1. RUSSIAN AIR CONDITIONER MARKET TRENDS IN 1994-2005 3

INITIAL SATURATION OF MARKET 4

FROM YEAR OF DEFAULT TO 2003 OF SYSTEM CRISES 4

MODERN PHASE OF A/C MARKET DEVELOPMENT 4

2. SUPPLIES & SALES & REMAINDERS 9

3. RUSSIAN MARKET STRUCTURE 14

3.1 CLIMATE EQUIPMENT TYPES 14

3.1.1 HOUSEHOLD SPLITS 17

3.1.2 MULTI-SPLITS 18

3.1.3 PACKAGED AIR CONDITIONER 19

3.1.4 WINDOW AIR CONDITIONERS 21

3.1.5 MOBILE AIR CONDITIONERS 22

3.2 OTHER STRUCTURAL FEATURES 23

3.2.1 HEATING SYSTEM SHARE 23

3.2.2. HCF COOLANT EQUIPMENT 24

3.2.3. INVERTER TYPE MODELS 26

3.3 CONSUMER MARKET STRUCTURE 29

3.3.1 SALES TO CORPORATE CUSTOMERS 30

3.3.2 SALES TO ELITE RESIDENTIAL SECTOR 31

3.3.3 SALES TO STANDARD RESIDENTIAL SEGMENT 32

3.4. WORN-OUT EQUIPMENT REPLACEMENT 34

4. SPECIFIC BRANDS’ SALES IN 2005 37

4.1 JAPANESE BRANDS 39

4.2 KOREAN BRANDS 41

4.3 CHINESE BRANDS 42

4.4 EUROPEAN, AMERICAN AND ISRAELI BRANDS 44

5. RUSSIAN MARKET A/C DELIVERY CHANNELS 45

5.1. SPECIALIZED COMPANIES A/C SALES 47

5.2. TRADING HOUSES A/C SALES 50