The initial value of the repurchase program over the coming months will be USD 100-200 million. RN-Development’s purchase of shares in the amount of USD 104 mln on 13 April 2011 was the first step in implementing this program.
Also, today Rosneft’s President and two members of the Management Board announced that they purchase Company shares in the amount of USD 27 mln. These acquisitions reflect Rosneft management’s firm view that the Company as well as its prospects for growth are substantially undervalued by the market.