Rosneft Board of Directors recommends a 20% dividend increase, to RUB 2.76 per share

Rosneft’s Board of Directors pre-approved the Company's Annual Report for 2010 and recommended that the Annual General Meeting of shareholders approve a dividend of RUB 2.76 per share for 2010, representing a 20% increase over 2009.
The total amount, if accepted by the shareholders, as the Board recommends, will be allocated to pay dividends amounting to RUB 29 billion 251 million, or 15.2% of net profit under Russian Accounting Standards (11.7% year before).
In accordance with Russia law on joint stock companies, dividend payments will be made simultaneously to all bearers of shares not later than 9 August 2011.
The Board of Directors recommended the Audit-Consulting Group Business Systems Development to conduct an audit of Rosneft and its subsidiaries.