The Annual General Meeting of Shareholders of IDGC of Volga, JSC, was held on June 10, 2011. During the Meeting the shareholders considered and approved annual report of the Company, annual accounting statements, the Company profit and loss statement for 2010. The following allocation of the Company’s profit (loss) for the 2010 fiscal year was approved:

 Based on the results of 2010, the shareholders have taken a decision that no dividends shall be paid on the Company’s ordinary shares. At the Annual General Meeting of Shareholders the Board of Directors of IDGC of Volga, JSC, was elected consisting of: Ryabikin Vladimir Anatolievich, Kulikov Denis Viktorovich, Gavrilova Tatiana Vladimirovna, Vasiliev Sergey Vyacheslavovich, Gromov Oleg Aleksandrovich, Nikonov Vasily Vladislavovich, Golubev Pavel Vladilenovich, Varvarin Aleksandr Viktorovich, Martsinkovsky Gennady Olegovich, Perepelkin Aleksei Yurievich, Pankstyanov Yuri Nikolaevich. The following persons entered the Auditing Commission of the Company: Alimuradova Izumrud Aligadzhievna, Arkhipov Vladimir Nikolaevich, Filippova Irina Aleksandrovna, Sinitsina Olga Sergeevna, Bikmurzin Adel Fyaritovich. A decision was taken to pay premium to the members of the Company's Board of Directors, who are not state officials, in the amount set in the Regulation on Payment of Premiums and Compensations to the members of the Board of Directors of IDGC of Volga, JSC approved by the decision of the annual General Meeting of Shareholders of IDGC of Volga, JSC, Minutes No. 1/2008 dated June, 07, 2008. The shareholders took a decision on approval of a new version of: the Company’s Articles of Association, Regulation on Procedure of Preparation and Holding of the General Meeting of Shareholders of the Company, Regulation on Procedure of Preparation and Holding of Meetings of the Board of Directors of the Company, Regulation on the Management Board of the Company. Nexia Pacioli, LLC, was approved as the Company’s Auditor for 2011.