OREANDA-NEWS. June 6, 2007. OJSC Novolipetsk Steel (LSE: NLMK) announces the results of voting at the Annual General. Meeting (AGM) held on June 5, 2007.

Shareholders approved the Company’s 2006 annual report, annual financial statements, statement of income, and allocation of profit including dividend payment for the financial year 2006.

Shareholders elected members of the Board of Directors, President of the Company (Chairman of the Management Board), the Company's Internal Audit Commission and approved amendments to the Company's Charter, Regulations on the Board of Directors and the Dividend Policy of NLMK.

NLMK’s shareholders approved the final dividend for 2006 of RUR 3.0 per ordinary share. Including the interim dividend of RUR 1.5 per ordinary share already paid for the first six months of 2006, the AGM approved the payment of an additional RUR 1.5 per ordinary share. Payment of the dividend on ordinary shares will be made before September 3, 2007. NLMK transfers funds for dividend payments on Global Depositary Shares (GDSs) to the depositary bank on 25 July 2007. 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.

NLMK shareholders have elected nine members to the Board of Directors: Vladimir Lisin (Chairman), Oleg Bagrin, Bruno Bolfo (independent director), Igor Fyodorov, Nikolai Gagarin, Dmitry Gindin (independent director), Karl Doering (independent director), Randolph Reynolds (independent director), Vladimir Skorokhodov. Thus, NLMK currently has four independent directors.

Alexey Lapshin was elected President of the Company (Chairman of the Management Board). Biography of Alexey Lapshin: http://www.nlmksteel.com/StandardPage____725.aspx CJSC PricewaterhouseCoopers Audit was approved as the Company’s Auditor for 2007. NLMK’s shareholders approved amendments to the Charter, Regulations on the Board of Directors and Dividend Policy.