Annual Meeting of the Company’s Shareholders

The 2013 general annual meeting of LGEK shareholders
took place on May 26, 2013. As per the agenda, the following documents were
reviewed and approved by the participants: the annual report of the Company for
2012 and the financial report for 2012 including profit and loss statement. The
meeting made a decision regarding the distribution of earnings for 2011. As in
previous years, there will be no dividend payments. The earned profit will stay
in the Company to be used for financing its capital investments. The
shareholders approved a new auditor ("AZHUR-Lipetsk" LLC) to perform mandatory due diligence
procedures pertaining to the Company's accounting and financial statements for
2013.
The shareholders' meeting elected a new Board of Directors which now includes Nikolay
F. Korvyakov, Vladimir A. Migita, Aleksander V. Pariy, Suren A. Saakyan, Sergey
N. Troshkin, Nikolay N. Shilin and
Sergey G. Argentov. A newly elected Review and Revision Committee consists of Arkady
K. Strizhevsky, Natalya A. Volosnykh and Elena V Haritonova.