OREANDA-NEWS. December 29, 2008. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, announced today that its Board of Directors meeting Dec. 23 approved the early termination of the powers of the Committee’s member Alla Antipova,Head of Department for Corporate Clients’ Credit Risks, Sberbank, in connection with Ms. Antipova’s job change. In accordance with the Sberbank’s request Natalia Rostovtseva, Deputy Director, Risk Management Directorate, Sberbank, was appointed, replacing Ms. Antipova.

Membership of NDC’s Risk Management Committee now is as follows:
1 Vladislav Zimin  Economic Advisor, Market Services Department, Bank of Russia
Chairman, Risk Management Committee
2 Sergei Naumov  Deputy Director – Controller, NDCDeputy Chairman, Risk Management Committee
3 Alexei Andreyev Director, Strategic Risks Department, UniCredit Bank
4 Alexei Barbashov Director for Risk Management, MICEX
5 Maria Krasnova Head of Legal Division, NDC
6 Oleg Labutin Deputy Chairman of the Board,  Board  Member, Bank  "National Clearing Centre" (CJSC)
7 Natalia Rostovtseva Deputy Director, Risk Management Directorate, Sberbank
8 Veronika Sorochkina Senior Manager of Department for Depository Services’ Organization and Development, VTB Bank
9 Tatiana Ulyanova Deputy Head of Department for Depository Services’ Organization in the Depository, Vnesheconombank
10 Nikolai Chemodurov Head of Directorate for Analysis and Audit of Depository Activities, GPB OJSC

NDC’s Board of Directors approved and recommended that the general meeting of NDC members consider the following issues related to the company’s reorganization from not-for-profit partnership to a joint stock company, including:
 Approaches to the key problems of reorganization;
Terms of and procedures for carrying out an inventory and the preparation of a transfer protocol;
Methods of evaluation of transferred (received) property and liabilities;
A plan for NDC reorganization into a joint stock company during Q1 2009.

NDC’s Board of Directors recommended that the general meeting nominate Nikolay Egorov, Director, NDC, and Eddie Astanin, Deputy Director, NDC, as the candidates to the Board of Directors of Settlement Depository Company CJSC.

The directors of the company reviewed a report by NDC’s director on preliminary results for 2008 and information on the progress in implementation of NDC’s Technological Platform Modernization Program. NDC’s budget for 2009 was approved. NDC’s income and expense budget and NDC’s capital investment budget for 2009 were recommended for approval by the general meeting. The participants of the BoD meeting reviewed corrected budgets of NDC Technological Platform Modernization Program.

NDC’s Board of Directors recognized a Plan of NDC Internal Control Department’s Activities for 2008 as implemented and approved a Plan for NDC Internal Control Department’s Activities for 2009.