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03.07.2006

"TMK" holds Annual General Shareholders’ Meeting

The OAO \"TMK\" Annual General Shareholders’ Meeting took place on 30 June 2006.

The meeting elected the Board of Directors and Audit Committee, confirmed the annual report and annual accounting statements. OOO Ernst and Young was confirmed as the official auditor for OAO TMK. The distribution of profit as per the results of the 2005 financial year was also confirmed: the meeting took the decision to pay out annual dividends of 0.5422 rubles per one common share of OAO TMK.

Petr Golytsyn, Andrei Kaplunov, Adrian Kobb, Joseph Maru, Sergei Papin, Dmitry Pumpyansky, Jeffrey Townsend, Igor Khmelevsky, Alexander Shiryaev and Mukhadin Eskindarov were elected onto the Board of Directors. At the session of the Board of Directors, held after the meeting, Dmitry Pumpyansky was elected Chairman of the Board of Directors.

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