On June 22, 2012 Ms. Indira Kaliyeva, the Chief Financial Officer of Caspian Services Inc. went on maternity leave. The board of directors has appointed Andrey Yuryev to act as the interim Chief Financial Officer of the company during the term of Ms. Kaliyeva's maternity leave. Mr. Yuryev has been employed as the company's Financial Reporting Manager since November 2007. In that capacity Mr. Yuryev has been responsible for the preparation of the company's consolidated financial statements and disclosures contained in the company's periodic reports filed with the U.S. Securities and Exchange Commission. He is also responsible for supervision of the company's financial reporting department. Mr. Yuryev also previously served as the acting Chief Financial Officer of the company from May 2010 through June 2010. Prior to joining the company Mr. Yuryev was employed with PriceWaterhouseCoopers in Kazakhstan from February 2006-October 2007 as a Senior Consultant in its Assurance Department.