OREANDA-NEWS. On June 19, 2007 Amtel-Vredestein N.V. (LSE: AMV), a leading European tyre producer and Russia's largest passenger car tyre manufacturer confirmed that it has nominated Russian Machines CEO and Gaz Group Chairman Petr Zolotarev to its Executive Board. Acting Vice-President at YUKOS Refining and Marketing, Vadim Pesochinsky, was also nominated to the Executive Board. Both appointments are to be effective July 1st, once they are approved at the company's Annual General Meeting of Shareholders (AGM) scheduled for 30 June in Amsterdam, reported the press-centre of  Amtel-Vredestein N.V.

Zolotarev is expected to succeed Alexei Gurin as head of the Company. Gurin, who joined the Company in 2001 and rose to the post of CEO in 2004, plans to leave the Group to pursue new opportunities as soon as the terms of his resignation are concluded — which is expected to be at the time of the Company's AGM.

"Although the management may be changing, the Company will continue to adhere to its current strategies, including its current funding effort and particularly the launch of its debut Eurobond," said Sudhir Gupta, Amtel-Vredestein shareholder and Chairman of its Supervisory Board, who spearheaded the search for a new head of the Company.

"Mr. Zolotarev is a distinguished business leader and an experienced chief executive. The Amtel-Vredestein Supervisory Board is completely confident in his ability to steward the company as it continues to execute its strategy, and bring tremendous value to our shareholders," said Gupta.

"Mr. Gurin has accomplished his mission. He led the company through several critical acquisitions, including Vredestein Banden and the Moscow Tyre Plant, as well as the Company's listing on the London Stock Exchange. Recently the Company announced that it has begun testing tyres at the new factory at its Voronezh tyre complex, which will become fully operational later this year — the last major step in the company’s transformation to a modern production platform. We respect Mr. Gurin's desire to move on upon completion of this key milestone, and appreciate his willingness to support the company through the transition to new management," said Gupta.

Amtel-Vredestein N.V. is Europe's leading tyre producer and Russian number one passenger car tyre manufacturer. The Company sells passenger car tyres under the VREDESTEIN, AMTEL, MALOYA and TAGANCA brands manufactured at its facilities in Enschede, Netherlands; Kirov, Moscow and Voronezh, Russia. The company's AV-TO subsidiary is Russia's number one automotive retailer and the leading tyre and auto parts distributor.

FORWARD-LOOKING STATEMENTS. This press release may contain forward-looking statements regarding future events or the future financial performance of Amtel-Vredestein N. V. These statements are not guarantees of future performance, which is subject to risks, uncertainties and assumptions that cannot be predicted with certainty. Accordingly, actual outcomes and results may differ materially from those expressed in the forward-looking statements. Amtel-Vredestein N.V. does not intend to update these statements to reflect actual results.