BERIEV Aircraft Company

No. 87 dt. 20 June, 2005.

On June 17, 2005 the shareholders' meeting of the Open Joint-Stock Company "BERIEV Aircraft Company" took place. Upon approving an annual account and annual reporting as well as distributing the profits gained as a result of 2004, the shareholders of the Open Joint-Stock Company "BERIEV Aircraft Company" have chosen new members of the Board of directors. The Board of directors is presented by 9 persons as follows: Eugeniy M. Ageev; Valeriy B. Bezverhniy; Valentin V. Boev; Sergey I. Vasilenko; Victor A. Kobzev; Alexander A. Kuleshov; Vladimir S. Prisyazhniuk; Alexey I. Fedorov; Vladimir L. Chirikov. The shareholders' meeting approved the following documents: Provision "About Development Fund of the BERIEV Aircraft Company", Provision "About Dividend Policy, Procedure for Dividends Calculation and Dividends Payment to the Shareholders of the BERIEV Aircraft Company", as well as "Dividend Policy of the BERIEV Aircraft Company for the period of 2005-2009". The shareholders' meeting approved a large transaction on the transfer of the non-interest bearing notes of the BERIEV Aircraft Company in the amount of 69.2675 million USD to the Federal State Unitary Enterprise "Rosoboronexport". BERIEV Aircraft Company 1 Aviatorov sq., Taganrog, 347923, RUSSIA Tel.: ++7 (86344) 4-99-01, 4-98-39 Fax: ++7 (8634) 64-74-34