Annual general meeting of JSC "Kaluga turbine works"

Annual general meeting of JSC "Kaluga turbine works" (JSC "KTW") was held on June 23, 2008.

General meeting has approved the annual report of the Company, accounting reporting, including profit and loss account, for 2007.

The Board of Directors is elected as follows:

On behalf of JSC “Power Machines”: Alexander Rantsev (Director for Strategic Development and Controlling), Vadim Chechnev (Director for Economics and Finances), Nicolay Sidorenko (Director for Technical Development), Vladimir Grigorovich (Director for safety and regime), Roman Serikov (Deputy Director for Corporate Law);

On behalf of JSC “Atomenergomach” (JSC “Atomenergoprom” structure): Kirill Komarov (JSC “Atomenergoprom” Deputy Director), Sergey Kuleshov (Director for Corporate Management, JSC “Atomenergomach”), Larisa Zabrodskaya (Director for Government and Stakeholder Engagement, JSC “Atomenergomach”);

On behalf of JSC Kaluga Turbine Works: Yuri Maximov (director General).

General meeting has elected the audit commission consisting of six people.

Shareholders have approved supply agreements, paid services agreements and transaction with associated economical company “Turbomontage“ subsidiary economic company of JSC “KTW” interested in, and which may be made in the future.

“Rosexpertiza”, Kaluga was approved as Auditor of the Company for 2008.

General meeting has adopted the resolution not to pay dividends for common and preferred equities of the Company and to use all profits of JSC “KTW” according to results of 2007 financial year for Company’s needs financing.