Rosneft Holds AGS Meeting

On June 5, 2008, Rosneft’s Annual General Shareholders Meeting and Board of Directors Meeting took place in Moscow.

The Shareholders Meeting approved the Company’s annual report for 2007, annual financial statements for 2007, and profit distribution. The Meeting also approved amendments to the Company’s Charter and related-party transactions.

The Company’s net income was approved at RUB 162.022 billion, while total dividends for 2007 were set at RUB 16.957 billion (RUB 1.6 per ordinary share), a 20% increase compared to 2006. Dividends will be paid through December 31, 2008. The record-high dividends are largely the result of Rosneft’s continued business growth and improved operating efficiency.

The following nine nominees were elected to Rosneft’s Board of Directors:

• Sergey Bogdanchikov — President of Rosneft
• Andrey Kostin — President-Chairman of the Management Board of VTB Bank
• Sergey Naryshkin — Chief of Staff of the Russian President’s Executive Office
• Alexander Nekipelov — Vice-President of the Russian Academy of Sciences
• Gleb Nikitin — Deputy Head of the Federal Agency for Federal Property Management
• Yury Petrov — Head of the Federal Agency for Federal Property Management
• Andrey Reus — General Director of OJSC Oboronprom
• Hans-Joerg Rudloff — Chairman of the Management Board of Barclays Capital
• Igor Sechin — Deputy Prime Minister of the Russian Federation

The Shareholders Meeting also elected Rosneft’s Internal Audit Committee, which consists of five members. CJSC Audit and Consulting Group for Business Systems Development was appointed as auditor of Rosneft RAS financial statements for 2008.

Source: Rosneft

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