Board of Directors of Electromashina JSC suggests stockholders pass a dividend for 2005

The stockholders meeting of Ural Railway Mechanical Engineering Works JSC (UZhZM), member of Sinara Group, was held on May 18, 2006. The meeting was attended by the stockholders owning 74% of voting shares. The stockholders decided to approve of the company’s annual report and of the accounting statements for 2005. They also approved of some modifications and amendments to the articles of the association. The stockholders decided to pass a dividend for 2005. They also elected the members of the company’s Board of Directors, seven in number, and the inspection commission consisting of three

AGM of Chelyabinsk Mechanical Plant JSC was held on June 9, 2006. The stockholders approved of the annual report and of the accounting statements for 2005, including the P & L account. The stockholders decided to pass a dividend for 2005. They also elected the inspection commission and the Board of Directors of the Association consisting of Yu. Vagin, P. Vagin, V. Shushpanov, A. Yakunchenko, V. Shakirov, I. Lashmanov, and S. Uglev. AC Algorithm Ltd. was appointed the Auditor of the Association.

Board of Directors of Asha Metallurgical Works JSC suggested that the shareholders pass a dividend for 2005 when they gather at the annual general meeting on June 30, 2006. The other points on the agenda of the meeting include discussion of the company’s financial activity in 2005, electing the Board of Directors, the inspection committee, and the company’s Auditor.

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.

The extraordinary general meeting of Yekaterinburg-based oil and mayonnaise producing company resulted in the decision to pass the dividend for 2008. In addition, the present stockholders elected the new Board of Directors, comprising seven members now.