Polymetal announces, that the annual meeting of the shareholders took place on 25th of May, 2005. On the annual meeting a few questions were discussed: consolidation of the Annual Report and financial statements, distribution of income of the 2004 financial year, choosing the Board of Directors members and audit commission.

Polymetal Board of Directors was chosen at the meeting, it includes the representatives of the ICT Group. Alexey Bolshakov is the Chairman of the Board. ICT Group is the 100% owner of Polymetal.