Holding company news

According to the preliminary information following decisions were made during the meeting:

1. Shareholders approved Annual report, Annual accounting reports, including Report on losses and profits of the Company.

2. Considering negative financial results of the Company in 2010 losses in amount of 175,874 thousand rubles should be paid off by means of undistributed profits of the past years.

According to the companys’ performance 2010 no dividends will be paid off.

3. Shareholders approved the Board of the Directors consisting of 9 persons and elect to the Board of Directors the following candidates:

Gorelik Evgeniy Valeryevich

Dimidyuk Nikolay Mikhailovich

Kovalev Evgeniy Aleksandrovich

Kostin Ivan Mikhailovich

Makarovets Nikolay Aleksandrovich

Medvedyuk Yuriy Stanislavovich

Oshepkov Oleg Vladimirovich

Pronin Nikolay Nikolayevich

Sarksyan Vagarshak Borisovich

4. Shareholders approved Revision committee consisting of 5 persons and to elect Revision committee following persons:

Gulyan Artur Robertovich

Dzygar Yana Germanovna

Ishakov Shamil Gabdulkhakovich

Ponomarenko Irina Nikolaevna

Fazdalova Gulnaz Mirkhaziyanovna

5. LLC “Agentstvo “Nalogi i Pravo” was approved as auditor.

6. Shareholders approved all interested-party transactions.

Evgeniy Kovalev was elected Chairman of the newly elected Board of Directors at the Board of Directors meeting held after the Annual General Shareholders Meeting