Severstal to pay dividends for 2001 in its subsidiaries' shares

The annual general shareholders' meeting of Severstal, a Russian steel maker, (Cherepovets, the Volgograd region of Russia) made a decision to pay dividends for 2001 in shares of subsidiaries of Severstal. According to the press service of the company, one share of Severstal-Auto and one share of Severstal-Resource will be paid per share of Severstal.

Severstal-Auto, a joint-stock company, was registered in March 2002, and is the managing company of the car division of Severstal-Group as well as the holder of controlling stakes of the Ulyanovsk Automobile Plant and Zavolzhsky Automobile Plant. The total number of shares of Severstal-Auto with a nominal value of RUR12.5 (around $0.4), according to the data of the securities issue registration of the Russian Federal Commission for Securities Markets, is 22,074,192.

Severstal-Resource if the managing company of the raw materials division of Severstal-Group. According to the Russian Federal Commission for Securities Markets, the number of the registered shares of Severstal-Group with a nominal value of RUR19.5 (around $0.62) is 22,074,192.

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