A regular Board of Directors meeting of OJSC "Power Machines" was held

A regular meeting of the Board of Directors of OJSC “Power Machines” was held on January 24, 2007 in the form of voting in absentia. The Board of Directors approved the lists of candidates to the Board of Directors and Auditing Commission of OJSC “Power Machines” to be considered at the extraordinary General Meeting of Shareholders of the company to be held on February 22, 2007.

In accordance with the proposals received from the shareholders the Board of Directors approved the following list of candidates to the Board of Directors of OJSC “Power Machines” for approval at the extraordinary General Meeting of Shareholders.

Sergey Batekhin, Deputy General Director of ZAO “Interros”;
Boris Vainzikher, General Director of OJSC “Power Machines,” member of the Management Board, Technical Director of RAO “UES of Russia”;
Michael Suess, member of the Management Board, Siemens;
Vyacheslav Voronin, member of the Management Board, Managing Director of the business unit “Service” of RAO “UES of Russia”;
Alexander Chuvaev, Managing Director of OJSC “Power Machines”;
Ekaterina Salnikova, Deputy Finance Director, Corporate governance (Corporate governance Director), ZAO “Interros”;
Hans-Juergen Wio, Vice President, Siemens (Russia), President of Power production, transmission and distribution department, Siemens LLC (Russia);
John Sleeman, independent Director.

The Board of Director also proposed to approve the list of 12 candidates to the Auditing Commission.