OREANDA-NEWS. March 26, 2010. OAO NOVATEK (the “Company”) today announced the results of its Board of Directors (the “Board”) meeting to recommend to the Annual General Meeting of Shareholders (“AGM”) to approve the payment of dividends on the Company’s shares in the amount of RR 1.75 per ordinary share. The Board’s Corporate Governance and Remuneration Committee recommended the payment of dividends based on NOVATEK’s annual results for 2009 prepared in accordance to Russian accounting standards.

The total dividend distribution per ordinary share for 2009, including interim dividends paid for the six months of 2009, amounts to RR 2.75 per one ordinary share.        

The Company’s AGM will take place on 28 April 2010. Shareholders of record at the close of business on the 22 March 2010 will be entitled to receive dividends and participate in the Company’s AGM.