The majority of companies in UnitedMediaHolding group in Ukraine and Russia have established Supervisory Boards (in Ukraine) and Boards of Directors (in Russia) in accordance with local laws. The Boards are composed of representatives of UnitedMediaHolding and representatives of other shareholders, if any are present.

The Supervisory Boards (Boards of Directors, Company Boards) act on the basis of legislation , statutory documents and regulations for them. Supervisory Board meetings at each enterprise are held at least quarterly.

The Supervisory Board’s major powers and obligations include:

• set goals and tasks for the enterprise for the year; budget
• preliminary analysis of plans and budgets for the company for the current year prepared by company management and adjust themthroughout the year, where necessary
• quarterly analysis of plans and budget execution
• advanced preparation and approval of plans for the launch of new projects
• inspection of the company’s financial and economic activities

As a rule, UnitedMediaHolding group is represented on the Supervisory Board of each company it controls by the group’s president, director general, area manager and a representative of UMH group’s financial department.