LUKOIL will increase dividends by 4%

In particular, the Board of Directors decided to hold the Metting on June 24, 2010, at 11:00 a.m. at the corporate headquarters located in Moscow, at 11 Sretensky Boulevard. The Board of Directors resolved to prepare the list of shareholders eligible to participate in the Meeting as of May 7, 2010.
The Board of Directors will recommend the shareholders to approve dividend payments based on the Company’s performance in 2009 in the amount of RUR 52 per ordinary share, which exceeds the dividend rate of the previous year by 4% (RUR 50 based on 2008 performance). The dividend rate is established on the basis of the amount allocated to dividend payment coming to RUR 44,229,289 thousand, which amounts to 20.86% of the net consolidated profit calculated in accordance with the US GAAP.