TMK, one of the world’s leading oil and gas steel pipe producers, announces that the OAO “TMK” Board of Directors has decided to convene an Annual General Meeting of Shareholders (AGM) on June 28, 2011 in Moscow.

TMK’s Board of Directors nominated candidates to the Company’s Board of Directors and to the Revision Commission. It also approved the following agenda for the AGM:

- approval of the annual report and financial statements, including profit and loss statements;

- distribution of the Company’s profit for the year 2010;

- election of the Board of Directors;

- election of the Revision Commission;

- approval of the Company’s auditor;

- approval of related party transactions.

TMK’s Board of Directors has also recommended that the AGM adopt a resolution to pay dividends for 2010 in the amount of RUB 0.85 per ordinary share of TMK stock. Total dividends will amount to RUB 796,948,179.90.