OREANDA-NEWS. November 10, 2010. At a meeting the Board of Directors of OJSC OMZ (Uralmash-Izhora Group) (OMZ) set 20 January 2011 as the date for an extraordinary shareholders’ meeting (EGM) of the Company. Registration of the EGM participants will begin at 9.30a.m. and the EGM will commence at 10.30a.m. at OMZ’s office at 2nd Ambulatorny Proezd, 8, str. 3, Moscow 125315. The meeting will be open to all holders of record as of 28 October 2010.

The Board approved the following agenda for the EGM:

1. Early termination of the powers of the members of the Board of Directors

2. Election of members to the Board of Directors

Shareholders can familiarize themselves with the meeting materials after 27 December 2010, between 11a.m. and 5p.m., Monday to Friday, at the following address:

OMZ

2nd Ambulatorny Proezd 8/3

Moscow, Russia

Tel: (plus7495) 662 1040

Fax: (plus7495) 662 1041

Shareholders can also send filled-in bulletins to the above address, provided they are received no later than 9.30a.m. on 20 January 2011.