Dear Shareholders of JSC SOLLERS (formerly FSC Severstal-avto)

In view of the questions the Company has received about the manner and timeframe for dividend payment we ask you to take into account the following.

The Company wholly confirms its willingness to strictly follow the decisions about dividend payment made at the previous shareholders’ meetings. The dividends announced by the Company for 2007 and six months of 2008 will be paid out in the period established in the Company’s Bylaws. In accordance with the terms of the bylaws of JSC SOLLERS, the period for dividend payout should not exceed 730 days from the day of the decision to make the payout.

We call your attention to the fact that dividend payout to persons and entities on the income recipient list for the Company’s shares (for each dividend payout period) is made in accord with the individual bank account details for the shareholders/income recipients in the shareholder registry. The payout is made using bank account details that are provided ahead of time by the shareholder/income recipient to the Company in a corresponding statement.

The obligation of providing bank details, addresses, and other such information lies with the shareholder.

Income recipients who have not previously provided bank details to the Company, and shareholders, whose bank details have changed from what was previously given to the Company, should send the Company a written statement, in any form, containing complete personal information: last name, patronymic, first name, complete passport information, registration address and bank details for dividend transfer.

To this statement must be attached a copy of a bank certificate with account details.

If the statement is sent by mail, the signature of the income recipient on the statement should be confirmed by a notary.

The postal address for the Company (for statements) is: 123317, ul. Testovskaya, 10, door 2, JSC SOLLERS

You also may present the statement directly to the Company’s Registrar, in person, at the following addresses:
JSC Registrator R.O.S.T., Moscow, ul. Stromynka, 18, building 13 (first floor);
the Vologda branch of JSC Registrator R.O.S.T., Vologda, ul. Komsomolskaya, 55, office 103;
as well at the other addresses of the regional branches of JSC Registrator R.O.S.T, given on the official website (http://www.rrost.com/about/branches/)

We kindly request that in your statement you give all the bank details necessary for payment, specifically:
Bank name;
Name of the bank branch (if applicable);
Russian Central Bank Identifier Code (RCBIC);
Bank correspondent account;
Settlement account (interbranch settlement account) (if applicable);
Recipient’s account.

To avoid technical problems with dividend payout through bank transfers, we recommend that shareholders verify the functionality of the bank account, the details of which have been previously sent (submitted) to the Company, and that shareholders whose accounts have ceased to function send to the Company a new statement containing the corrected information.

We also ask to keep in mind that if a shareholder has had changes in their passport information (receipt of a new passport, or change of last name or registration address), about which the shareholder did not inform the Company’s Registrar in due time, along with the written statement it will be necessary to personally contact the Registrar to enter the corresponding changes into the shareholder register.

Information about announced (calculated) and paid dividends