Press release

Increase in the membership of JSC “EMAlliance” Board of Directors

19.07.2010

Following the decision of JSC “EMAlliance” sole shareholder – the company Auburn Investments Limited (Cyprus) - the membership of the Board of Directors of JSC “EMAlliance” was increased from 5 to 7 members. New members of the Board of Directors are: Igor Parkhomenko, Counsellor of JSC “EMAlliance” General Director on financing strategic and Alexey Dubinchin, Head of JSC “EMAlliance” Tax and Law Department.

JSC “EMAlliance” President Timur Avdeenko, JSC “Gasprom oil” Deputy General Director on external assets management Kirill Kravchenko, Managing Director of the Group “Sputnik” Dmitry Betanely, Doctor of Science, professor of economics and finance of SI “High School of Economics” Ivan Rodionov and Karapatakis Andreas, Managing Director of A.J.K. Bureau of Consultants Ltd. hold their seats in the Board of Directors.

Moreover, the sole shareholder of JSC “EMAlliance” adopted a resolution to omit dividends under equity shares for 2009 and use the obtained profit for working capital replenishment.

The Annual Report summarizing the results of JSC “EMAlliance” activities for 2009 was approved by the sole shareholder decision, annual financial statements for 2009 included profit and loss reports. ZAO “BDO” was selected for auditing the company.

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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