30 June 2009 the annual general meeting of shareholders of OAO OMZ.

The meeting was attended by shareholders who are registered in the register as at 12 May 2009.

According to the agenda of the shareholders were reviewed and approved all the decisions on the agenda: Annual report on the activities of the society in 2008, the annual financial statements, including income statement, elected a new Board of Directors and the Audit Commission approved company Eych El Bee Vneshaudit and CJSC KPMG as external auditor for the audit of financial statements for 2009 under the laws of the Russian Federation and to audit consolidated financial statements for 2009 under International Financial Reporting Standards, respectively, approved changes in number 2 in the charter and approved the transaction, of which there is interest, and also approved the remuneration of members of the Board of Directors and the provision of compensation for members of the Board of Directors.

As a result of meeting of shareholders elected a new Board of Directors of OAO OMZ in the number 9, which includes:

1. Bakatin Dmitri Vladimirovich - Consultant of the Moscow representation of Sputnik Investment Limited (Cyprus).

2. Borisov Evgeniy Ivanovich - Director General of JSC Management company - strategic assets.

3. Grishchenko Sergey - Executive Director of the Department of Corporate Finance Gazprombank (Open Joint Stock Company).

4. Danilenko Victor G. - General Director of OMZ.

5. Sergei Ivanov - the first vice-president of Gazprombank (Open Joint Stock Company).

6. CARCINO Farid Mashutovich - Deputy Chairman of Gazprombank (Open Joint Stock Company).

7. Matveev Alexey - Deputy Chairman of Gazprombank (Open Joint Stock Company).

8. Seppo Remes - President of Kiuru Partners LLC.

9. Skaterschikov Sergey - Chairman of the Board of Directors of Skate Capital.

shareholders also approved the decision not to pay dividends on ordinary shares of OAO OMZ on results in 2008, according to the preferred shares of OAO OMZ to pay dividends in accordance with the charter of the company at 12% per annum of the par value of shares, net profit in the amount of 99 million rubles, the remainder to the company after payment of dividends on preferred shares, to use to finance investment projects in accordance with the plan capital investments.
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