Annual stockholders meeting of OAO «Siberia Airlines»

26.06.2003

Today the annual meeting of Siberia Airlines has been hold. Airline stockholders of 85,37% voting shares took part in the meeting. During the stockholders meeting of Siberia Airlines the following issues were examined:

  1. Procedure of stockholders meeting.
  2. Adoption of the annual report for 2002, annual accounting report, including income statements and statements of expenses of the company for 2002.
  3. Distribution of profits and losses of the company according to the totals of 2002, including dividend payment.
  4. Adoption of the revision of the Articles of Association.
  5. Adoption of the Provision of stockholders meeting.
  6. Adoption of the Provision of Board of directors of the Company.
  7. Adoption of the Provision of the Company's Management.
  8. Adoption of the Provision of the Auditing Committee.
  9. Adoption of the Corporate Policy Code.
  10. Numerical membership resolution of the Board of directors.
  11. Election of the Board of directors.
  12. Election of the Auditing Committee.
  13. Adoption of the Company's chartered accountant.

    Alexander Windermoot, First deputy director of Siberia Airlines, made the report on the totals of production and financing activities of the company of 2002 at the meeting. Total showings of financial and economic activity of Siberia Airlines for 2002 were presented in the report:

    Showing* Value Alteration by 2001
    Number of passengers, thousand of people 2 604,4 +85,3%
    Including: inland air routes 1522,8 +84,8%
    International air routes 969,7 +73,8%
    CIS 111,9 ? 4,7 ????
    Mail and freight, tons 17 946 +59,9%
    Number of flights 19 853 +80,5%
    Flying hours of aircrafts, sum total 71 461 +63,5%
    Percentage of seat occupancy, % 73,1 -0,1%
    Percentage of enplaned traffic, % 69,9 -0,5%
    Passenger turnover, mln passengers/kilometers 7 479,4 +71,9%
    Tonne-kilometers, mln tons/kilometers 728,9 +70,1%

    *Note: flights performed under code of Vnukovo Airlines are not included in the showings Sales of proceeds of Siberia Airlines services in 2002 made up 8 292,4 million of rubles, that is 1,72 times more than the same showing in 2001. Net cost of services rendered in 2002 made up 7 042,4 million of rubles, that is 1,55 times more than in 2001. According to the working results of 2002 the company’s profit from all types of activities made up 19,6 million of rubles, retained income made up 15,2 million of rubles. Gross profit from main types of the company’s activity made up 1 250,0 million of rubles that is 4,7 times more than in 2001. According to the results of 2002 the decision not to pay dividends was taken. Stockholders voted for adoption of annual report, balance sheet, income and losses statement for 2002, adopted the Corporate Policy Code and took the decision to reduce the Board of directors from 8 to 7 members. Siberia Airlines stockholders did not adopt the revised Articles of Association and Provision of the stockholders meeting, Board of directors Provision, management Provision and Auditing committee Provision. Novosibirsk auditing company «Audit-Garant» was adopted by a majority vote once again as the chartered accountant of Siberia Airlines for 2002.


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