Share capital:

Ordinary shares

At 30 January 2006, the number of issued NLMK ordinary shares was 5,993,227,240. The ordinary shares are traded on the RTS and MICEX Stock Exchanges (Moscow, Russia).

Global Depositary Shares (GDSs)

The number of issued NLMK Global Depositary Shares (GDSs) was 42m with each GDS representing 10 ordinary shares. Admission and commencement of unconditional dealings on the London Stock Exchange took place at 09:00 on 15 December 2005.

Dividend information

NLMK's dividend policy provides for a minimum annual dividend payments of 20% of US GAAP net income and targets an average dividend payment during a five-year period of 30% of US GAAP net income.

The following table shows the evolution of NLMK's dividends:

* The dividends were declared in Russian rubles (RUR). The amount of dividends per share indicated in US dollars are based on the RUR / USD Central Bank exchange rate as at the date of dividends approval. 

**In May 2004, following a revaluation of fixed assets, NLMK issued 5,987,240,000 additional common shares with a par value of 1 ruble each. Prior to this issue, NLMK’s share capital comprised 5,987,240 common shares. These additional common shares were distributed to all existing shareholders of NLMK in proportion to their shareholding at the date of distribution such that each eligible shareholder received 1,000 additional shares for each share held.

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