On June 22, 2006, Magnesite Group Ltd., which issued a loan on debentures guaranteed by Magnesite Industrial Group JSC in December 2005, made the first coupon payment of 73.680 million RUR, the company’s spokesperson said to UrBC representative. The list of bondholders was finalized on June 13, 2006; this list included both investors who took part in the initial auction and the new ones who bought the bonds on the market. Since the beginning of their life cycle, the securities issued by Magnesite Group Ltd. have been in great demand: the weighted average price came to 101.5% of the face

During the AGM of Siberia Airlines JSC, the company’s executives reported the key results of its business activity in 2005. Deputy GD for Production Alexander Windermut presented the annual report. In 2005, the revenues coming form the services rendered by Siberia Airlines reached the point of 19.652 bn RUR, with their prime cost coming to 18.766bn RUR. TL is estimated at 1.101bn; the investment cost directed at maintaining the western aircraft came to 566 million, pilot training (the staff had to learn to drive western palnes) required 93 million. Within last year, the company performed

The Board of Directors of TGK-9, the power generating company, decided on ENPI Consult CJSC as the independent appraiser for movables and real assets of Reftinskaya, Sredneuralskaya, and Verkhnetagilskaya water power plants. The assessment is needed to sell the first two to OGK-5 and the third one to OGK-1, reports the spokesperson for SverdlovskEnergo JSC. ENPI Consult CJSC will also assess the movable property of Sverdlovsk Region subsidiary of TGK-9, preceding the acquisition of the subsidiary by SysOp UES JSC in Sverdlovsk Region (a company fully owned by RAO UES of Russia).

Abakanskiy subsidiary of Evrazruda JSC, Russian ore maker and part of Evraz Group, put into operation a modern TSR-4 gig at its Vozdukhovydayuschiy groove. This gig provides for the second bucket hoisting from the floor of -200 meters. All the assembling (which took a year to complete) was performed by the company’s technicians. The second bucket hoisting will allow to raise the muck output and, for the time being, could be used as the emergency exit. In addition, the stationary extra lift with cage windingклетьевой подъем in Kletyevoy groove will have been introduced by 2007. It is expected

Yesterday, Siberia Airlines JSC held the annual general meeting attended by the shareholders who possess 89.88% of the total voting stock. The points on the agenda included approving of the annual report for 2005 and of the annual accounting report, including the profit and loss statement and profit and loss distribution. The shareholders also considered the rate, the terms, and the format for dividend payments for 2005, elected the inspection committee and the company’s auditor. The attendees elected nine Board Members: V.F. Filev (GD of Siberia Airline JSC), N.V. Fileva (GD of S7 Group

According to the Central Bank of Russia, the volume of loans given to NGOs and non-profit organizations by Ural Treasures Bank CJSC for a term of one to three years throughout January to May 2006 decreased by 100% (from 14.5 million RUR to zero).

Oleg Bochkarev, head of Electromachine JSC, was appointed General Director of Electromachine ScientificProduction Association, a defense holding, the spokesperson for Chelyabinsk Region Defense Industries Association said to UrBC representative. The newly fledged holding includes Electromachine JSC, Rotor Production Association, Turbine Production Association, and Chelyabinsk Aggregate Plant.

On June 26-27, 2006, Beloyarskaya power station was visited by a group of Japanese executives from PESCO and JAEA. The visit was paid within the framework of Russian-Japanese cooperation in creating uranium-plutonium nuclear MOX fuel. In the course of the visit, the parties discussed organization of cooperative scientific research concerning manufacturing and radiation treatment of MOX fuel in fast reactors. Beloyarskaya power station plans to construct an innovative fast reactor BN-800 by 2012, as well as a trial commercial power-generating unit using fast reactor BN-1800 by 2020.

Alexander Pelevin, GD of Mechanical Engineering Plant JSC of Miass, is leaving for another position. This was reported to UrBC representative by the company’s spokesperson. Oleg Biushkin is now going to fulfill the duties of the company’s GD.

Evrazruda JSC awarded a number of corporate grants to some institutions of general education located in the settlements of Krasnoyarsk Territory and Khakasia covered by the company’s branch network. Likewise, the grants were given to the students and teaching staff. Thus, a grant of 0.1m RUR is awarded to the secondary school No. 50 located in the town of Abaza (Khakasia) for the realization of measures directed at creating the optimal conditions for improving the quality of education. Two teachers of this school were awarded grants of 20,000 RUR each. Six students were awarded grants of

On June 23, 2006, the awarding ceremony for the winners of Taxpayer of the Year National Award took place in Moscow. The personnel of Magnesite Industrial Complex JSC were among the winners. The Taxpayer of the Year award is aimed at promoting the legal conscience of Russian entrepreneurs and building the idea of taxpaying as the natural norm. The event is supported by the Russian Federation Chamber of Accounts, the State Duma Budget and Taxes Committee, and United Russia. The award is expected to make the responsible taxpayers and companies that do their duty to improve the regional and

‘The Board of Directors of TGK-9, the power generating company, decided to start constructing Novo-Bogoslovskaya heating plant (capacity of 200 megawatt) in Sverdlovsk Region and Novo-Beresnikovskaya heating plant (capacity of 80 megawatt) in Perm Region in the third quarter of 2007,’ reports the spokeperson for SverdlvoskEnergo JSC. The plants are expected to be put into operation in 2009. TGK-9 also hopes to start renovating Permskaya heating plant No. 6 in the first quarter of 2007. The renovation should have been completed by 2008.

‘The special K department of Sverdlovsk Region Internal Affairs Administration in Yekaterinburg keeps finding the copyright offenders in the filed of software products. Since the beginning of the year, the investigations have resulted in two criminal lawsuits and one administrative one based on unlicensed use of Microsoft programs,’ Information and Public Relations Director of the Administration Valeriy Gorelykh said to UrBC representative. The total damage is estimated to come to 22,000 RUR. Similar investigations are also taking place in Ural Federal District. In Chelyabinsk, for instance,

Atlant Fund JSC has recently held the annual general meeting. The meeting resulted in approving of the company’s annual report for 2005, the annual accounting report, including the profit and loss statement. The stockholders decided to pass a dividend for 2005. The stockholders also elected the inspection commission and the Board: A. Druzhkov, D. Dunaev, M. Khakimov, D. Kulikov, A. Kulikov, A. Kulikov, D. Potanin, A. Radaev, P. Zemskov. D. Kulikov was elected Chairman, Evgeniy Kulikov was elected CEO. Audit SP Ltd. was decided on as the company’s Auditor.

Vysokogorsky Ore Mining and Processing Enterprise (member of Evraz Group) summed up the results of its corporate rationalization activity in 2005 and the first half of 2006. The summing up was timed to Rationalizer and Inventor’s Day. Within the mentioned period, the company employees made 70 improvement proposals, 34 of them were applied in the company’s production process. The most frequent authors of the innovations were the people employed at the producing departments. The most successful ones were Magnetitovaya mine, the corporate rail carrier, Goroblagodatsky pit, and the open pit.

Goginskaya Grain Store JSC has recently held the annual general meeting. The meeting resulted in approving of the company’s annual report for 2005, the annual accounting report, including the profit and loss statement. The stockholders agreed on the profit distribution. They decided to pass the ordinary share dividend for 2005. The stockholders also elected the inspection commission and the Board, namely, V. Belousov, V. Yurevich, D. Meshkov, N. Yurevich and G. Yefimova. Audit Classic CJSC was elected the company’s auditor.

According to the Central Bank of Russia, the volume of investments drawn to non-resident natural persons deposits at call in Ural Treasures Bank CJSC decreased by 41% (from 121,000 to 71,000 RUR). The volume of investments drawn to non-resident natural person accounts for a term of 91 to 181 days has gone down by 54% (from 271,000 RUR to 125,000 RUR) throughout January 1, 2006 to May 1, 2006. The volume of investments drawn to non-resident natural person accounts for a term of 1 to 3 years has gone down by 25% (from 440,000 RUR to 332,000 RUR).

Integrated Metallurgical Complex of Magnitogorsk declared its intention of completing the dual listing procedure at RTS and MICEX stock exchanges. By July 4, 2006, the company shares will enter ‘B’ listings of both stock exchanges. Earlier, their shares were traded at the stock exchanges without entering any stock list since December 26, 2005. ‘The shares are traded at the level of $.7 per share. The placement of the additional 2% shares issue is not likely to affect the quotation, and, given the small amount and low liquidity of the shares, there don’t appear to be any market opportunities

Metallurgical Industrial Complex of Nizhniy Tagil JSC (part of Evraz Group) started giving overhaul to the powder-gas cleaning equipment of its No. 10 open-hearth furnace. The repairs are expected to take 90 days, since, technology wise, it is only possible in the summertime. As the environmentally protective system is no being repaired, the company took special steps to decrease the hazardous effects of their activity: the open-hearth plant now has to produce less than usual, and the furnaces are stopped from time to time, each in its turn. The atmospheric condition is monitored daily by

According to the Central Bank of Russia, the volume of investments drawn to natural person accounts in UralTransBank JSC for a term of 31 to 90 days has gone down by 13% (from 44.248 million RUR to 38.483 million RUR) throughout January 1, 2006 to May 1, 2006. The volume of investments drawn to natural person accounts for a term of 181 days to 1 year has gone down by 8% (from 1,824,007,000 RUR to 1,676,487,000 RUR).