OJSC “Company “M.video” Board of Directors took a decision to convene the Annual General Meeting of Shareholders of the Company on June 24, 2008

OJSC “Company “M.video” (RTS, MICEX: MVID), one of the Russia’s largest consumer electronics retailers, announced the decisions taken by the Company’s Board of Directors.

Board of Directors OJSC “Company “M.video” took a decision to convene the Annual General Meeting (AGM) of Shareholders on June 24, 2008. The Board set May 14, 2008 as the record date for the AGM.

The Board of Directors also took a decision to recommend at the forthcoming AGM, to announce and to pay no dividend award for the year 2008 and to allocate the proceeds from the Company’s activities for the purpose of its expansion program implementation.

The Board also approved the agenda of the AGM, as well as the documents to be provided for the persons entitled to take part in the Annual General Meeting (the documents will be available at the Company’s web-site starting from 4 June, 2008).