The annual shareholder meeting held by UglemetBank JSC on April 24, 2006 resulted in the decision to pass a dividend for 2005. Of these undistributed profits, 500,000 RUR will be given to General Director Fund, 200,000 RUR to the Board of Directors Fund, and 600,000 RUR to Social Development Fund.

The shareholders approved of the annual report for 2005 and of the accounting report, including the P & L statement. The following Board Members were elected: Konstantin Panfilov, Dmitriy Konstantinov, Tatiana Polosina, Alexander Ovchinnikov, Vyacheslav Fedotov, Alexei Vorobyov, Ryana Doronina.

The shareholders also elected the inspection committee and the returning board as well as the Auditors (Audit Contact Ltd. and BKR-Intercom-Damianu-Yarel Ltd.).