OREANDA-NEWS. June 07, 2010. GM-AVTOVAZ regularly scheduled Board of Directors meeting took place in Togliatti. The shareholders openly and constructively discussed the joint venture’s 2009 performance results, highlighting that ongoing success has made it possible for the company to resume paying dividends to the partners. Together with JV Management, the Board also discussed operational issues and future investment ideas for the Company, reported the press-centre of GM-AVTOVAZ.

Following recent restructuring moves within General Motors, some changes have taken place in Board membership. Particulalry James P. Bovenzi, John R. Buttermore and Hans Demant joined the Board on the part of GM. Accordingly, membership of the Board of Directors now includes the following persons: on the part of JSC "AVTOVAZ":

Igor Komarov — JSC "AVTOVAZ" President

Oleg Lobanov — Executive Finance and Corporate Development, Vice President

Polina Grishina — Corporate Management Vice President

on the part of General Motors:

James P. Bovenzi, Managing Director GM Russia

John R. Buttermore, GM International Operations Manufacturing Vice President

Hans Demant, GM Vice President Global Intellectual Property Rights

on the part of EBRD:

Michael Hoffmann — Head of EBRD Office in Volga Federal District.