OREANDA-NEWS. March 01, 2012. Pursuant to the resolution of the sole shareholder of PJSC EMAlliance – Auburn Investments Limited (Republic of Cyprus) - the new composition of the Board of Directors of PJSC EMAlliance has been elected.

The new composition of the Company Board of Directors is as follows:

Igor Kostin – Director General of OJSC Power Machines,

Alexey Barvinok – Deputy Director General – Sales Directorate Director of OJSC Power Machines,

Vadim Chechnev, Economy and Finance Director of OJSC Power Machines,

Alexander Rantsev – Strategic Development and Controlling Director of OJSC Power Machines,

Nicolay Tarakanov – Legal Directorate Director of OJSC Power Machines,

Maxim Rumyantsev – HR Director of OJSC Power Machines,

Maria Aleeva – Head of Public Relations and Advertising Department of OJSC Power Machines.

Mr. Igor Kostin has been elected Chairman of the Company Board of Directors. The above resolution has been passed in accordance with the agreement reached between OJSC Power Machines and Auburn Investments Limited on acquisition by OJSC Power Machines of the stake in PJSC EMAlliance.