NEWS (April, 2005)

CSC 'Aviastar-SP' PR Department. Tel.: 29-17-18, 29-28-07, 29-09-22 e-mail:d483@aviastar-sp.ru

REGULAR BOARD MEETING OF CSC “AVIASTAR-SP” TOOK PLACE IN MOSCOW

    The main subject of the Board of Directors meeting of CSC “Aviastar-SP”, held on 22 April in Moscow at the Ministry of Industry and Power Engineering of RF, was preparation for shareholders’ annual general meeting, fixed on 9 June h.a. Valery Voskoboinikov, Chairman of the Board of Directors, Deputy Director of the Ministry of Industry and Power Engineering of RF presided over the meeting.
    The Board members discussed and preliminary approved annual report and balance of CSC ”Aviastar-SP” for 2004. The agenda and order of shareholders’ meeting conduct as well as other materials provided to shareholders were ratified.
    In connection with the forthcoming meeting of Victor Mikhailov, Director General, with representatives of European Bank for Reconstruction and Development for discussion of finance documentation, the Board members gave a process report concerning TU-204-120CE aircraft delivery to People’s Republic of China and the agenda of impending negotiations.

“AVIASTAR-SP” BOARD OF DIRECTORS MEETING

    On the 1st of April, the meeting of Board of Directors took place at CSC“Aviastar-SP”. Among the participators were Valery Voskoboinikov-deputy director of defensive and industrial complex department of Ministry of Industry and Power Engineering of Russian Federation, chairman of the Board, Boris Zenkov-president of LLC “Sirocco Aerospace Russia”, Sergey Kartashov- LLC “Sirocco Aerospace Russia” representation office director, Felix Myasnikov- director general of JSC ”Aviaexport”, Victor Mikhailov- director general of CSC “Aviastar-SP”, Alexander Polyakov- vice-president of JSC ” Tupolev”, Victor Samokhin- chief inspector of civil aircraft airworthiness control department of Federal service of transport supervision, Igor Shevchuk-president of JSC “Tupolev”.
    Participation of Sergey Morozov-region governor, Boris Zotov- chairman of region legislative assembly, Vasily Gvozdev- chairman of municipal council, Sergey Ermakov- mayor of Ulyanovsk and other region and local leaders emphasized the extreme importance of this event.
    The agenda included the account of executive directorate, the discussion of current economic situation at the enterprise, as well as shareholders’ general meeting concerning the 2004 fiscal year results and other questions. It was decided to hold the annual general meeting on the 9th of June in Ulyanovsk; the next regular meeting of Board of Directors is to take place on the 22d of April in Moscow.
    Summing up the results of the Board, Victor Mikhailov, director general of the plant, called the professional stuff preservation and new brand of TU 204-300 airplane construction one of principle achievements of the plant. This year, 4 aircraft of this model are to be built and delivered to “Vladivostok Avia “ airline, the 1st one is to be delivered by April. Two liners are being prepared for delivery to People’s Republic of China. This year, the orders for 12 machines for “ Ilyushin finance” leasing company and other airlines are to be considered as firm.
    Sergey Morozov, the governor, noted that authorities of the region expressed confidence in the future of the plant. The first step in real assistance was the decision of legislative assembly to repay CSC “ Aviastar-SP” the debt of 47 million roubles. Other decisions on reducing tax burden were nearing adoption. Boris Zotov, chairman of region legislative assembly, supported the governor’s idea concerning participation of all branches of local authorities in economic upturn of national aviation leader, which CSC “ Aviastar-SP” is.