OREANDA-NEWS. On 14 May a regular meeting of KAMAZ Board of Directors took place in Moscow.

The board directors heard the reports of Sergey Kogoghin – Director General of KAMAZ Inc., Glyuza Imanova – Deputy Director General of Economy and Finance, Andrey Maksimov – Chief Accountant of the Company, Vladimir Dergachov – Director of Legal Affairs, Yelena Milinova – Director of Corporate Financing Department.

Board of Directors approved:
– Draft Annual Report 2007 of KAMAZ Inc.;
– Annual Accounting Records of KAMAZ Inc.;
– Business Plan Performance Report of KAMAZ Organizations for three months of 2008.

There was considered the issue of distribution of KAMAZ profit realized by the results of work in 2007.

Taking into account the fact that in 2007 the company bought back 10% of its own shares, and also the need to invest in the company’s development, Board of Directors made the decision to recommend that KAMAZ Shareholdersґ Meeting shouldn’t pay dividends for 2007.

There were made a decision to render a lump’sum material assicnance to the companyґs pensioners.

KAMAZ Shareholdersґ Meeting is scheduled to be held on June 24, 2008 in Naberezhnye Chelny.