Onezhsky issued 614 065 ordinary nominal non-documentary shares

Jul 07, 2005. /Lesprom Network/. Onezhsky saw and timber-processing enterprise issued 614 065 ordinary nominal non-documentary shares worth RUR 160 each. The shares will be distributed among: 1.- Excelsior Investments Limited (Cyprus), will acquire not more than 76.5% shares. 2.Loretto Pacific S.A. (Panama) will acquired not more than 23.5% hsares. Onezhsky produces sawn timber, 90% of goods are exported to Ukraine, France, Belgium, the Netherlands, Egypt, Spain, Germany, Norway. The enterprise acquired raw timber from Onegales, Nimengales, Maloshuikales.