OREANDA-NEWS. February 11, 2009. The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, today announced the results of a Board of Directors meeting.

NDC’s Board, meeting Tuesday, Feb. 10, approved proposed changes in the Provision for NDC’s Committee on Innovations, Technologies and Products amending the name to the Committee on Innovations and Products. The Board also approved the planned expansion of the list of organizations whose representatives may be elected to the Committee and an increase in the committee’s membership to a maximum 12 persons. The Board also approved a new version of the Provision for NDC’s Committee on Innovations and Products.

The company’s directors agreed to the early termination of the powers of the following Committee members at their request: Pavel Burov, Deputy Chief of Treasury, GPB (OJSC), and Valery Golovanov, Director of Corporate Debt Financing Department, “NOMOS-BANK” (Open Joint-Stock Company). The Board elected three new members of the Committee: Dmitry Ishutin, Deputy Chairman of Depository Services Department, ING Bank (Eurasia) CJSC; Irina Smyslova, Head of Methodology, Reporting and Control Directorate in the back office, OJSC “URALSIB”; and Konstantin Volkov, President of National Securities Market Association (self-regulatory non-commercial organization).

Accordingly, NDC’s Committee on Innovations and Products now includes the following members:
1 Maria Ivanova  Director for Development, NDC Committee Chairman
2 Tatiana Chepeleva Project Director, OTKRITIE Brokerage house JSC
Deputy Chairman
3 Konstantin Volkov President of National Securities Market Association (self-regulatory non-commercial organization)
4 Polina Goloschapova Head of Operations Department, Bank Credit Suisse (Moscow) CJSC
5 Dmitry Ishutin Deputy Chairman of Depository Services Department, ING Bank (Eurasia) CJSC
6 Anna Kuznetsova Deputy General Director, MICEX Stock Exchange
7 Igor Marich Vice President, MICEX
8 Irina Smyslova Head of Methodology, Reporting and Control Directorate in the back office, OJSC “URALSIB”
9 Elena Tchaikovskaya Head of Department for Financial Market Regulation and Development, Bank of Russia

NDC’s Board of Directors approved a draft Charter for NDC, the joint stock company into which NDC is to be reorganized. The Board also decided to forward the draft Charter to NDC members in accordance with the plan of reorganization into a joint stock company for 1Q 2009.

The Board of Directors took into consideration a report for 4Q 2008 by NDC’s Internal Control Department and authorized NDC’s Director to take the necessary measures to implement the recommendations included in the report.