Corporation President A.I. Fedorov was elected the Chairman of the Yakovlev Design Bureau Board of Directors at Yakovlev BoD meeting on June 19, 2004. Mr. O.F. Demchenko, Yakovlev Design Bureau Director General, was elected Deputy Chairman of the Yakovlev Design Bureau Board of Directors.

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In April 2004, IRKUT Corporation concluded a deal on acquiring the Yakovlev Design Bureau shares. In result of the deal, IRKUT’s share in the registered capital of the Yakovlev Design Bureau made out 75.46%. Funds for shares acquisition were raised by means of an Initial Public Offering of IRKUT shares among domestic and foreign investors end March 2004.