments in term
                                                                deposits
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (18,683
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (12,157
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (189.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Maturities of term
                                                                deposits
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            9,114
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            8,310
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            129.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Loans granted</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (50
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (0.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net cash used in
                                                                investing activities
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(13,208</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(6,362</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(99.0</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS (USED IN)/ PROVIDED BY
                                                    FINANCING ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Proceeds from exercise
                                                                of share options
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            63
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            164
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Repurchases of
                                                                convertible debt
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1,336
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net cash (used
                                                                in)/provided by
                                                                financing activities
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(1,273</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>164 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>2.6 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Effect of exchange rate
                                                                changes on cash and cash
                                                                equivalents
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (909
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (678
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (10.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net change in cash and
                                                                cash equivalents
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(9,004</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>1,431 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>22.3 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Cash and cash
                                                                equivalents at beginning
                                                                of period
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18,434
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            28,075
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            436.9
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Cash and cash
                                                                equivalents at end of
                                                                period
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            9,430
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            29,506
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            459.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p align="left"><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>Unaudited Condensed Consolidated Statements of Cash Flows</strong>
    <br><br>
    <strong>(in millions of Russian rubles and U.S. dollars)</strong>
</p>
<table class="gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="11">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin">
            <strong>&nbsp;</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_bottom_solid gnw_padding_left_none gnw_vertical_align_middle gnw_align_center hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>RUB</strong></td>
        <td class="gnw_vertical_align_bottom gnw_align_center hugin">&nbsp;</td>
        <td class="gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>$</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="9">CASH FLOWS FROM
                                                                OPERATING ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net income</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,550
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,127
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            48.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Adjustments to reconcile net income
                                                    to net cash provided by operating
                                                    activities:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Depreciation of property
                                                                and equipment
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,648
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3,770
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            58.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Amortization of
                                                                intangible assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            716
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            940
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            14.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Amortization of debt
                                                                discount and issuance
                                                                costs
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            491
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            487
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            7.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Share-based compensation
                                                                expense
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,154
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,772
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            27.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Deferred income taxes
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (105
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (214
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (3.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Foreign exchange
                                                                losses
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,153
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,239
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            34.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Gain from repurchases of
                                                                convertible debt
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (150
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (53
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (0.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Other</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (65
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (148
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2.4
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">Changes in operating assets and
                                                    liabilities excluding the effect of
                                                    acquisitions:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Accounts receivable,
                                                                net
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (783
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (203
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (3.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Prepaid expenses and
                                                                other assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            661
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,200
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            18.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Accounts payable and
                                                                accrued liabilities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (733
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1,046
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            16.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Deferred revenue</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (44
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (37
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (0.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net cash provided by
                                                                operating activities
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>7,493 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>13,926 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>216.7 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS USED IN INVESTING
                                                    ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Purchases of property
                                                                and equipment and
                                                                intangible assets
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (8,862
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (3,941
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (61.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Proceeds from sale of
                                                                property and equipment
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            27
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            65
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            1.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Acquisitions of
                                                                businesses, net of cash
                                                                acquired
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (186
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Investments in
                                                                non-marketable equity
                                                                securities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (54
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (242
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (3.8
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Proceeds from maturity
                                                                of debt securities
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            2,844
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Investments in term
                                                                deposits
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (21,910
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (33,842
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (526.7
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Maturities of term
                                                                deposits
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            15,375
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            32,979
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            513.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Loans granted</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (106
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Escrow cash deposit</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            58
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net cash used in
                                                                investing activities
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(12,708</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(5,087</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(79.2</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin">CASH FLOWS USED IN FINANCING
                                                    ACTIVITIES:
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_vertical_align_bottom hugin" colspan="3">&nbsp;</td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Proceeds from exercise
                                                                of share options
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            91
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            210
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            3.3
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Repurchases of
                                                                convertible debt
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2,717
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1,490
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (23.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Payments of contingent
                                                                consideration
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_vertical_align_bottom gnw_align_right hugin">
            -
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (65
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (1.0
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net cash used in
                                                                financing activities
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(2,626</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(1,345</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(20.9</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Effect of exchange rate
                                                                changes on cash and cash
                                                                equivalents
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (374
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (2,226
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            (34.6
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
           )
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Net change in cash and
                                                                cash equivalents
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>(8,215</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            <strong>)</strong></td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>5,268 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            <strong>&nbsp; </strong><strong>82.0 </strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Cash and cash
                                                                equivalents at beginning
                                                                of period
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            17,645
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            24,238
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            377.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">Cash and cash
                                                                equivalents at end of
                                                                period
        </td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            9,430
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            29,506
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            459.2
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
    <tr>
        <td class="gnw_vertical_align_bottom hugin" colspan="2">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_vertical_align_bottom hugin">&nbsp;</td>
        <td class="gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
        <td class="gnw_padding_left_none gnw_align_left gnw_vertical_align_bottom hugin">
            &nbsp;
        </td>
    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>Reconciliation
                                                                                                                           of
                                                                                                                           Ex-TAC
                                                                                                                           Revenues
                                                                                                                           to
                                                                                                                           U.S.
                                                                                                                           GAAP
                                                                                                                           Revenues</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
                                                    </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Total revenues
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            13,920&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            18,040&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>30%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            26,259&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            34,513&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>31%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Less: </em>traffic acquisition costs (TAC)
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            3,022&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            3,554&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>18%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            5,739&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            6,944&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>21%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Ex-TAC revenues
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            10,898&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            14,486&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>33%</em></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            20,520&nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            27,569&nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>34%</em></td>
    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>Reconciliation
                                                                                                                           of
                                                                                                                           Adjusted
                                                                                                                           EBITDA
                                                                                                                           to
                                                                                                                           U.S.
                                                                                                                           GAAP
                                                                                                                           Net
                                                                                                                           Income</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td
                class="gnw_border_bottom_solid gnw_border_right_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
                                                   </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Net income
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            423
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,058
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>387%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,550
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,127
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>23%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add: </em>depreciation and amortization
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,874
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,316
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>24%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,364
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,710
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add: </em>share-based compensation expense
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            594
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            881
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>48%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,154
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,772
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>54%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add: </em>compensation expense related to contingent consideration
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            153
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            48
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-69%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            188
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            93
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-51%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Less:</em> interest income, net
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (356)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (437)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>23%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (840)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (960)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>14%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add:</em> other loss, net
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,787
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            842
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-53%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            954
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,023
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>112%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add:</em> provision for income taxes
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            342
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,054
        </td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_right gnw_vertical_align_middle hugin">
            <em>n/m</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,018
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,767
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>74%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Adjusted EBITDA
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            4,817
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            6,762
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            8,388
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            12,532
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>49%</em></td>
    </tr>
</tbody>
</table>
<p><br></p>
<p class="text-align-center">
    <strong>Reconciliation
                                                                                                                           of
                                                                                                                           Adjusted
                                                                                                                           Net
                                                                                                                           Income
                                                                                                                           to
                                                                                                                           U.S.
                                                                                                                           GAAP
                                                                                                                           Net
                                                                                                                           Income</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Three months ended June 30,</strong></td>
        <td
                class="gnw_border_top_solid gnw_border_right_solid gnw_vertical_align_middle gnw_align_center hugin" colspan="3">
            <strong>Six months ended June 30,</strong></td>
    </tr>
    <tr>
        <td
                class="gnw_border_bottom_solid gnw_border_right_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
                                                   </td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>
        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_right_none gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2015</strong></td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_vertical_align_middle gnw_align_center hugin">
            <strong>2016</strong></td>

        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_center hugin">
            <em>Change</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Net income
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            423
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,058
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>387%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,550
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,127
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>23%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add:</em> SBC expense
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            594
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            881
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>48%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,154
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,772
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>54%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Less: </em>reduction in income tax attributable to SBC expense
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (11)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (10)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-9%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (20)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (24)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>20%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add: </em>compensation expense related to contingent consideration
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            153
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            48
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-69%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            188
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            93
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-51%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add:</em> foreign exchange losses
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,869
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            958
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-49%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            1,153
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,239
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>94%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Less:</em> decrease in income tax attributable to foreign exchange
                           losses
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (374)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (198)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-47%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (247)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (458)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>85%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Less: </em>gain from repurchases of convertible debt
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (40)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            -
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-100%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (150)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (53)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-65%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add:</em> increase in income tax attributable to gain from repurchases
                          of convertible debt
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            11
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            -
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-100%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            38
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            13
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-66%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Add: </em>amortization of debt discount
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            218
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            225
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>3%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            491
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            487
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>-1%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <em>Less: </em>reduction in income tax attributable to amortization of debt
                           discount
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (52)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (56)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>8%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (117)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            (122)
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>4%</em></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            Adjusted net income
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            2,791
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            3,906
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            5,040
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            7,074
        </td>


        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            <em>40%</em></td>
    </tr>
</tbody>
</table>
<p align="left"><br></p>
<p class="text-align-center">
    <strong>YANDEX&nbsp;N.V.</strong>
    <br><br>
    <strong>RECONCILIATIONS
                                                                                                                           OF
                                                                                                                           NON-GAAP
                                                                                                                           FINANCIAL
                                                                                                                           MEASURES</strong>
    <br>
    <strong>TO
                                                                                                                           THE
                                                                                                                           NEAREST
                                                                                                                           COMPARABLE
                                                                                                                           U.S.
                                                                                                                           GAAP
                                                                                                                           MEASURES</strong>
    <br><br>
    <strong>Reconciliation
                                                                                                                           of
                                                                                                                           Adjusted
                                                                                                                           EBITDA
                                                                                                                           Margin
                                                                                                                           and
                                                                                                                           Adjusted
                                                                                                                           Ex-TAC
                                                                                                                           EBITDA
                                                                                                                           Margin
                                                                                                                           to
                                                                                                                           U.S.
                                                                                                                           GAAP
                                                                                                                           Net
                                                                                                                           Income
                                                                                                                           Margin</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong><strong><em>&nbsp;</em></strong>
        </td>
        <td
                class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_middle hugin" colspan="6">
            <strong>&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_left gnw_vertical_align_middle hugin">
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>U.S. GAAP <br>Actual Net <br>Income</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Net Income <br>Margin (1)</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Adjustment (2)</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Adjusted <br>EBITDA</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Adjusted <br>EBITDA <br>Margin (3)</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Adjusted&nbsp;Ex-TAC <br>EBITDA <br>Margin (4)</strong>
        </td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_left gnw_vertical_align_middle hugin">
            Three months ended June 30, 2016
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            2,058 &nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            11.4%
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            4,704 &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            6,762 &nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            37.5%
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            46.7%
        </td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_left gnw_vertical_align_middle hugin">
            Six months ended June 30, 2016
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            3,127 &nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            9.1%
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            9,405 &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            12,532 &nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            36.3%
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            45.5%
        </td>
    </tr>
</tbody>
</table>
<p>
    (1)&nbsp;
    Net
    income
    margin
    is
    defined
    as net
    income
    divided
    by total
    revenues.
    <br>
    (2)&nbsp;
    Adjusted
    to
    eliminate
    depreciation
    and
    amortization
    expense,
    SBC
    expense,
    expense
    related
    to
    contingent
    compensation,
    interest
    income,
    net,
    other
    loss,
    net, and
    provision
    for
    income
    taxes.
    For a
    reconciliation
    of
    adjusted
    EBITDA
    to net
    income,
    please
    see the
    table
    above.
    <br>
    (3)&nbsp;
    Adjusted
    EBITDA
    margin
    is
    defined
    as
    adjusted
    EBITDA
    divided
    by total
    revenues.
    <br>
    (4)&nbsp;
    Adjusted
    ex-TAC
    EBITDA
    margin
    is
    defined
    as
    adjusted
    EBITDA
    divided
    by
    ex-TAC
    revenues.&nbsp;
    For a
    reconciliation
    of
    ex-TAC
    revenues
    to GAAP
    revenues,
    please
    see the
    table
    above.

</p>
<p><br></p>
<p class="text-align-center">
    <strong>Reconciliation
                                                                                                                           of
                                                                                                                           Adjusted
                                                                                                                           Net
                                                                                                                           Income
                                                                                                                           Margin
                                                                                                                           and
                                                                                                                           Adjusted
                                                                                                                           Ex-TAC
                                                                                                                           Net
                                                                                                                           Income
                                                                                                                           Margin
                                                                                                                           to
                                                                                                                           U.S.
                                                                                                                           GAAP
                                                                                                                           Net
                                                                                                                           Income
                                                                                                                           Margin</strong>
</p>
<table class="gnw_table_yandex gnw_table_border_collapse">
<tbody>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle hugin">
            <strong><em>In RUB millions</em></strong><strong><em>&nbsp;</em></strong>
        </td>
        <td
                class="gnw_border_top_solid gnw_border_bottom_solid gnw_align_center gnw_vertical_align_middle hugin" colspan="6">
            <strong>&nbsp;</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_left gnw_vertical_align_middle hugin"    >
            &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>U.S. GAAP <br>Actual Net <br>Income</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Net Income <br>Margin (1)</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Adjustment (2)</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Adjusted <br>Net Income</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Adjusted <br>Net Income <br>Margin (3)</strong></td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_center gnw_vertical_align_middle hugin">
            <strong>Adjusted&nbsp;Ex-TAC Net <br>Income <br>Margin
                (4)</strong></td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_left gnw_vertical_align_middle hugin">
            Three months ended June 30, 2016
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            2,058 &nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            11.4%
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            1,848 &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            3,906 &nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            21.7%
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            27.0%
        </td>
    </tr>
    <tr>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_align_left gnw_vertical_align_middle hugin"    >
            Six months ended June 30, 2016
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            3,127 &nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            9.1%
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            3,947 &nbsp;
        </td>
        <td class="gnw_border_top_solid gnw_border_right_solid gnw_border_bottom_solid gnw_border_left_solid gnw_vertical_align_middle gnw_align_right hugin">
            7,074 &nbsp;
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            20.5%
        </td>

        <td class="gnw_border_top_solid gnw_border_bottom_solid gnw_padding_left_none gnw_padding_right_none gnw_align_right gnw_vertical_align_middle hugin">
            25.7%
        </td>
    </tr>
</tbody>
</table>
<p>
    (1)&nbsp;
                                                                                                                    Net
                                                                                                                    income
                                                                                                                    margin
                                                                                                                    is
                                                                                                                    defined
                                                                                                                    as net
                                                                                                                    income
                                                                                                                    divided
                                                                                                                    by total
                                                                                                                    revenues.
                                                <br>(2)&nbsp;
                                                                                                                    Adjusted
                                                                                                                    to
                                                                                                                    eliminate
                                                                                                                    SBC
                                                                                                                    expense
                                                                                                                    (as
                                                                                                                    adjusted
                                                                                                                    for the
                                                                                                                    income
                                                                                                                    tax
                                                                                                                    reduction
                                                                                                                    attributable
                                                                                                                    to SBC
                                                                                                                    expense),
                                                                                                                    expense
                                                                                                                    related
                                                                                                                    to
                                                                                                                    contingent
                                                                                                                    compensation,
                                                                                                                    foreign
                                                                                                                    exchange
                                                                                                                    losses
                                                                                                                    (as
                                                                                                                    adjusted
                                                                                                                    for the
                                                                                                                    decrease
                                                                                                                    in
                                                                                                                    income
                                                                                                                    tax
                                                                                                                    attributable
                                                                                                                    to the
                                                                                                                    losses)
                                                                                                                    and
                                                                                                                    amortization
                                                                                                                    of debt
                                                                                                                    discount
                                                                                                                    (as
                                                                                                                    adjusted
                                                                                                                    for the
                                                                                                                    reduction
                                                                                                                    in
                                                                                                                    income
                                                                                                                    tax
                                                                                                                    attributable
                                                                                                                    to the
                                                                                                                    expense).
                                                                                                                    For a
                                                                                                                    reconciliation
                                                                                                                    of
                                                                                                                    adjusted
                                                                                                                    net
                                                                                                                    income
                                                                                                                    to net
                                                                                                                    income,
                                                                                                                    please
                                                                                                                    see the
                                                                                                                    table
                                                                                                                    above.
                                                <br>(3)&nbsp;
                                                                                                                    Adjusted
                                                                                                                    net
                                                                                                                    income
                                                                                                                    margin
                                                                                                                    is
                                                                                                                    defined
                                                                                                                    as
                                                                                                                    adjusted
                                                                                                                    net
                                                                                                                    income
                                                                                                                    divided
                                                                                                                    by total
                                                                                                                    revenues.
                                            <br>(4)&nbsp;
                                                                                                                    Adjusted
                                                                                                                    ex-TAC
                                                                                                                    net
                                                                                                                    income
                                                                                                                    margin
                                                                                                                    is
                                                                                                                    defined
                                                                                                                    as
                                                                                                                    adjusted
                                                                                                                    net
                                                                                                                    income
                                                                                                                    divided
                                                                                                                    by
                                                                                                                    ex-TAC
                                                                                                                    revenues.&nbsp;
                                                                                                                    For a
                                                                                                                    reconciliation
                                                                                                                    of
                                                                                                                    ex-TAC
                                                                                                                    revenues
                                                                                                                    to U.S.
                                                                                                                    GAAP
                                                                                                                    revenues,
                                                                                                                    please
                                                                                                                    see the
                                                                                                                    table
                                                                                                                    above.

</p>
<p><br></p>
<p><strong>Contacts:  </strong><br><br>
Investor Relations<br>
Katya Zhukova <br>
Phone: +7 495 974-35-38  <br>
E-mail: askIR@yandex-team.ru  <br><br>

Media Relations <br>
Ochir Mandzhikov, Asya Melkumova<br>
Phone: +7 495 739-70-00  <br>
E-mail: pr@yandex-team.ru</p>
