On August 28, 2009 a regular session of the Board of Directors of OAO Nizhnekamskneftekhim took place chaired by A. Shigabutdinov, the General Director of OAO ÒÀIF , being the Chairman of the Board of Directors of OAO Nizhnekamskneftekhim as well.

The Board of Directors has reviewed results of financial and economic activity of OAO Nizhnekamskneftekhim for the first half of the year 2009.

Members of the Board of Directors have approved plans of work of the Audit Committee and of the Staff and Compensations Committee of the Board of Directors of OAO Nizhnekamskneftekhim for the period 2009-2010.

The Board of Directors has taken into consideration the information about feedstock supplies to the company, has analyzed efficacy of investments in subsidiary enterprises and dependent societies of OAO Nizhnekamskneftekhim from results of their activity in the first half of the year 2009.