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2 October 2006

Extraordinary General Meeting (EGM) Results

Novolipetsk Steel (LSE: NLMK), the leading Russian steel producer, announces the results of voting on the resolution proposed at the Extraordinary General Meeting held on 29 September 2006.

The following resolution was put to NLMK’s shareholders on a poll at the Extraordinary General Meeting, and the results of voting were as follows:


     Votes For                  

Votes  Against

Votes Abstained


To approve
the dividends
for the first 
half of 2006
in the amount
of 1.5 ruble per common share

5 521 839 828

580 897

36 036


Further to the Dividend Declaration on 16 August 2006, the Board of Directors approved a record date for the half-yearly dividend of 16 August 2006 (00:00).   

NLMK transfers funds for dividend payments on Global Depositary Shares (GDSs) to the depositary bank on 23 November 2006. Depositary bank sets payment date no later than 5 days after receipt of funds. Dividends on GDSs will be paid, by default, in U.S. dollars (USD) based on USD/RUR spot F/X rate on the day of currency conversion by the depositary bank.