OREANDA-NEWS. At a meeting of the Board of Directors of JSC Sovcomflot on 22 July 2008, Mr. Sergey Naryshkin was elected Chairman of the Board.

The Board of Directors took notice of the information presented by the Sovcomflot President & CEO Sergey Frank in respect of the operational performance results of the Company and its subsidiaries for the First Half year 2008. According to the preliminary results the Group’s gross revenues (freight and hire receivable) increased by 27 per cent and exceeded USD 800 million (on the comparable figure for the same period 2007).

The following members of Sovcomflot Board of Directors, were elected at the Annual General Meeting of Sovcomflot Shareholders on June 30, 2008:

Mr. S. Naryshkin – Chief of Staff of the Presidential Executive Office (Chairman of the Sovcomflot Board of Directors)
Mr. A. Kostin – Chairman and CEO of VTB Bank
Mr. Yu. Medvedev – Deputy Head, Federal Property Agency
Mr. A. Misharin – Deputy Minister of Transport
Mr. G. Nikitin – Deputy Head, Federal Property Agency
Mr. Ch. Ryan – Chief Country Officer and CEO, Deutsche Bank Group in Russia
Mr. A. Sokolov – Head of Department, Ministry for Economic Development
Mrs. E. Titova – Managing Director, First Deputy Chairman of the Management Board,
Morgan Stanley Bank
Mr. A. Tikhonov –Head of Department, Ministry of Transport
Mr. N. Tokarev – President, JSC Transneft
Mr. S. Frank – President & CEO, JSC Sovcomflot.