Issuers News

Amtel Vredestein intends to increase the number of the Executive Council members from 4 to 6, the company informed.

The election will be carried on at the special meeting Oct. 4.

The new members involve representatives of Vredestein Consulting; Vredestein Banden B.V.

The vice president of MAGNA International inc H.Hedl is nominated to take the seat of the new director of the Supervisory Council.

Amtel Vredestein involves the tire plant in Holland (Vredestein Banden) and Russian Holding Amtel Vredestein which share on the market covers 30% in Russia.

In its turn it includes Amtel Povolzhye (Kirov) and Amtel Chernozemye (Voronezh) as well as Amtel Kuzbass (chemical entity). In Nov. 2005 Amtel Vredestein carried on IPO and raised $201.7mln through the placement of 27.1% at $11 against declared $13-16 in the range.

The holders involve Sudhir Gupta (founder, 29.27%), Alfa (26.14%), Singapour-based Temasek (9%), A.Gurin, director general (2.73%), ING and Citi (8.01%), top managers - 0.05%; 24.8% being in circulation.

The net losses in 2006 declined 11.6 fold to $7mln from $81mln in 2005. The revenues increased 23% to $823mln; revenes from sales being up 47.5% to $509mln.