OREANDA-NEWS. December 18, 2008. On the initiative of the President of Belon Group, Andrey P. Dobrov, the members of the Company’s Board of Directors decided to waive their rights to dividends for the 4th quarter of 2008. This decision will be extended to the year of 2009—to the end of their term as members of the Board of Directors of OAO Belon.

This decision is dictated by their understanding of the current economic situation and by the necessity for reducing the Company’s costs in the context of the world financial and economic crisis.