OREANDA-NEWS. June 17, 2008. Not-for-Profit Partnership “The National Depository Center” (NDC), Russia's only settlement depository servicing the full range of Russian securities and belonging to the MICEX Group, announced today that a general meeting of its members held 17 June decided to acquire additional common registered non-documentary shares of Depository Clearing Company CJSC (DCC), which services RTS securities. The company's Board of Directors had previously recommended approval of the move. Thus NDC maintains its share in DCC's authorized capital at not less than 36.96%. NDC's Director was authorized to take all necessary measures in order to acquire the additional DCC shares. 

The general meeting approved the income and expenditures budget for 2008, and a new version of the company's investment budget for 2008. The members also reviewed the report on fulfillment of the company's income and expenditures for 1Q 2008. The meeting recognized NDC's financial results for 1Q 2008 as satisfactory.   

The members have also reviewed materials related to NDC's reorganization from not-for-profit partnership to a joint stock company, including a plan of activities prepared by a working group on reorganization. According to the plan, the working group is to propose and discuss with NDC members the terms of the company reorganization by October 2008.

Sergei Lykov, Chairman of the Board of Directors, NDC, said: ''The Board of Directors is consistently working on improvement of NDC’s corporate governance system and its services. We are confident that we are forming an efficient organization working in accordance with international corporate governance standards and providing a high level of service quality for our clients.''