Powers of the Board of Directors of the Company.

The Board of Directors of the Company include general management of the Company, except for

the matters referred by this Charter to the competence of the general meeting of shareholders.

The Board of Directors shall include the following issues:

identify priority activities of the Company;

convening annual and extraordinary general meetings of shareholders, except in cases provided

for in paragraph 8 of Article 55 of Federal Law;

Adoption of the agenda of the general meeting of shareholders;

determination of the date of compiling the list of persons entitled to attend the general meeting

of shareholders, and other issues related to the competence of the Board of Directors of the

Company in accordance with the provisions of Chapter VII of the Federal Act and associated with

the preparation and holding of the General Meeting of Shareholders;

placement of bonds and other equity securities in cases stipulated by the Federal Law;

determination of the price (monetary value) of the property, offering price and redemption of

securities in cases stipulated by the Federal Law;

acquisition of shares, bonds and other securities in cases stipulated by the Federal Law;

recommendations on the amount payable to members of the audit commission (auditor) of the

Company's remuneration and compensation and determination of the remuneration of the auditor;

recommendations on the amount of dividends and payment arrangements;

use of the reserve and other funds;

approval of the Company, except for internal documents, the approval of which is within the

Federal Law and these Articles to the general meeting of shareholders, as well as other internal

documents of the Company, approval of which falls within the competence of the executive body of

the Company;

establishment of branches and representative offices;

approval of major transactions in cases provided for in Chapter X of the Federal Act;

approval of the transactions provided for in Chapter XI of the Federal Law;

approval of the Registrar of the Company and the terms of the contract with him, as well as the

termination of the agreement;

decisions on participation and termination of participation in other organizations, except for

organizations specified by the Federal Law;

approve the issue of securities and the Report on the issue of securities;

decide on other matters provided for in this statute, federal law and the laws of the Russian

Federation.

Matters referred to the Board of Directors of the Company, may not be delegated to the executive

body of the Company.