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Syberian-Urals Aluminum Company

September 2, 2003

Joint general meeting of Nadvoitsy Aluminium and Siberian-Ural Aluminium Company shareholders held

Moscow, September 2, 2003: A joint general meeting of Nadvoitsy Aluminium and OAO SUAL shareholders was held September 1, 2003. The meeting was attended by shareholders of OAO SUAL and Nadvoitsy Aluminium that hold a consolidated share above 94,4% of the overall number of votes admitted to participation in joint meetings.

Shareholders approved new versions of OAO SUAL’s Articles of association, Regulations for “The General Shareholders Meeting of OAO SUAL”, and Regulations for “OAO SUAL Board of Directors”.

This meeting is one of formal procedures required to finalize incorporation of Nadvoitsy Aluminium to OAO SUAL as SUAL’s subsidiary. Earlier shareholders of the two companies voted unanimously for incorporation of Nadvoitsy Aluminium to OAO SUAL.

OAO SUAL as a single legal entity currently integrates Bogoslovsky Aluminium (BAZ), Ural Aluminium (UAZ), Irkutsk Aluminium (IrkAZ) and Kandalaksha Aluminium (KAZ) in the status of the company’s subsidiaries.


Notes to Editors

Nadvoitsy Aluminium is locates close to Nadvoitsy settlements (republic of Karelia). The smelter was built in 1954. Since 1995 it has been under reconstruction and conversion from Sodeberg technology of aluminium production to the technology of pre-baked anodes, one of the most environmentally-friendly technologies of today. The smelter employs 1900 people. The smelter’s production volume in 2002 reached a record-breaking level of 74 thousand tonnes with the design capacity of 67 thousand tonnes of aluminium per annum.

 

 

 

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