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HSCI’s Board of Directors Recommends No Dividends Be Paid for 2011

Moscow, 21 May 2012 – OJSC HSCI – The Human Stem Cells Institute (“HSCI”, MICEX: ISKJ), one of Russia’s leading biotech companies, today announced the decision of the Company’s Board of Directors on the agenda of the Annual General Shareholders’ Meeting on the results of 2011.

HSCI’s Annual General Shareholders’ Meeting (hereinafter – AGM) will be held at 11 a. m. on June 21, 2012, at the Renaissance Moscow Hotel located at 18/1, Olympiysky prospect, Moscow, Russian Federation.

Shareholders as of record on May 3, 2012, will be entitled to participate in the AGM.

Considering the size of HSCI’s net profit from 2011, the Board of Directors has recommended that the AGM make a decision not to allocate the Company’s 2011 net profit of RUB 7.022 million and not to pay annual dividends.

This decision reflects the Company’s new business plan, which entails a more robust investment program to be implemented by making use of profits from 2011 results.

Full Version of the Press Release (216 kb)

21 May 2012