OREANDA-NEWS. April 11, 2008. At the recent meeting of the Board of Directors of OJSC Belon, a number of decisions were made in regard to corporate management and holding of the Annual General Meeting of Stockholders. The General Meeting will take place on May 29, 2008.

The Board of Directors made a recommendation regarding the amount of dividends on the shares of OJSC Belon. The Annual General Meeting of Stockholders will be due to pay dividends in the amount of RUR 17.18 on one share. The total amount to be paid as dividends will be 35% оf the Company’s net profit made in 2007 and calculated according to the Russian Accounting Standards (RAS). The list of the shareholders entitled to receive dividends and to participate in the Annual General Stockholders' Meeting will be made out by April 10, 2008. According to the decision of the Board of Directors, the Annual General Meeting of Stockholders will consider the following issues: -adoption of the Company’s Annual Report for 2007; -appointment of the Company’s Auditor; -election of the members of the Company’s Board of Directors; -election of the Company’s Director General; -election of the members of the Audit Committee and the Counting Board; -approval of the new version of the Company’s Articles of Association; -approval of the Statement on the Company’s Board of Directors; -payment of remuneration to the members of the Audit Committee. In addition, the new Management Board of OJSC Belon was approved. Current Director General A. P. Dobrov was elected Chairperson of the Board. The members of the current Management Board include: -K. I. Lagutin — First Deputy Director General; -Ye. V. Gaisler — Deputy Director General for Perspective Development; -V. V. Ivanov — Deputy Director General for HR Management; -Yu. M. Tarasov — Director of IT Department; -D. G. Vostretsov — Deputy Finance Director, Director of the Finance Department; -L. N. Kozlova — Director of the Accounting, Tax Accounting and Financial Reporting Department; -L. V. Guzenko — Director of the Economics and Planning Department; -V. S. Kozel — Director of the Steel Mill Products Department; -T. A. Paranosenkova — Head of the Director General’s Office.