OREANDA-NEWS. September 7, 2012. Novorossiysk Commercial Sea Port Group (“NCSP Group” or the “Group”) (LSE: NCSP, MICEX-RTS: NMTP) announces that an Extraordinary General Meeting of Shareholders (EGM) of its subsidiary OJSC “Novorossiysk Ship Repair Yard” took place on 31 August 2012.

The meeting was held at Dockers Club, bld. 16, Portovaya St., Novorossiysk, Krasnodar Region, Russian Federation.

The meeting was attended by shareholders owning 5,947,810 voting shares of OJSC “Novorossiysk Ship Repair Yard” (at the end of discussion of the last issue on the meeting agenda), which represents 95.5241% of the total OJSC “Novorossiysk Ship Repair Yard” voting shares in issue.

The following decisions were made on the issues on the meeting agenda:

1. To terminate the authority of the current Board of Directors.

2. To elect to the Board of Directors of OJSC “Novorossiysk Ship Repair Yard”:

§ Dennis Afanasov,

§ Sergey Khodyrev,

§ Gregory Menshikh,

§ Ilya Novoselsky,

§ Alexander Popov,

§ Marat Shaydaev,

§ Sergey Svertilov,

§ Anton Vishanenko,

§ Vladimir Zhaglovsky.

Open Joint-Stock Company “Novorossiysk Ship Repair Yard” (NSRZ Ship Repair Yard) is a subsidiary of NCSP Group. NSRZ Ship Repair Yard operates one of the largest ship repair facilities and dry-docks on the Russian Black Sea coast. NSRZ Ship Repair Yard’s repair assets include two unique floating dry-docks, powerful gantry cranes and cargo-lifting machinery. In addition to its ship repair services, NSRZ Ship Repair Yard provides stevedoring services, concentrating on shipment of metals cargoes.