Resolutions of the OJSC MMK Board of Directors

 On March 21, 2008, a meeting of the OJSC MMK Board of Directors took place.
The Board of Directors decided to recommend to the Annual General Shareholders’ Meeting to approve the distribution of profit and losses for the 2007 Financial Year and pay    dividends on placed ordinary registered shares of the Company in the amount of RUB 0.502 (including tax) per share.
The Board of Directors constituted the Company’s Collective Executive Body, the Management Board, increasing the number of its members to 23 persons.
The Board of Directors also determined the list of information to be made available to the shareholders during preparation for OJSC MMK’s Annual General Shareholders’ Meeting, and the procedure for providing such information, approved the report of the Company’s executive bodies regarding implementation of the Board of Directors’ resolutions, the report on the activities of the Board of Directors’ Committees, and approved a number of interested party transactions.