OREANDA-NEWS. May 12, 2008. ALROSA Company’s Supervisory Board analyzed the company’s 2007 financial and business activities during a meeting.  The meeting was chaired by ALROSA Company’s Chairman of the Board, the Russian Federation Deputy Prime Minister and Minister of Finance Alexei Kudrin, reported the press-centre of ALROSA.

In 2007, the ALROSA Group (together with ALROSA-Nurba Company) produced approximately \\$2,37 billion worth of diamonds, which is 2,4% more than originally estimated. Diamond sales totaled \\$2,79 billion and net profit rose to RUR 14 132,9 million. 
  
The Supervisory Board preliminarily approved ALROSA Company’s annual, financial, audit, and financial controller reports.  Final approval for the reports will be voted on during the annual shareholder’s meeting.

ALROSA Company’s Supervisory Board recommended to the annual shareholder’s meeting to approve the following allocation of profits:

Capital investment – RUR 11 540,7  million;

Long term financial investment – RUR 228  million;

Geological exploration, research and development –RUR 67,7 million;

Fixed assets – RUR 56,5 million; and

Dividends – RUR 2240,7 million (RUR 11200 per share).

During the Supervisory Board meeting, the date and location for ALROSA’s annual shareholders meeting was also approved. The ALROSA Company shareholders meeting is scheduled for June 21, 2008 in Mirny City (Republic of Sakha (Yakutia)).

The annual shareholders meeting agenda includes the following issues:

1.    Approval of ALROSA’s 2007 Annual Report;

2.    Approval of ALROSA’s 2007 Financial Report (including the profit and loss statement);

3.    Approval of profit allocation;

4.    Approval of dividend allocation (amount, payment period);

5.    Election of ALROSA Company Supervisory Board members;

6.    Election of ALROSA Company Financial Controller Commission members;

7.    Approval of the ALROSA Company auditor; and

8.    Approval of interested party transactions.

The ALROSA Company Supervisory Board also approved the FBK Company as ALROSA’s auditor for 2008 and named Alexander Mahrachev as a member of the Executive Board. Mr. Mahrachev was appointed Director of Udachny Integrated Mining and Processing Complex (Udachny GOK) in March 2008.