The board of directors of OJSC “Izhneftemash” has decided to hold the annual shareholders’ meeting  on March 18, 2008. The main issues on the agenda will be adoption of the 2007 annual report and financial statements of OJSC “Izhneftemash”.  The shareholders are to elect the sole executive body of OJSC “Izhneftemash”, the board of directors and the audit committee, appoint the auditor and approve transactions of OJSC “Izhneftemash”. The meeting will be held in the conference room of OJSC “Izhneftemash”.

Holders of A-type preferred stock do not have voting rights at the general shareholders’ meeting of OJSC “Izhneftemash”.

 

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OJSC “Izhneftemash (a member of the Association of Oil and Gas Equipment Manufacturers) is one of the major Russian oilfield equipment manufacturers and a strong player in the oil and gas equipment market.   OJSC “Izhneftemash” is a well equipped company, with a range of products including more than 40 items, including small and medium power mud pumps, automatic  drilling tongs,  cementing units and cement mixers for well cementing,  beam-pumping units and sucker rod pumps, iron roughnecks, etc. Some types of sophisticated equipment offered by Izhneftemash, such as drilling tongs AKB-3M2 and  KBG-2, are unique in Russia. Izhneftemash products are used by more than  70 oil companies in the Russian Federation.