On February 18, 2004, at Aeroflot Board of Directors meeting 17 persons were approved to be elected to the Company's Board of Directors consisting of 11 persons; thier elections are to be conducted at Aeroflot annual stockholders meeting this June.

There were confirmed the following candidates presented by the Government of Russian Federation:

• Secretary of State - First Deputy Property Minister of the Russian Federation - Braverman Alexander Arnoldovich;
• Board of Directors' Chairman - Aeroflot President - Zurabov Aleksandr Yuryevich;
• Deputy Minister of Economic Development and Trade of Russian Federation - Isaev Yury Olegovich;
• Russia's FSB Department Deputy Chief - Kornilov Georgy Viktorovich;
• Deputy Chief of RF Government Administration - Kopeikin Mikhail Yuryevich;
• First Deputy Transportation Minister of the Russian Federation - Neradko Aleksandr Vasilyevich;
• Deputy Minister of Finance of Russian Federation - Petrov Andrey Yuryevich;
• RF President's Advisor - Shaposhnikov Yevgeny Ivanovich;
• Advisor of RF President Administration Chief - Shkolov Yevgeny Mikhailovich.

There were proposed (and confirmed) stockholders and stockholders' plenipotentiaries who work in Aeroflot: Braverman A. A., Neradko A. V. and Shaposhnikov Y. I., and also Russia's Transportation Ministry Department Head Goryachev Vladimir Sergeevich, Aeroflot Director General Okulov Valery Mikhailovich and First Deputy Director General Antonov Vladimir Nikolaevich.

The following persons presented by Aeroflot stockholder - AKB National Reserve Bank Board were also approved as candidates:

• First Deputy Chairman of AKB National Reserve Bank Board - Danilitsky Anatoly Antonovich;
• Deputy Chairman of AKB National Reserve Bank Board - Dushatin Leonid Alekseevich;
• AKB National Reserve Bank Vice President - Butrin Mikhail Robertovich;
• AKB National Reserve Bank Vice President Shablin Vladimir Nikolayevich.

Finger Gregory Moiseevich, NCH Advisors Inc. Moscow Department Executive Officer, was confirmed as a candidate to Aeroflot Board of Directors; he was proposed by the stockholder - Lindsell Enterprises Limited.

The Board of Directors confirmed 9 candidates to the Company's Auditing Commission consisting of 5 members.

Aeroflot Board of Directors took into consideration written notice of the Company's Board of Directors' member Lebedev A. Y. that since he has been elected a Deputy of the State Duma at the Federal Assembly of the Russian Federation he terminates his authorities as Aeroflot Board of Directors' member according to Article 97 of RF Constitution and Article 6 of the Federal law "On the Status of a Member of the Federation Council and the Status of a Deputy of the State Duma at the Federal Assembly of the Russian Federation".