OREANDA-NEWS. On April 20, 2007 the Supervisory Board of ALROSA held its meeting in Moscow under the chairmanship of Alexey Kudrin, RF Finance Minister, Chairman of the Supervisory Board, reported the press-centre of  ALROSA. Under the decision of the Board Alexander Nichiporuk (former President, ALROSA), Vladimir Kalitin (former First Vice-President, ALROSA), Alexander Morozkin (former Vice-President, ALROSA), Petr Galayev (former Vice-President, ALROSA), Yuri Dudenkov (former Vice-President, ALROSA), Semyon Nazarov (former Vice-President, ALROSA), Ernst Beryozkin (former First Vice-President, ALROSA) have been removed from Board membership due to termination of their labour contracts with ALROSA.


The Board approved as its new members Gennady Piven - First Vice-President, ALROSA; Valery Kurguzov, Vice-President, ALROSA; Alexey Veselkov, Administrative Director-Director of ALROSA Moscow Office; Dmitry Mostovov, Director of the Mirny Mining Division. Also in connection with the changes in the Company’s executive management the Board endorsed the following new appointments and changes in the Board membership: Yuri Doinikov - First Vice-President - Executive Director, ALROSA; Anatoly Popov - Vice-President, ALROSA; Petr Glagolev - Vice-President, ALROSA; Alexander Chaadayev - Director, Yakutniproalmaz Scientific and Research Institute.


The Supervisory Board struck the balance on the Company’s economic and financial performance in 2006. In 2006 rough diamond production by the ALROSA Group (including OJSC ALROSA-Nyurba) amounted to USD 2332,2 million, i.e. 2,4% above the target, core product sales  to USD 2864,5 million, and net profit to RUR 15 558 million. The Board resolved to grant its preliminary approval to the 2006 annual report and financial statements, the Auditor’s statement, the Internal Audit Commission statement and submit the above report and statements to the Annual Shareholders General Meeting.


It was decided to recommend to the Annual Shareholders General Meeting to approve the distribution of the net profit as follows:
capital investments - RUR 7631,8 million;
long-term financial investments - RUR 2326,4 million;
repayment of long-term credits, capex-related liabilities, provision of current assets growth - RUR 3261,3 million;
exploration, R&D and construction in process - RUR 98,3 million;
payment of dividends - RUR 2240,0 million.


The Board approved that the next Annual Shareholders General Meeting will be held in Mirny(Republic of Sakha (Yakutia)) on June 23, 2007.