Press release

New composition of the Board of Directors of JSC “EMAlliance” was selected

16.02.2010

With the decision of the sole shareholder of JSC “EMAlliance” a new composition of the Board of Directors was selected.

New members of the Board of Directors are:

“Sputnik” Group Managing Director Betaneli Dmitri,

Managing Director of A.J.K. Bureau of Consultants Ltd. Karapatakis Andreas,

Ioannides Loizou & Company Auditing firm advisor Loizou Georgios,

General Director Adviser on strategic financing of JSC “EMAliance” Igor Parkhomenko,

Head of Legal and Tax Department of JSC “EMAlliance” Alexey Dubinchin,

Top Manager of Capital Management Department of A.J.K. Bureau of Consultants Ltd. Philippou Socrates withdrew membership of JSC “EMAlliance” Board of Directors.

Igor Parkhomenko is the Chairman of the Board of Directors of JSC “EMAlliance”

Commenting on the decision, Igor Parkhomenko stated that the involvement of such specialists as Betaneli Dmitri is required for the Board of Directors work efficiency improvement and creating a more free and up-to-date corporate governance system. «This is one more important step in implementation of capital formation strategy on the public market for widening and diversification of JSC “EMAlliance” business” – he noted.

Reference:

JSC “Energomashinostroitelny Alliance” (EMalliance) is one of the leaders of domestic power machine-building industry, having international experience and competence in designing, fabrication and complete supply of “boiler islands” for TPP, including EPC-contracts.

“EMAlliance” possesses more than 70,83% of common shares of Plant “Krasny Kotelschik”. EMA’s engineering branches are located in Taganrog, Podolsk, Barnaul and Ivanovo. Enterprise personnel is 6000 employees, among them 700 highly qualified designers.

The present day the company is able to design boilers with steam generation from 100 to 4000 tones per hour, (inc. for the equipment with to-, above-, ultra supercritical steam conditions. EMAlliance possesses the technology of designing and fabrication of HRSG for CCP and performs engineering, complete supply of the equipment for WtE plants and bio fuel processing enterprises and develops new technologies in renewable energy sources, pollution abatement system, coal gasification, SCC.

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