The AGM held at Ufalynickel JSC resulted in approving of the company’s annual report, the annual accounting report, including the P&L statement, and in distributing the profit for 2005. In this, the shareholders considered the suggestions of the Board concerning the sum of the share dividend for 2005.

The attendees approved of delegating the sole executive powers to Industrial Metallurgical Holding Ltd., a managing company. They also elected the members of the inspection committee and of the Board (namely, Sergey Adamkov, Natalia Vlasova, Konstantin Saitsev, Andrey Zubitskiy, Evgeniy Zubitskiy, Leonid Novikov, and Vladimir Farutin).

Audit Optim-K Ltd. was chosen as the company’s auditor for 2006.