Highlights of the annual general meeting of shareholders upon 2010 results

17 June 2011

Shareholders approved annual report, annual financial statements, including profit and loss statement as well as profit/losses distribution upon 2010 results. Net profit in the amount of USD* 155,15 million distributed as follows: Reserve fund (USD 1,21 million), production development (USD 133,82 million) and dividend payments (USD 20,11 million).

The decision to pay dividends upon 2010 on ordinary shares of the Company in the amount of USD 0,0005 in cash per 1 ordinary share of the Company was approved as well. The dividends are paid in 60 days from the day when the decision is made.

The following members were elected in the Board of Directors:

1. Svetlana Balaeva – Head of Investments Department, IDGC Holding, JSC
2. Alexander Branis – Director, Prosperity Capital Management (RF) Ltd.
3. Dmitry Gudzhoyan – General Director, IDGC of Center, JSC
4. Madina Kaloeva – Deputy Director of Economy Regulation and Property Relations Department in the Ministry of Energy
5. Mikhail Kurbatov – Member of Management Board, Deputy General Director, IDGC Holding, JSC
6. Aleksey Perepelkin – Member of Management Board, Deputy General Director on Corporate Governance and Property, IDGC Holding, JSC
7. Alexander Popov – Deputy Director General – Head of Personnel, IDGC Holding, JSC
8. Alexey Sergutin – Director on Economics, IDGC Holding, JSC
9. Alexander Starchenko – Director on Energy, NLMK, JSC
10. Roman Filkin – Co-Director, electric power energy, machinery, Representative Office, Prosperity Capital Management (RF) Ltd.
11. Aleksander Shevchuk – Deputy Executive Director, The Investor Protection Association, non-commercial organization

The following members were elected in the Internal Audit Commission:

1. Izumrud Alimuradova – Head of Internal Audit Department,  IDGC Holding, JSC
2. Vladimir Arkhipov – First Deputy Head of Security Department, IDGC Holding, JSC
3. Igor Bogachev – Leading Expert of Division for Internal Audit and Examination of Internal Audit and Risk Management Department, IDGC Holding, JSC
4. Galina Meshalova – Chief Expert of Division for Investment Activity Control of Internal Audit Department, IDGC Holding, JSC
5. Olga Sinitsina – Chief Expert of Division for Internal Audit and Examination of Internal Audit and Risk Management Department, IDGC Holding, JSC

PCM Top-Audit, Limited was approved as the Company’s Auditor.

Company’s Articles of Association and internal documents in the new edition were approved.

 *Central Bank of Russian Federation annual average exchange rate for 2010:  USD 1 = RUB 30,3765

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Сообщение о хищении электроэнергии