OREANDA-NEWS. July 13, 2007. Name and location of the Company: Public-Stock Company VSMPO – AVISMA Corporation, 1, Parkovaya Str., Verkhnaya Salda, Sverdlovsk Region, Russia, reported the press-centre of VSMPO-AVISMA.

Type of the meeting: Annual

Form of the meeting: Joint presence of shareholders with prior forwarding of the voting slips

Date of the meeting: June 28, 2007

Place of the meeting: 12, Parkovaya Str., Verkhnaya Salda, Conference hall.

Agenda of the Annual General Meeting of Shareholders
1. Approval of the annual report, annual financial statements (including Profit and Loss Report) of the Company for 2006.

2. Approval of the allocation of the Company’s profit / losses based on the results of 2006 fiscal year, in-cluding payment (declaration) of dividends, remunerations and /or compensations to the members of the Board of Directors and Internal Auditing Committee incurred by them when fulfilling their duties.

3. Election of the members of the Board of Directors.

4. Election of the members of the Internal Auditing Committee.

5. Approval of the Company’s Auditor.

6. Introduction of changes into the Bylaws of PSC VSMPO-AVISMA Corporation.

7. Introduction of changes into the “Regulations for the Board of Directors of PSC VSMPO-AVISMA Corporation”.

8. Introduction of changes into the “Regulations for the Director General of PSC VSMPO-AVISMA Cor-poration”.

In accordance with Article 56 of the Federal Law on Joint-Stock Companies dd. 26.12.1995 No. 208-FZ functions of the returning board were fulfilled by the registrar of the PSC VSMPO – AVISMA Corporation – Joint-Stock Company Central Moscow Depository. Registrar location: building B, 3 Or-likov Pereulok, Moscow, 105078.

Authorized representative of the registrar – Sergey V. Volneikin.
Chairman of the meeting – Alexey V. Aleshin.
Secretary of the meeting – Artem V. Kislichenko.

Quorum and voting results on Agenda item 1

1. Approval of the annual report, annual financial statements (including Profit and Loss Re-port) of the Company for 2006.
Number of votes possessed by the persons included into the list of persons authorized to take part in the general meeting 11 523 294

Number of votes possessed by the persons – owners of the placed shares holding the voting authority at the general meeting 11 529 538
Number of votes possessed by the persons who took part in the general meeting 8 895 911
Quorum for this item was secured (%) 77,1576

Voting options Number of votes Percentage
(of the total number of persons who took part in the voting)
“Aye” 8 894 219 99,9810
“Nay” 81 0,0009
“Abstained” 2 0,0000

Invalid votes 1308

Quorum and voting results on Agenda item 2

2. Approval of the allocation of the Company’s profit / losses based on the results of 2006 fiscal year, including payment (declaration) of dividends, remunerations and /or compensations to the members of the Board of Directors and Internal Auditing Committee incurred by them when fulfilling their duties.

Number of votes possessed by the persons included into the list of persons authorized to take part in the general meeting 11 523 294
Number of votes possessed by the persons – owners of the placed shares holding the voting authority at the general meeting 11 529 538
Number of votes possessed by the persons who took part in the general meeting 8 895 911
Quorum for this item was secured (%) 77,1576

Voting options Number of votes Percentage
(of the total number of persons who took part in the voting)
“Aye” 8 894 315 99,9821
“Nay” 258 0,0029
“Abstained” 0 0,0000

Invalid votes 1037

Quorum and voting results on Agenda item 3

3. Election of the members of the Board of Directors.
Number of votes possessed by the persons included into the list of persons authorized to take part in the general meeting 80 663 058
Number of votes possessed by the persons – owners of the placed shares holding the voting authority at the general meeting 80 706 766
Number of votes possessed by the persons who took part in the general meeting 62 271 377
Quorum for this item was secured (%) 77,1576

## Name of the candidate Number of votes for cumula-tive voting Percentage
(of the total number of persons who took part in the voting)
“Aye” Distribution of votes by candidate
1 Tetyukhin V.V. 9 486 704 15,2345
2 Besedin V.A. 8 769 832 14,0832
3 Melnikov N.K. 8 765 211 14,0758
4 Chemezov S.V. 8 761 322 14,0696
5 Shelkov M.E. 8 760 361 14,0680
6 Aleshin A. V. 8 759 442 14,0666
7 Voevodin M.V. 8 759 261 14,0663

"Nay" regarding all candidates 581 0,0009
"Abstained" regarding all candidates 0 0,0000

Invalid votes 145 488

Quorum and voting results on Agenda item 4

4. Election of the members of the Internal Auditing Committee
Number of votes possessed by the persons included into the list of persons authorized to take part in the general meeting 11 523 294
Number of votes possessed by the persons – owners of the placed shares holding the voting authority at the general meeting 11 529 538
Number of votes possessed by the persons who took part in the general meeting 8 895 911
Quorum for this item was secured (%) 77,1576

Distribution of votes, percentage of the total number of persons who took part in the voting

¹ Name of the candidate "Aye" "Nay" "Abstained" Invalid voices
voices %
1 Uglov O.B. 8 894 765 99,9871 83 0 762
2 Zabolotskaya N.M. 8 894 661 99,9859 187 0 762
3 Golovushkin A.A. 8 894 625 99,9855 123 100 762
4 Pryanichnikova N.I. 8 894 475 99,9839 333 0 802
5 Yakovleva L. K. 8 894 430 99,9834 333 100 747
6 Tanaev A. F. 8 894 283 99,9817 83 482 762
7 Ryzhova T.E. 8 890 080 99,9345 728 4 040 762

Quorum and voting results on Agenda item 5
5. Approval of the Company’s Auditor.
Number of votes possessed by the persons included into the list of persons authorized to take part in the general meeting 11 523 294
Number of votes possessed by the persons – owners of the placed shares holding the voting authority at the general meeting 11 529 538
Number of votes possessed by the persons who took part in the general meeting 8 895 911
Quorum for this item was secured (%) 77,1576

Voting options Number of votes Percentage
(of the total number of persons who took part in the voting)
“Aye” 8 893 179 99,9693
“Nay” 98 0,0011
“Abstained” 1 296 0,0146

Invalid votes 1 037

Quorum and voting results on Agenda item 6
6. Introduction of changes into the Bylaws of PSC VSMPO-AVISMA Corporation.
Number of votes possessed by the persons included into the list of persons authorized to take part in the general meeting 11 523 294

Number of votes possessed by the persons – owners of the placed shares holding the voting authority at the general meeting 11 529 538
Number of votes possessed by the persons who took part in the general meeting 8 895 911
Quorum for this item was secured (%) 77,1576
Voting options Number of votes Percentage
(of the total number of persons who took part in the voting)
“Aye” 8 781 347 98,7122
“Nay” 81 0,0009
“Abstained” 113 724 1,2784

Invalid votes 458

Quorum and voting results on Agenda item 7
7. Introduction of changes into the “Regulations for the Board of Directors of PSC VSMPO-AVISMA Corporation”.
Number of votes possessed by the persons included into the list of persons authorized to take part in the general meeting 11 523 294
Number of votes possessed by the persons – owners of the placed shares holding the voting authority at the general meeting 11 529 538
Number of votes possessed by the persons who took part in the general meeting 8 895 911
Quorum for this item was secured (%) 77,1576

Voting options Number of votes Percentage
(of the total number of persons who took part in the voting)
“Aye” 8 781 097 98,7094
“Nay” 81 0,0009
“Abstained” 113 974 1,2812

Invalid votes 458

Quorum and voting results on Agenda item 8
8. Introduction of changes into the “Regulations for the Director General of PSC VSMPO-AVISMA Corporation”.
Number of votes possessed by the persons included into the list of persons authorized to take part in the general meeting 11 523 294
Number of votes possessed by the persons – owners of the placed shares holding the voting authority at the general meeting 11 529 538
Number of votes possessed by the persons who took part in the general meeting 8 895 911
Quorum for this item was secured (%) 77,1576

Voting options Number of votes Percentage
(of the total number of persons who took part in the voting)
“Aye” 8 781 112 98,7095
“Nay” 81 0,0009
“Abstained” 113 974 1,2812

Invalid votes 443

Wording of the resolutions passed by the General Meeting

Resolution on Agenda Item 1.
To approve the annual report, annual financial statements (including Profit and Loss Report) of the Company for 2006.

Resolution on Agenda Item 2
To approve allocation of the Company’s profit / losses based on the results of 2006 fiscal year, including:
- to pay dividends on ordinary shares in cash in the amount of 50,83 roubles per ordinary share not later than by the end of the fiscal year;

- to pay remunerations to the members of the Board of Directors based on the results of 2006 fiscal year in the aggregate amount of 2,450,000 roubles;

- to pay remunerations to the members of the Internal Auditing Committee based on the results of 2006 fiscal year in the aggregate amount of 532,000 roubles.

Resolution on Agenda Item 3.
To elect the following members of the Board of Directors: Aleshin A. V., Besedin V.A., Voevodin M.V., Melnikov N.K., Tetyukhin V.V., Chemezov S.V., Shelkov M.E.

Resolution on Agenda Item 4.
To elect the following members of the Internal Auditing Committee: Golovushkin A.A., Zabolotskaya N.M., Pryanichnikova N.I., Ryzhova T.E., Tanaev A. F., Uglov O.B., Yakovleva L. K.

Resolution on Agenda Item 5:
To approve Baker Tilli Rusaudit LLC, Moscow as the Company’s Auditor.

Resolution on Agenda Item 6:
To introduce changes into the Bylaws of PSC VSMPO-AVISMA Corporation

Resolution on Agenda Item 7:
To introduce changes into the “Regulations for the Board of Directors of PSC VSMPO-AVISMA Corporation”.

Resolution on Agenda Item 8:
To introduce changes into the “Regulations for the Director General of PSC VSMPO-AVISMA Corporation”.