Result of EGM

23 Jan 2008 10:35

OJSC Magnitogorsk Iron &Steel Works23 January 2008 OJSC MMK has announced the completion of a interested party transaction approved by the Extraordinary General Shareholders' Meeting on January 21, 2008 OJSC MMK has issued a First Demand Guarantee under the facility agreement(Facility Letter) signed by BNP-Paribas (Suisse) SA, Geneva, Switzerland with aMMK Group company, MMK Trading AG, Zug, Switzerland. The loan facility isintended for pre-export and trade financing. The transaction value is USD600,000,000, or over 5% of the Company assets' book value which made thetransaction subject to approval by the general shareholders' meeting inaccordance with Russian law. Contacts: Investor relations Evgeny Kovtunov Tel.: +7 3519 24 93 55 E-mail: kovtunov@mmk.ru Press service Elena Azovtseva Tel.: +7 3519 24 90 82 Fax: +7 3519 24 80 24 E-mail: azovtseva@mmk.ru This information is provided by RNS The company news service from the London Stock Exchange