TMK Stockholders Elect BOD

Pipe Metallurgical Company (TMK) reports an annual general meeting was held in Moscow on June 28, 2011.

The shareholders voted for declaring the dividend of 0.85 RUR per one ordinary share with face value of 10 RUR for the year 2010; the dividends thus total to 796,948,179.90 RUR.

In addition, the following BOD members were elected by the stockholders: Mikhail Alekseyev, Mukhadin Eskindarov, Andrei Kaplunov, Igor Khmelevsky, Sergey Papin, Thomas Pickering, Dmitri Pumpyansky, Geoffrey Townsend, Alexander Shiryayev, and Alexander Shokhin.

Five out of ten BOD members are independent directors.