OREANDA-NEWS. Novolipetsk Steel (LSE: NLMK), the leading Russian steel producer, announces the results of voting on the resolution proposed at the Extraordinary General Meeting held on 29 September 2006.

The following resolution was put to NLMK’s shareholders on a poll at the Extraordinary General Meeting, and the results of voting were as follows: To approve the dividends for the first half of 2006 in the amount of 1.5 ruble per common share. The payment of dividends should be carried out till December 28, 2006 through the money transfer.

NLMK transfers funds for dividend payments on Global Depositary Shares (GDSs) to the depositary bank on 23 November 2006. Depositary bank sets payment date no later than 5 days after receipt of funds. Dividends on GDSs will be paid, by default, in U.S. dollars (USD) based on USD/RUR spot F/X rate on the day of currency conversion by the depositary bank.

Further to the Dividend Declaration on 16 August 2006, the Board of Directors approved a record date for the half-yearly dividend of 16 August 2006 (00:00).