OREANDA-NEWS. On 09 July 2009 was announced, that OMZ (Uralmash-Izhora Group) held its Annual General Meeting (AGM) in Moscow. All resolutions put to shareholders’ vote were duly passed.

Shareholders approved the Company’s 2008 annual report and accounts prepared to Russian Accounting Standards. A decision was made not to pay dividends on common shares, while a preferred stock dividend payout for 2008 was approved in the amount of 12% of par value.

The following members were elected to the OMZ’s Board of Directors:

1. Dmitry Bakatin – Consultant, Moscow Representative Office, “Sputnik Investment Ltd.” (Cyprus)

2. Eugene Borisov – General Director ZAO “Management Company – Strategic Assets”.

3. Victor Danilenko - CEO, OAO OMZ (Uralmash-Izhora Group)

4. Sergey Grischenko - Managing Director, Corporate Finance Department, OAO “Gazprombank”

5. Sergey Ivanov – First Vice President, OAO “Gazprombank”

6. Farid Kantzerov - Deputy Chairman of the Management Board, OAO “Gazprombank”

7. Alexey Matveev - Deputy Chairman of the Management Board, OAO “Gazprombank”

8. Seppo Remes – President, Kiuru Partners LLC

9. Sergey Skaterschikov – Chairman of the Board of Directors, Skate Capital

Shareholders approved the compensation of the Board members for their service in the 2008-2009 period as well as the By-law on the Compensation of the members of the Board of Directors for the 2009-2010 period. In addition, they elected a three-member Revision Commission.

Shareholders approved ZAO “LHB Vneshaudit” as the Company’s statutory accounts auditor and ZAO “KPMG” as the Company’s IFRS accounts auditor for 2009. A number of future interested party transactions that could be executed in the normal course of business of the Company were also approved as were certain changes to the Company Charter.