2 Sep 2008 07:00
MAGNITOGORSK IRON AND STEEL WORKS
Open Joint Stock Company
OJSC MМК
Press-release
Magnitogorsk 29.08.2008
The Extraordinary Shareholders` Meeting of the Magnitogorsk Iron & Steel Works (OJSC MMK) Board of Directors Adopted a Resolution on Payment of Dividends for the 1st half of 2008
On August 29, 2008 the Extraordinary Shareholders` Meeting of the OJSC MMK Board of Directors was held. The Board of Directors adopted a resolution on payment of issued ordinary share dividends for the 1st half of the 2008 financial year in the amount of RUB 0,382 (inclusive of tax) per share.
Additional Information on MMK:
The Magnitogorsk Iron and Steel Works OJSC (MMK) is among the world's largest steel producers and one of the leaders of Russia's steel industry. The Company is a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of value added goods. In 2007 the Company produced 13.3 m tonnes of crude steel, and 12.2 m tonnes of commercial products. Sales under US GAAP amounted to USD 8.2 bn, with net profit standing at USD 1.8 bn.
Contacts: Press-secretary Elena Azovsteva +7 3519 24 90 82 E-mail: azovtseva@mmk.ru
Head of IR Evgeny Kovtunov tel: +7 3519 24 93 55 E-mail: kovtunov@mmk.ru
Finsbury: Brian Cattell Peter RussellSophia Matveeva +44 207 251 3801