03.03.2005

Regular meeting of Nizhnekamskneftekhim board of directors

Regular meeting of the board of directors of Nizhnekamskneftekhim Inc. was held on March 3 and it was decided to have the general annual meeting of shareholders on April 22, 2005.

The lists of persons entitled to participate in the shareholders meeting will be prepared in accordance with the register of shareholders as of March 5, 2005.

The board of directors unanimously approved the agenda of the meeting of Nizhnekamskneftekhim shareholders, the lists of candidates to shareholder members; list of information to be provided for shareholders; forms and text of a bulletin for voting at the general meeting of shareholders.

The board also came to a decision to bring its proposals of dividend payment for consideration of the general shareholders meeting. Based on the results of financial and economic activities of the enterprise in 2004 it is suggested that more than 339 million rubles shall be aimed at dividend payment (18.55% of the face value of shares).

Also provisions were reviewed for holding tenders in order to select the auditing companies and committee members were appointed to perform the selection.

Members of the board of directors reviewed and approved the financial and production activities of subsidiary enterprises of Nizhnekamskneftekhim Inc.

Based on the information of RTS stock exchange as of March 3, 2005 the capitalization of Nizhnekamskneftekhim Inc. (aggregate cost of all placed shares) amounted to 1.058 billion US dollars. Capitalization increased by more than 24% compared to the similar period of time of last year.

Press service
Nizhnekamskneftekhim Inc.
423574, R.F. Republic of Tatarstan, Nizhnekamsk, Nizhnekamskneftekhim Inc.
Tel.: +7 ( 8555) 37 – 78- 64
Tel/ fax : +7 ( 8555) 37 – 74 - 92
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