OREANDA-NEWS. On June 28, 2007 the Annual General Meeting of Shareholders approved the annual report and annual financial statements (including Profit and Loss Report) of the Company for 2006, reported the press-centre of VSMPO-AVISMA.

The Annual General Meeting of Shareholders approved allocation of the Company’s profit / losses based on the results of 2006 fiscal year, including payment (declaration) of dividends in the amount of 50,83 roubles per ordinary share, remunerations to the members of the Board of
Directors in the aggregate amount of 2,450.000 roubles and remunerations to the members of the Internal Auditing Committee in the aggregate amount of 532,000 roubles.

The Annual General Meeting of Shareholders re-elected the members of the Board of Directors in the same membership: A.V. Aleshin, V.A. Besedin, M.V. Voevodin, N.K. Melnikov, V.V. Tetyukhin, S.V. Chemezov, M.E. Shelkov.

The Annual General Meeting of Shareholders elected the members of the Internal Auditing Committee. The number of the members of the Internal Auditing Committee was increased from five to seven persons. Baker Tilli Rusaudit LLC, Moscow was approved as the Company’s Auditor for 2007.

The Annual General Meeting of Shareholders also approved introduction of
changes into the Bylaws, Regulations for the Board of Directors and
Regulations for the Director General of PSC VSMPO-AVISMA Corporation.