On June 24, 2009 a regular session of the Board of Directors of OAO Nizhnekamskneftekhim, chaired by Mr. A.Shigabutdinov, the General Director of OAO ÒÀIF, Chairman of the Board of Directors, took place, where the issues connected with corporate management and activity of the Board of Directors have been considered.

The Board of Directors has laid down the guidelines of activity of OAO Nizhnekamskneftekhim between members of the Board of Directors and has assigned to them responsible members from the Board of the Company, has approved a working plan of the Board of Directors for the years 2009-2010 and regulations for committees of the Board of Directors of the company in a new wording.

The Board of Directors has approved composition of the audit committee (chairman being the Minister of Finance of the Republic of Tatarstan, Mr. R.Gajzatullin), and  staff and rewards committee (chairman being Mr. A.Metshin, the Head of the Nizhnekamsk Municipal District  and the City of Nizhnekamsk).

The Board of Directors has approved composition of the Board of OAO Nizhnekamskneftekhim under chairmanship of Mr. V. Busygin, the General Director.

In a panel session of the Board of Directors has been approved overlapping of job positions by members of the Board of OAO Nizhnekamskneftekhim in managerial offices of other organizations.

The Board of Directors has made a decision on convocation on August 7, 2009 the extraordinary general meeting of shareholders of OAO Nizhnekamskneftekhim for consideration of approval of the Charter of the Company in a new wording. The form of the meeting is the correspondence voting. The list of the persons who are having the right of participation in the meeting is made out as of June 24, 2009 at 18.00 o'clock, Moscow time.