QIWI Announces First-Quarter 2014 Results

Total Adjusted Net Revenue Increases 46% to RUB 1,877 Million -- Adjusted Net Profit Increases 72% to RUB 785 Million or RUB 14.78 Per Share -- QIWI Raises 2014 Guidance -- Board of Directors Approves Dividend of 29 Cents Per Share

MOSCOW, May 21, 2014 -- QIWI plc, (QIWI) ("QIWI" or the "Company") today announced results for the first-quarter ended March 31, 2014.

First-Quarter 2014 Operating and Financial Highlights

• Total Adjusted Net Revenue increased 46% to RUB 1,877 million ($52.6 million)
• Adjusted EBITDA increased 75% to RUB 1,068 million ($29.9 million)
• Adjusted Net Profit increased 72% to RUB 785 million ($22.0 million), or RUB 14.78 per diluted share
• Total payment volume increased 20% to RUB 149.6 billion ($4.2 billion)

Paulson Capital and Variation Biotechnologies Enter Into Merger Agreement

PORTLAND, Ore., May 9, 2014 -- Paulson Capital (Delaware) Corp., a publicly traded Delaware corporation (PLCC) ("Paulson"), and privately owned Variation Biotechnologies (US), Inc., a Delaware corporation ("VBI"), announced today that they have signed a definitive merger agreement. Under the agreement, VBI will become the operating subsidiary of Paulson and VBI's pre-merger stockholders will acquire shares of Paulson Common Stock that will represent approximately 59% of the outstanding voting power of Paulson capital stock upon consummation of the transactions contemplated by the merger agreement, including a concurrent private placement of Paulson Common Stock with gross proceeds of at least $11,000,000 to certain institutional stockholders of VBI and an additional institutional investor that has been identified.