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TMK Holds Annual General Meeting of Shareholders

TMK announces that the Annual General Meeting of Shareholders was held in Moscow on June 28, 2011.

Shareholders approved the annual report and financial statements for the 2010 financial year, including the Company’s profit and loss statement for 2010. Shareholders also elected the Board of Directors and the Revision Commission. They also approved related-party transactions. OOO “Ernst & Young” was approved to be the Company’s auditor.

Shareholders also voted to pay annual dividends of RUB 0.85 per one ordinary share (nominal value of RUB 10 per share). Total dividend payments will amount to RUB 796,948,179.90.

Mikhail Alekseev, Andrei Kaplunov, Sergei Papin, Thomas Pickering, Dmitry Pumpyanskiy, Geoffrey Townsend, Igor Khmelevsky, Alexander Shiryaev, Alexander Shokhin and Mukhadin Eskindarov were elected to TMK’s Board of Directors. Five out of ten Directors are independent.

TMK’s 2010 Annual Report is accessible online at http://ir.tmk-group.com/phoenix.zhtml?c=200536&p=irol-reportsAnnual and will be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:

Financial Services Authority

25 North Colonnade

Canary Wharf

London

E14 5HS

TMK Holds Annual General Meeting of Shareholders (100.43 KB,pdf)