On Tuesday’s General meeting there were approved Annual Report, balance sheet and Income and Losses Report of Transneft JSC.

Distribution of profit under the result of 2003 was approved in the amount of RUR 15 845 765 867, of which:

· RUR 3 961 682 580  - dividends on ordinary and privileged shares;
· RUR 63 169 040 - cover funds for deferred debt liability calculated over 2002;
· RUR 8 487 580 913 - for production development and other similar actions to create new assets;
· RUR 3 333 333 333 - for credit repayment.