29 June 2007, Moscow. OJSC Pharmstandard, a leading domestic pharmaceutical company in Russia, today held its Annual General Shareholders Meeting there the following decisions were taken:

To approve Pharmstandard’s 2006 annual report and accounts in Russian accounting standards.

To pay no dividend for the year 2006.

The following were elected as members of the Pharmstandard’s Board of Directors:

- Krylov Igor

- Kulkov Egor

- Mamchenko Natalia

- Mileyko Pavel

- Melnikov Alexandr

- Pavlova Natalia

- Pokrovskaya Olga

- Tyryshkin Ivan – independent member

- Kharitonin Viktor

Elected as members of Audit Committee were:

- Voevoda Oxana

- Klopotovskaya Svetlana

- Makarova Ekaterina

Ernst and Young LLC were appointed as the Company’s auditor for 2007.