The Board of Directors recommended to pay annual dividends in the amount of 4 roubles 30 kopecks per one share

The Board of Directors recommended the General Meeting of TMK Shareholders to take decision on payment of annual dividends, based on 2006 Company results, in the amount of 4 roubles 30 kopecks per one share.
Also, The Board of Directors made a decision to approve the agenda of the General Meeting of Shareholders, and set the holding date to the 27^th of June, approved TMK Group IFRS consolidated results for the year ended 2006.