Federal Service for the Financial Markets of Russia registered the additional issue of securities of OJSC “Power Machines”

The date of the state registration of the issue: July 3, 2007.

Power Machines (hereinafter the “Issuer”) is planning to increase its charter capital by way of placement of 1,492,000,000 additional ordinary registered non-documentary shares with the nominal value of 0.01 rubles each. The total nominal value of the shares to be additionally placed by open subscription is 14,920,000 rubles.

As at the date of this press release the charter capital of the Issuer is equal to 72,169,387.08 rubles (7,216,938,708 ordinary shares with nominal value of 0.01 rubles each).

The shareholders of the Issuer will have the pre-emptive right to purchase the additional shares. The list of persons entitled to the pre-emptive right of purchase the additional shares in accordance with the Russian legislation was drawn up as at June 4, 2007. The price of placement of the additional shares will be determined upon the expiration of the term for exercising the pre-emptive right.

The Issuer discloses the information on the issue of shares in accordance with the requirements of the Russian legislation in force on its Internet site: www.power-m.ru.