The extraordinary general meeting of Chelyabinskhleboproduct shareholders resulted in the decision concerning the early termination of powers of the following members of the company’s Board of Directors: Ms K. Strimlina, Mr V. Bruev, Ms K. Makagonova, Mr K. Shamsutdinov, Mr Zh. Lisin, and Mr I. Korolev.

Natalia Arsentieva, Sergey Weinstein, Sergey Volodarchuk, Natalia Zakirova, Vyacheslav Karandasov, Natalia Rusina, and Alexei Toporov were elected the new Members of the Board.

The shareholders also decided to raise the company’s authorized capital up to 5m RUR through the additional registered share issues of 4,898,587 shares with face value of 1 RUR each. The shares are to be placed privately.

In addition, the attendees agreed to elect Marina Ustinova the company’s General Director starting October 19, 2006.