OREANDA-NEWS. On 20 June 2008 was announced, that Novorossiysk Commercial Sea Port has exercised its right as majority shareholder and nominated the candidates for the Boards of Directors of its subsidiaries: NLE Timber & Container Terminal, NSRZ Ship Repair Yard, NZT Grain Terminal, NCSP Fleet, and IPP. The following members have joined the subsidiaries’ Boards:

- Alexandr A. Ponomarenko, Chairman, Board of Directors, NCSP

- Igor E. Vilinov, General Director, NCSP

- Dmitry A. Bolotov, First Deputy General Director, NCSP

- Vladimir A. Kayashev, Vice President, Strategy, NCSP

- Pavel P. Oleinick, Vice President, Investments, NCSP

- Tatyana P. Chibinyaeva, Vice President, Finance, NCSP

- Tamara A. Pakhomenko, Senior Vice President, NCSP Moscow Office

- other NCSP executives

Igor Vilinov, General Director of NCSP, said: “The meetings of shareholders of NCSP’s subsidiaries have appointed the new Boards of Directors which have included representatives of our company. This decision implements our policy of subsidiaries’ management through participation in every company’s Board. This policy is aimed at better coordination of the port’s activity to increase the share of high-margin cargoes, and deliver equally high quality of the port’s services.”