Today, November 3, 1998, in accordance with the terms and conditions of the convertible bonds issue, OAO LUKOIL announced the second coupon payment on convertible bonds issued by its Dutch affiliated company LUKINTER FINANCE B.V.

These convertible bonds worth USD350 million were issued in October 1997. The bonds mature in 2003 and carry 1% interest paid semiannually.

The first coupon payment on this tranche was duly effected in May 1998.

The funds for interest payments are reserved and serviced by one of the most reliable international financial institutions.

LUKOIL does have sufficient financial resources to meet its obligations in future.

 

 

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Press Centre  OAO "LUKOIL"
phone.: (095)927-1677,  fax: (095)927-1653,
E-mail: pr@lukoil.com