Annual General Shareholders Meeting took place at MMK today.

All the items on the agenda were considered. The resolutions included the approval of the annual report, annual accounting statements and income statement.

The shareholders approved the payment of dividends for the financial period of 12 months of 2009 in the amount of RUB 0,37 (including tax) per ordinary share.

The shareholders approved the following composition of the Board of Directors: A.Gorodissky, K.Levin, Sir David Logan, V.Rashnikov, Z.Rustamova, R.Takhautdinov, O.Fedonin, Peter Charow, V.Shmakov and S.Krivoshchekov. Five members of the Board of Directors are independent. The composition of the Auditing Committee was approved. Deloitte & Touche CIS were appointed auditors of MMK.

Speaking at the Annual General Meeting today, Victor Rashnikov, Chairman of MMK, commented: «As for MMK operations in 2009, it should be mentioned, that we successfully overcame this challenging period. The crisis validated the strategy pursued by our company. The goal of this strategy is to develop new high-value added product types marketable in perspective world markets, first of all – in Russia.

In 2009 we built a solid platform to raise the company’s efficiency and to further improve operational and financial results as the economy recovers».

The first meeting of new MMK Board of Directors also took place. The Board of Directors approved the new composition of the Management Board of MMK, including: R.Takhautdinov, O.Fedonin, A.Chernov, A.Mastruev, V.Andriyanov, V. Antonyuk, Y.Bodiaev, N.Lyadov, M. Zhemchueva.