JSC Concern “Kalina” will pay 2 rubles of dividends per 1 ordinary share with nominal 70 rubles. Dividends will increase 2 times in comparison with 2001. It was decided to spend 16 729 816 rubles for paying dividends. This decision was taken on general meeting which had been carried out on 25 April 2003. On this meeting annual report, financial statement and income statement were approved. Shareholders elected Boar of Directors: Timur Goryaev – general director of the Concern, Nikolay Geller –development director of the Concern, Elena Petrichenko – producing director of the company, Alexander Petrov – chief financial officer of the Concern, Valery Chuvatin – trading policy director of the company, Johan Vreeman – EBRD, Yan Dawijngaert - EBRD. CJSC “Audit centre “Ural-Audit ”was elected as auditor again.

Authorized capital of the Concern amounts 585543560 rubles, number of ordinary shares with nominal 70 rubles is 8364908. One of main shareholders of the Concern is Timur Goryaev who owns 66.04% in authorized capital of the Concern. European Bank of Reconstruction and Development owns 19.23% in authorized capital. The list of shareholders was compiled on the base of data from register on 28 March 2003. At the end of operating of 2001 1 ruble of dividends per 1 ordinary share with nominal 70 rubles were paid. And at the end of operating 2001 dividends 0.5 rubles per share were paid.

Addition information you can get at press-secretary of Concern “Kalina”

Sergey Kazanzev, tel/fax. (3432) 65-83-06, e-mail: pressa@kalina.org