OJSC TNK-BP Holding Board of Directors Convenes an Extraordinary General Shareholders' Meeting

The record date is October 12, 2010.
The Board of Directors has recommended to the general shareholders’ meeting to approve OJSC TNK-BP Holding dividend at 8.04 rubles per one common and one preference share. The total recommended dividend amount is 124.2 billion rubles.
If the relevant decision is passed by OJSC TNK-BP Holding shareholders, dividends will be paid to all shareholders in cash, in proportion to their respective shareholdings, within six months from the decision date.
OJSC TNK-BP Holding principal shareholder is Novy Investments Ltd., a TNK-BP Group entity. All dividends distributed to Novy Investments Ltd. will be reinvested to finance TNK-BP Group’s Russian operations, including its exploration, production, refining and marketing activities.
OJSC TNK-BP Holding is an open joint-stock company established in November 2004, registered and operating in Russia. TNK-BP Holding owns the majority of Russian assets of TNK-BP. Minority shareholders own c. 5% in OJSC TNK-BP Holding; indicative quotations for company shares are posted on the RTS Board information system (TNBPI.RTS).
TNK-BP is Russia’s third largest oil company, 50% held by BP and 50% held by the AAR Consortium (Alfa Group, Access Industries, and Renova). TNK-BP also owns close to 50% of another Russian oil and gas company, Slavneft. TNK-BP accounts for approximately 16% of Russia’s production (including its share of Slavneft). SEC proved reserves (life of field basis) were 8.586 billion boe as of December 31, 2009.