MNP Group

Press Center

Annual General Meeting of Krasnoye Sormovo Shipyard

Nizhniy Novgorod, June, 4, 2009. Annual General Meeting was held at Krasnoye Sormovo Shipyard, MNP Group. The meeting adopted the annual report and annual accounts, including statements of income.

Sales proceeds in 2008 amounted 4,580.9 million rubles (in 2007 - 3,350.5 million rubles), sales profit –117.6 million rubles, dead loss – 130.0 million rubles. The decision not to pay dividends on ordinary and to preference shares is accepted.

Board of directors of Krasnoye Sormovo Shipyard was elected at the meeting: Alexandr Busakov, Nikolay Zharkov, Vadim Malov, Sergey Votintsev, Sergey Nikolaev, Andrey Ivanov, Alexandr Chistov.

Nikolay Zharkov was elected as Director General of the shipyard.

The auditing firm “Yumita” was approved as the auditing company of the shipyard.

MNP Group incorporates the leading Russian shipyards: Krasnoye Sormovo Shipyard (Nizhniy Novgorod), Volgograd Shipyard as well as Volgo-Caspian Design Bureau, Sormovskoye Mashinostroeniye (Nizhniy Novgorod) and Volgograd Special Engineering Plant.