Annual general meeting of shareholders of Power Machines took place

On the 27th of June 2008 annual general meeting of shareholders of the public limited company "Power machines - ZTL, LMZ, Elektrosila, Energomashexport ("Power machines", JSC) took place.

Shareholders of Power Machines approved the annual report and the accounting reporting of the Company for 2007.

The Board of Directors of the company in quantity eight persons was elected.

Seven directors from the previous Board of Directors have been again re-elected:
- Alexey Mordashov (the general director of "Severstal", JSC),
- Alexey Egorov (the deputy general director of "Severstal", JSC),
- Dmitry Sanin (the deputy general director on legal questions of "Severstal", JSC),
- Mikhail Zjuss (vice-president of "Energy Manufacturing" group of the company "Siemens Akciengezelshaft"),
- Hans-Yurgen Vio (vice-president of "Siemens" company in Russia),
- Kirill Komarov (the deputy director of "Atomenergomash", JSC),
- Igor Kostin (the general director of "Power Machines", JSC).

New director was introduced to the Board of Directors: Igor Voskresensky (the general director of "UniversalInvest", LLC). The shareholders meeting of "Power Machines", JSC also elected an auditing committee of the Company in the quantity of seven persons.

The auditor of the company was elected - "Rosexpertiza", LLC. The shareholders meeting has made a decision not to pay dividends according to results of the year 2007.