ChelyabEnergoSbyt has recently held the annual general meeting that resulted in approving of the company’s annual report, the accounting report, including the P&L statement, and profit distribution for 2005.

The shareholders declared the dividend of .0097495 RUR per ordinary share and .0097495 RUR per preference share. They also elected the inspection committee and the Board of Directors: A. Vlasov, General Director of a mortgage-lending agency A. Kondrashov, Deputy GD of Mechel Energo Ltd. V. Chudo, General Director of Mechel Energo Ltd. T. Ufimtsev, the leading executive of the local division of RAO UES of Russia M. Gromov, Councilor of Professional Directors Institute Fund M. Yeremeev, the chief expert of Economic Planning and Financial Control Department of the local division of RAO UES of Russia M. Scheglov, the leading expert of Corporate Management Department of the local division of RAO UES of Russia Yu. Rakitina, the leading expert of Economic Planning and Financial Control Department of the local division of RAO UES of Russia E. Bazhenova, legal adviser of Professional Directors Institute Fund O. Stepanova, and A. Obraztsov.

BDO Unicom was elected the company’s auditor for 2006.