General Meeting of Shareholders of OJSC "Power Machines" elected new Board of Directors

Extraordinary General Meeting of Shareholders of Open Joint Stock Company “Power Machines – ZTL, LMZ, Electrosila, Energomachexport” (OJSC “Power Machines”) was held on February 22, 2007. The shareholders meeting elected the new Board of Directors of OJSC “Power Machines.”

The following two new directors joined the new Board of Directors, consisting of eight members: Michael Suess, Vice President, Energy Production group, Siemens (Germany) and Alexander Chuvaev, Managing Director of OJSC “Power Machines.”

The following persons – members of the previous Board of Directors were re-elected: 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”; Vyacheslav Voronin, member of the Management Board, Managing Director of the business unit “Service” of RAO “UES of Russia”; Ekaterina Salnikova, Deputy Finance Director, Corporate governance (Corporate governance Director), ZAO “Interros”; Hans-Juergen Wio, Vice President for Siemens (Russia), President, Power production, transmission and distribution department, Siemens LLC (Russia) and John Sleeman, independent Director.

In accordance with the agenda of the meeting the shareholders elected the Auditing commission consisting of 7 members and approved new editions of the company Charter, Regulations on the Auditing Commission, Regulations on the Board of Directors and the Management Board of the company as well as Regulations on the General Meeting of Shareholders.