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Results of Regular Meeting of Rosneft’s Board of Directors

25 April 2012

Rosneft’s Board of Directors conducted a meeting by absentee ballot on April 24.

The Board decided on the placement of ruble bonds. The series 04-10 non-convertible interest-bearing documentary bearer bonds with mandatory centralized custody are worth a total of 90 billion rubles. They expire 3,640 days after placement. There is an option for early repayment at the discretion of the issuer. The bonds are to be placed for public subscription. The Board also approved the bond resolution and prospectus.

The Board of Directors terminated the powers of Rosneft Management Board member Pavel Fedorov following the Russian government’s March 20 order appointing him Deputy Energy Minster. Additionally the Board approved a number of related-party transactions.

Rosneft Information Division
Tel.: +7 (495) 411 54 20
Fax: +7 (495) 411 54 21

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.