Ore mining and processing enterprise of Asbest Board of Directors schedules general shareholder meeting for March 24, 2006

8 February 2006 (09:30)

The Board of Directors of Uralskiy Asbestoviy Gorno-Obogatitelny Kombinat JSC, ore mining and processing enterprise of Asbest, Sverdlovsk Region, decided to schedule the general shareholder meeting for March 24, 2006.

The points on the agenda include the approvals of the annual report and of the annual bookkeeper's record, ibcluding the company’s profit and loss statement for 2005. The other points concern allocation of profits made in 2005 and settlement of dividend payments. The shareholders also are to consider the company’s development strategy and the projected showing for 2006.

The meeting is also aimed at choosing the independent auditor for 2006 and settling the issue of the authorized capital increase using the company’s assets and through extra allotment of shares among the shareholders.

Finally, the shareholders are to elect the Board members, the members of the auditing commission and the General Director.

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