Moscow, 24 April 2006. The Board of Directors of OAO NOVATEK has approved the recommendations of its Committee on Corporate Governance chaired by Ruben Vardanian, and declared a final 2005 dividend payment of RR 523 per share of common stock, or RR 5.23 per Global Depository Receipt. The final dividend payment totaling RR 1,589 million is based on the Company’s net profits of RR 15,178 million according to non-consolidated Russian statutory accounts for the twelve months ended 31 December 2005. The dividend will be paid 60 days after shareholder approval to shareholders of record at the close of business on 21 April 2006.

 

The dividend payout for financial year 2005 totaled RR 2,733 million or RR 900 per share of common stock and RR 9 per Global Depository Receipt.