Management of Russky Khrom 1915 CJSC (Russian Chrome 1915) is considering opportunities to renounce the tolling contract of sodium dichromate delivery to Kermas Company. The contract came into effect in May 2005. ‘Although tolling is a perfectly legitimate scheme of production organization which is widely used worldwide, Russian joint proprietors of the company are inclined to reduce processing of goods made on commission and seek to arrange direct raw materials supplies,’ the message of the Russian Chrome 1915 PR-department indicates.

The Board of Directors of United Machine Building Works JSC decided to holdthe annual shareholder meeting on June 5, 2006. The Board compiled the agenda and suggested that the shareholders should declare and pay the preference share dividend of 12% of face value. Part of the profit will probably be invested in the company development. The list of shareholders was closed on April 17, 2006. The total number of placed equities is 35, 480,186, that of preference shares is 2,750,000. The face value of one share is .1 RUR.

According to the accounting report of Bank Khlebniy JSC presented in the course of the general shareholder meeting on April 20, 2006, the bank’s assets as of January 1, 2006 came to 75,903,000 RUR, which exceeds the sum for January 1, 2005 by 24.51%. The net loan debt went up by 57.24% and reached the point of 40,589 RUR. The bank’s liabilities rose by 32.98% because of the funds obtained via People’s Bank of Kazakhstan, proprietor of Bank Khlebniy JSC. The bank’s loan portfolio rose by 1.6 times compared to the beginning of 2005 and amounted to 44,844,700 RUR. Most of the loan portfolio

A pilot batch of protective devices for VAZ-1118 Kalina cars was produced at Metallist plant of Verkhniy Ufaley in April 2006. The device had been designed by Trek Production Association CJSC. It is a hood with traditional molded edges that allow to triple its stiffness against ‘flat’ configurations and to decrease the weight as much as possible. The hood is fixed onto the bearing members of the body without any additional location bracketry and does not need to be specifically fitted in, which makes it handy for drivers. The device provides for extra protection around the bleed holes of the

Machine Building Works of Kopeisk JSC sold out its subsidiary Krystal Ltd. Its share holding in the subsidiary amounted to 80%. The selling out procedure was recorded (minutes No. 4) at the general meeting of Crystal shareholders on April 26, 2006.

CHPATO-2 JSC is going to hold general meeting on May 26, 2006. The points on the agenda include confirmation of the annual balance sheet and the profit distribution for 2005. The shareholders will also have to elect the Board Members, the inspection committee, and the company’s Auditor.

In the first quarter of 2006, net profit of Power Generating Company of Chelyabinsk JSC went up by 62,528,000 RUR (24%) against a year earlier. According to the spokesperson, this has to do with the seasonal increase in heat consumption.

Ashinsky Metallurgichesky Zavod JSC (Metallurgical Works of Asha) announced its acquisition of 51% interest in Karamet Ltd (Kazan, Tatarstan). The date of change of interest of Ashinsky Metallurgichesky Zavod JSC in the authorized capital of Karamet is March 28, 2006.

A stockholder meeting of Uralburmash JSC (Ural Drilling Engineering Works) was held on May 3, 2006. The stockholders made a decision to approve of the annual report for 2005 of the association and its annual accounting statements including P&L accounts. They decided not to declare annual share dividends, not to reward members of the company’s Board of Directors and the inspection commission for fulfilling their duties and not to refund charges resulted thereof. The stockholders also approved of the revision of the articles of Uralburmash JSC, elected the Board of Directors consisting of

Yuzhural-Transtelecom CJSC summed up its success in the first quarter of 2006. The company’s operating income came to 69.7m RUR, which exceeds the planned income by 19% and the corresponding figures for the previous year by 44.6%. The share of communication service revenue in the overall operating income amounted to 69% or 48m RUR, which exceeds the corresponding figures for the first quarter of 2005 by 57.3% and planned revenue by 22.6%. The total commercial traffic doubled against the first quarter of 2005 and exceeded 26 TBytes in March 2006. Within the mentioned period,

Vanadium ore mining and processing enterprise of Kachkanar JSC announces the incidental increase in profit of over 10%. This is due to better sales and higher prices as well as due to the lowering of prime cost. In the first quarter of 2006, the company has raised its net profit by 52.4% compared to the fourth quarter of 2005: it came to 1,050,580,000 RUR.

Uralvtorprizep JSC is going to hold general meeting on June 23, 2006. The points on the agenda include confirmation of the company’s financial success in 2005, P & L distribution, and declaring the dividends. The shareholders will also have to elect the Board of Directors, the inspection committee, and the company’s Auditor.

Chelyabinsk Region Territorial Agency of Subsoil Resources announced the results of the auction held to grant a license for geological research, exploration, and extraction of nephrites at Akademicheskiy patch near Miass, Chelyabinsk Region. There were two bidders altogether, Ural Geological Innovation Center Ltd. and Granite Invest Ltd. The former outbid the latter by bidding 161,000 RUR against the opening bid of 140,000 RUR as the price of a nonrecurring payment.

The Board of Directors of Uralliga JSC scheduled the annual meeting for May 26, 2006. The shareholders will have to be acquainted with and approve of the annual report, the accounting report for 2005, including the P & L statement, and profit distribution, including declaring the dividends. They will also have to elect the Board members, the company’s management, the inspector and the Auditor for 2006. The Board of Directors is going to suggest that the shareholders decide to pass a dividend imposed on registered shares with a par value of 50 RUR each. The preference share (face value of

Ural Circuit Division of Investigative Department of Federal Drug Turnover Control Service completed the investigation of the criminal case involving Production Development Director of Irbit plant of chemicals and pharmaceuticals, Sverdlovsk Region. The person in question was charged with large-scale production and sale of drugs, reported the spokesperson for Deputy Public Prosecutor of Russian Federation in Ural Federal District. It has already been proved that the accused used his managerial position to set up production of synthetic drugs (amphetamine and amphetamine-based drugs) in the

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.