OAO TMK - Result of EGM

RNS Number:7830L
OAO TMK
15 January 2008

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January 15, 2008 PRESS RELEASE

Result of EGM

TMK, one of the world's largest oil and gas pipe producers and the market leader
of the Russian pipe industry, today announces that its shareholders duly
approved all the resolutions proposed at the Extraordinary General Meeting of
Shareholders (EGM), which took place on December 25th, 2007, in the form of a
postal vote.

The following were approved by shareholders:

- Decision to approve interim dividends, for the first 9 months of 2007, of RUR
3.63 per share (approximately USD* 0.60 per GDR). A total of RUR 3,168,993,630
(approximately USD* 130.0 mln.) will be paid out as dividend by February 24th
2008.

- Proposal to amend the Regulations on the Management Board.

- Decision to approve transactions regarding loan agreements between OAO "TMK"
and its subsidiaries, associated with the financing of TMK's Strategic
Investment Programme and the restructuring of the company's credit portfolio and
of its subsidiaries. Approval of OAO "TMK"'s guarantees for its subsidiary,
Seversky Tube Works (STZ), with respect to a loan from France's Societe Generale
to partially finance the acquisition of a Fine Quality Mill (FQM) from the
Danieli Corporation (Italy).

*As of January 15, 2008, the Russian Central Bank exchange rate stood at 24.2913
RUR/USD.

OAO "TMK" (www.tmk-group.com)

Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and one
of the three global market leaders.

In 2006, TMK sold approximately 3 million tonnes of pipes. TMK supplies to
companies in more than 60 countries.

TMK production facilities are located in Russia and Romania:

• Volzhsky Pipe Plant;
• Seversky Tube Works;
• Taganrog Metallurgical Works;
• Sinarsky Pipe Plant;
• Orsky Machine Building Plant;
• Truboplast pipe coating company;
• SC TMK-ARTROM SA;
• SC TMK-Resita SA.

For further information please contact:

TMK PR Department:
Sergey Ilin
Tel: +7 495 775 7600 ext. 2149
Email: pr@tmk-group.com
Or visit: www.tmk-group.com

This information is provided by RNS
The company news service from the London Stock Exchange

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