Management of Kluychevsk ferroalloy works JSC decided to hold the annual meeting on May 24, 2006. The points on the agenda include confirmation of the annual report and electing the Board members. Besides, the shareholders will have to consider full delegation of management to Russian Special Alloys, a managing company. Kluychevsk Concentrating Mill Ltd. and Kluychevsk Marble and Granite Works Ltd. may also be soon managed by the above-mentioned company.

The same issue of delegation will be considered by the shareholders of Russian Chrome 1915 (Pervouralsk, Sverdlovsk Region) on June 30, 2006, the two companys’ spokesperson said to UrBC representative.