The Board of Directors of JSC IDGC Holding held a regular open meeting on February 26, 2009.

The meeting discussed the Company’s current financial condition, the development of committees of the Board of Directors, the formation of the Management Board of JSC IDGC Holding, the election of the Company’s Director General, and other corporate issues.

The Board of Directors found JSC IDGC Holding’s business operations to be satisfactory. It was suggested that the Company continue measures to optimize its costs amid the adverse impacts of the global financial crisis on the economy and make its activities more transparent.

The Board of Directors also decided to form one more committee, the Strategy Committee.

The meeting elected Mr. Nikolay Nikolayevich Shvets as JSC IDGC Holding’s Director General by a majority of votes.

Mr. Nikolay Nikolayevich Shvets was born May 17, 1956, in the village of Velikiye Budishcha, Poltava Region.

From 1986 to 1995, he served at the General Headquarters of the Air Defense Forces.

He joined Promexport Federal State Unitary Enterprise in 1998 and then he worked for Rosoboronexport State Corporation from 2001.

In 2004, he was appointed as an assistant to the Director General of Rosoboronexport State Corporation.

He was the First Deputy Chairman of the Amur Region Government from August 6, 2007.

He was the Chairman of the Amur Region Legislative Assembly from March 12, 2008.

Mr. Shvets is the Secretary of the Political Council of the Amur Regional Branch of United Russia, head of United Russia’s faction in the Amur Region Legislative Assembly.

Candidate of Science (Economics).

Married with a daughter.