URALCHEM announces the results of the Annual General Meeting of Shareholders of Kirovo-Chepetsk Chemical Works, Open Joint Stock Company

Russia, Moscow – 1 July, 2009 – URALCHEM, OJSC (“URALCHEM”), one of the largest producers of nitrogen ad phosphate fertilizers in Russia and the CIS, today announced the decisions made at the Annual General Meeting of Shareholders of Kirovo-Chepetsk Chemical Works, OJSC (Kirovo-Chepetsk, Kirov Region) on 30 June, 2009.

The shareholders passed the following resolutions:

1.      To approve the Annual Report of Kirovo-Chepetsk Chemical Works, Open Joint Stock Company (“KCCW, OJSC” or “Company”) for 2008, accounting statements of KCCW, OJSC for 2008, and profit and loss statement of the Company for 2008.

2.      To approve the distribution of income of KCCW, OJSC for 2008.

3.      To pay dividends for 2008, except for the income distributed as dividends for nine months of the financial year:

• the total amount of 2,376,139 roubles and 50 kopecks, at 7 roubles and 23 kopecks for one registered privileged share shall be distributed on class A registered privileged shares of KCCW, OJSC;
• the total amount of 7,417,618 roubles and 43 kopecks, at 7 roubles and 23 kopecks for one ordinary registered share shall be distributed on ordinary registered shares of KCCW, OJSC.

The total dividend declared for 2008, including the dividend declared for nine months of 2008 shall be:

• the total amount of 1,302,186,889 roubles and 50 kopecks, at 3,962 roubles and 23 kopecks for one registered privileged share shall be distributed on class A registered privileged shares of KCCW, OJSC;
• the total amount of 4,065,049,828 roubles and 88 kopecks, at 3,962 roubles and 23 kopecks for one ordinary registered share shall be distributed on ordinary registered shares of KCCW, OJSC.

The shareholders also elected the following members to the Board of Directors:

1.      Mikhail V. Genkin;
2.      Viktor N. Zorkin;
3.      Sergey A. Drinevskiy;
4.      Alexander L. Lychagin;
5.      Viktor I. Medvedkov;
6.      Dmitry V. Osipov;
7.      Elena B. Eskina.

Additionally, the shareholders elected members of the revision commission and approved the auditor of KCCW, OJSC and the new version of the Company’s Charter.