OREANDA-NEWS. July 06, 2011. The contract signing ceremony was held in the Office of the Company in the presence of the Members of the Executive Committee and top-managers. On the behalf of the Company, the contract was signed by Mr. Alexander V. Lutsenko, Chairman of the Board of Directors.

Mr. Lutsenko expressed his hope that Mr. Frappat will fulfill successfully the five-year plan (until 2016), presented to the Shareholders of the Company and will take the Company to a new level of development. On his side, Stephane Frappat expressed his gratitude for the confidence given to him and assured that he will use all his abilities to achieve the objectives set by the Group Shareholders.