Volga to pay dividends of RUR 72.25 per share for 2006

Jun 28, 2007. /Lesprom Network/. Shareholders meeting of Volga elected new body of the board of directors. Shalva Breus was elected chairman of the board. The new members are: Vakhtang Badjelidze (first deputy CEO of ETC), Alexander Bakhutashvili (consultant of CEO of Arbacom), Yuriy Petukhov (director of the bureau of strategic planning of Iniziativa) and Fedor Romanov (deputy CEO and director of legal issues of Iniziativa). The shareholder meeting also decided to pay dividends for 2006 in total amount of RUR 853 187 750 (or RUR 72.25 per share). This amount was received following the results of the company’s activities in first nine months of 2006 and was accepted as final for full financial year 2006. At January 1, 2007 authorized capital stock of Volga amounted to RUR 1.1 billion. 98.98% of Volga shares are controlled by the company (Nizhniy Newsprint Holdings Ltd. The rest 1.02% of the share stock belongs to a large number of shareholders.