The Moscow Bank for Reconstruction and Development (MBRR) held an annual General Meeting of its shareholders today.

The General Meeting appointed auditors for 2003 and elected a new 11-member Board of Directors of the Bank. In particular, the Bank's Board of Directors now comprises: S. Savchenko, JSFC Sistema Vice President; S. Shchebetov, Head of JSFC Sistema's Corporate Development Department; V. Inozemtsev, Head of JSFC Sistema's Audits Department; F. Andreyev, First Vice President of AK ALROSA; A. Arutyunov, Chairman of the Bank's Management Board; M. Belayev, Vice President of VAO Intourist; V. Bolshakov, President of ZAO Sistema International Investment Group; A. Buyanov, First Vice President of JSFC Sistema; T. Yevtushenkova, MTS Vice President; Yu. Ponomarev, Head of the Bank's Board, Managing Director of East-West United Bank (Luxemburg); and V. Chervony, Deputy General Director of OAO NGTS. The shareholders appointed Deloitte&Touche to act as the company's auditor in 2003.

The General Meeting of the Shareholders resolved against paying annual dividends for 2002.