28.11.08, “ Nizhnekamskneftekhim” INC Board of Directors held its regular session presided by A. Shigabutdinov – Chairman of the Board, General Director of PSC "TAIF".

Over 9 months 2008, the Company's marketable output constituted RUR 56.5 bn. The product release in comparable prices ran to 111.6%, in current prices – to 141.6% versus the relevant last year period. The Company's net profit totalled RUR 4.14 bn.

The maximum gain in production versus the 2007 level was reached for ethylene, propylene, polypropylene, neonols, isoprene, polybutadiene, butyl and halobutyl types of rubber, polystyrene, isoprene, polyethylene glycols.

Basically, a novel type of rubber, LiBR, was commercialized in the current year, which enables to discontinue imports of such for HIPS production. In August, a third PS Unit was launched raising PS total capacity to 170 Kt. The Ethylene Complex capacity reached 600 Kta. A Polyethylene Facility will be commissioned by the year-end. All three turbines of the captive energy supplier GTU-75 were put in operation; the Unit is currently operating at full capacity.

The Board took into consideration the results of the Company's 9 months operation in 2008, including the outturn of the plan in utilizing and financing the capital investments, and singled out the operation's positive results.

The session also discussed a number of issues relating to the financial and economic activities of "Nizhnekamskneftekhim" INC.