Notice of AGM

RNS Number:5690C
Urals Energy Public Company Limited
08 May 2006

For Immediate Release

                      Urals Energy Public Company Limited

              Announcement of Annual General Shareholders Meeting

Urals Energy Public Company Limited ("Urals Energy" or the "Company") AIM:UEN
announces that it will hold its 2006 Annual Shareholders Meeting at 10:00 am on
1 June 2006 in London, England.

As previously announced on 18 April 2006, Urals Energy has signed a definitive
Sales and Purchase Agreement for the $148 million acquisition of the
Dulisminskoye field together with the LTK transportation facilities, all located
in the Irkutsk region of Eastern Siberia. The acquisition is expected to close
in June 2006.  As indicated in the 18 April 2006 announcement, in order to
finance the transaction, the Company intends to undertake a private placement of
new ordinary shares to selected institutional investors to be arranged by Morgan
Stanley Securities Limited.

To conduct the private placement as currently envisaged, Urals Energy is
proposing and has recommended approval of certain actions at its Annual General
Shareholders Meeting, including seeking approval to increase its authorized
share capital and to disapply the pre-emption rights in relation to a specified
number of ordinary shares of Urals Energy, including the shares to be issued in
the private placement.  Further information on the Company's funding
requirements and financing plans relating to the acquisition, as well as further
information on the Dulisma/LTK acquisition, will be provided in due course.

Other resolutions to be considered at the Annual General Meeting include the
approval of the annual audited accounts, the election of certain directors and
other matters recommended by the Board of Directors.

A proxy statement describing in detail the resolutions to be voted on at the
meeting is being mailed to all shareholders of record as of 8 May 2006 and is
now available via the Company's website: www.uralsenergy.com.

                                     *****

This Announcement is not a solicitation or offer to subscribe for shares in
Urals Energy and is being made solely for the purpose of announcing the Annual
General Meeting and the matters to be brought before the shareholders of Urals
Energy


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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