At The Board Of Directors Of "Aeroflot"

05 May 2010

Session of the Board of Directors of OAO "Aeroflot" held on March 29 of this year approved main provisions and price of the deal on purchase by OAO "Aeroflot" of 30 new jets of regional class (RRJ) manufactured by "OKB Sukhoy".

To approve this major deal it was decided to hold on May 16, 2006 an extraordinary general meeting of OAO "Aeroflot" shareholders in a form of the absentee vote. March 30-th of this year is assigned as the date of listing of those entitled to participate the extraordinary general meeting.

Reviewed conditions of combination of interrelated deals on purchase by OAO "Aeroflot" of seven Airbus A321 aircraft including financing of the down payments were also approved (main conditions and amount of the deal are approved by the Board earlier).

It was taken into account that the term of delivery of one of the aircraft acquired is changed (from 3-d quarter of 2007 to the 4-th quarter of 2006) in order to increase the rate of development of the traffic and to low down delivery price of the plane. In consideration of experience of operation of available A320 family planes and with the purpose of improving of the comfort it is adopted to widen the set of auxiliary equipment and modifications relating first of all the aircraft cabins in comparison with the initial specification.

The Board of Directors approved "The Guides of Corporate Information Policy " of OAO "Aeroflot" for 2006. In accordance with the plan approved the most important information guides shall be: joining by Aeroflot of global Sky Team alliance, building of Sheremetyevo-3 terminal, modernization of the aircraft fleet, improvement of the passengers servicing, establishing of "Aeroflot" group of companies, implementation of dedicated social valuable programs, development of the corporate culture in accordance with the brand values.

The inner corporate communication policy in 2006 shall be oriented on complete awareness of the company's personnel, promotion of the values of corporate philosophy adopted in 2005, establishing of the personnel's loyalty, improvement of Aeroflot's reputation as the employer.

The Board of Directors approved candidacy of Cargo Traffic Department Director of OAO "Aeroflot" Andrey Goryashko to the position of General Director of OAO "Aeroflot CARGO" (100% of shares owned by "Aeroflot").

The Board of Directors has reviewed the report on implementation of basic decisions of the Board adopted in 2005. There were 17 sessions of the Board held in 1005 during which 81 issues were revised and more than 200 decisions were taken. Main issues discussed in 2005:

- Flight safety

- Concept of strategic development of OAO "Aeroflot"

- Restructuring and renewal of the aircraft fleet

- Activities of OAO "Terminal" and construction of Sheremetyevo-3 terminal

- Financial and business activities, development of flight network of the Company

- Development of information technologies

- The scope of organizational and technical, commercial and manufacturing measures on minimization of losses due to the higher fuel prices

In a course of discussion of this issue it was mentioned, that the adoption by the Board of decisions on principal aspects of the Company's activities and the proper implementation of these decisions facilitate stable operation and development of the Company, as well as assists in increasing of the level of its capitalization. For the year of 2005 the price of OAO "Aeroflot" securities increased twice.