OREANDA-NEWS. On 30 May 2008 MDM Bank announced the results of its Annual General Meeting of shareholders.

At the AGM, the Bank’s shareholders re-elected the Board of Directors, keeping intact the previous composition: Oleg Viyugin, Sergey Popov, Martin Andersson, Luqman Arnold, Edward Nassim, Olga Selivanova and Sergey Shapiguzov. In accordance with Russian law, the Board will elect its chairman and appoint committee members at its next scheduled meeting. The re-election of all of the sitting Board members signals the desire to maintain consistency and to continue developing the Bank in line with its updated universal banking strategy approved in 2007.

The AGM also approved Ernst & Young as MDM Bank’s auditor for 2008.

In addition, the AGM adopted several changes to the Bank’s charter and by-laws, as well as approved the annual report for 2007. These documents can be found on the Bank website: www.mdmbank.com/about

The minutes of the AGM, which was held on 26 May 2008, are available in Russian on MDM Bank’s website: www.mdmbank.ru/events