The meeting of Uralprivatbank JSC stockholders held on April 27, 2006 was attended by the holders of 99.7% of the company’s shares. The stockholders confirmed the annual report, the balance sheet and P&L account of the bank for 2005. They decided to pass the placed ordinary nominal share dividend for the last year. All the members of the Board of Directors were re-elected for another year. KPMG CJSC, member of the association KPMG International, was appointed the bank’s auditor.

Uralsky Turbinny Zavod CJSC (Ural Turbine Works, member of RENOVA Group) proceeds with purchasing and modernization of production facilities within the framework of corporate technical re-equipment program. At the beginning of March 2006, the company installed at its machine-assembly department No. 1 and put into operation a new program-controlled merry-go-round machine for processing disks of steam turbine rotors. It is the company’s first machine allowing to process the details of irregular shape that carries out their complete machining. In addition, on April 28, 2006 the company started

Yuzhnouralsky Armaturno-Izolyatorny Zavod JSC (Reinforcement and insulator producer of Yuzhnouralsk) is preparing a reconstruction of its glass furnace. The reconstruction is to be accompanied by the technological development of the furnace. The scheduled volume of the company’s investments into the project exceeds 70m RUR. The company has already negotiated the contract of designing and the procurement contracts for metal, materials and some part of equipment. The reconstruction of the glass-melting sector together with the installation of the new furnace is scheduled for the third quarter

Kalina JSC announced its achievements in the first quarter of 2006 (according to Russian accounting standards). The company’s sales and gross profit have come to 1 924,800 RUR and 932m RUR, respectively. This means a 16.72% increase in sales and a 9.29% increase in gross profit compared to a year earlier. The company’s profit on sales amounted to 480.766m RUR, which exceeds the corresponding figures for 2005 by 14.39%.

In February and March 2006, Zlatex Ltd. sold 66 machines (compared to 44 a year earlier), of which 22 were EO-2621 V-3 (MTZ) excavators, 8 EO-2621 V-3 (YUMZ) ones, 3 EO-2621 V-2 (YUMZ) ones, 27 EO-2621 and EO-2626 Ch ones, and 6 public works machines, the company’s spokesperson said to UrBC representative.

The Board of Directors of Uralmashzavod JSC, a machine-building plant, decided to hold the general meeting on June 24, 2006. The points on the agenda include confirmation of the annual report, the accounting report, including the P & L statement, and profit and loss distribution for 2005. The shareholders will also have to elect the company’s Auditor, the Board Members, and the inspection committee, as well as approve of the amendments to the company’s Charter. The list of attendees was complied according to the state of events as of May 5, 2006. The Board also stated that given the

The general shareholder meeting was held by Magnesite Industrial Complex JSC (part of Magnesite Group) on April 29, 2006. The shareholders approved of the annual report, the accounting report, including the P & L statement, and settled the issue of P & L distribution. It was decided that the company should pass a dividend for 2005 and invest the undistributed net profit into the investment and social programs as well as in enlargement of circulating assets. The shareholders elected Audit Classic JSC as their Auditor for 2006. The Board meeting held on the same day resulted in electing

Ural Airlines JSC summed up its achievements in the first quarter of 2006. According to the company’s spokesperson, the passenger turnover has come to 367, 557,000 passenger/kilometers, which is an increase of 19% against a year earlier. 153,098 (18% more) people have used the airline since the beginning of the year, with the ratio of occupied seats coming to 67.5%. The carrier has performed a total of 1,759 flights, of which 1,343 were within Russia, 129 flights were to the countries of the NIS, and 286 were international ones. In the summer, the maximum daily number of flights is predicted

Yuzhnouralsky Armaturno-Izolyatorny Zavod JSC (Reinforcement and insulator producer of Yuzhnouralsk) has resumed its grinding bodies production using advance payments of prospective buyers. The amounts of sales and production has been determined until the end of year, with monthly deadlines. Porcelain works of Bugulma and Bogdanovitch should be the main buyers of uralite produced at the plant. The contracts have already been signed. Having shipped their orders, the porcelain insulator production management is going to take orders from other clients as well, as there are some applications

Chelyabinsk Trade Center JSC to hold annual meeting on May 23, 2006. The points on the agenda include confirmation of the annual report, the accounting report, including the P & L statement, and profit and loss distribution for 2005, and the issue of dividend. The shareholders will also have to elect the company’s Auditor, the Board Members, and the inspection committee.