OREANDA-NEWS. May 5, 2010. At a meeting on 27 April 2010 the Board of Directors of OMZ (Uralmash-Izhora Group) set 30 June 2010 as the date for the annual general shareholders’ meeting (AGM) of the Company. Registration of the AGM participants will begin at 9.30a.m. and the AGM will commence at 10.30a.m. at OMZ’s office at 2nd Ambulatorniy Proezd, 8, str. 3, Moscow 125315. The meeting will be open to all holders of record as of 12 May 2010.

The agenda of the AGM will be as follows:

1. Ratification of the 2009 financial year annual report, annual financial results, including the statement of profit and loss and distribution of profits, including payment of dividends.

2. Election of the members of the Company’s Board of Directors.

3. Election of the members of the Company’s Revision Commission.

4. Approval of the Company’s auditors.

5. On the compensation of the members of the Board of Directors.

6. Approval of the By-law on Compensation of the members of the Board of Directors.

7. Approval of a new version of the Company Charter (version #6).

8. Approval of a new version of the By-law on the Board of Directors (version #3).

9. Approval of changes and editions to the By-law on the General Shareholders Meeting of the Company.

10. Approval of possible future interested party transactions executed by the Company in the course of its day-to-day operations.

11. Approval of an interested party transaction – signing of Addendum #4 to the Contract for Liability Insurance of OMZ’s Directors and Officers.

12. Approval of an interested party transaction – conclusion of a contract between OJSC “OMZ” and OJSC “Bank VTB North-West” guaranteeing the obligations of OJSC “Izhorskye Zavody”.

13. Approval of an interested party transaction – conclusion of a contract between OJSC “OMZ” and OJSC “Bank VTB North-West” guaranteeing the obligations of CJSC “OMZ-Spetzsteel”.

Shareholders can familiarize themselves with the meeting materials between 10th and 30th June 2010, between 11a.m. and 5p.m., Monday to Friday, at the following address:

OMZ

2nd Ambulatorniy Proezd, 8, str. 3

Moscow 125315

Tel: (+7495) 662 1040, ext. 1194

Fax: (+7495) 662 1041

Shareholders can also send filled-in bulletins to the above address, provided they are received no later than 9.30a.m. on 30 June 2010.