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Rosneft Oil Company

July 11, 2007

Aeroflot and Rosneft sign general agreement on strategic partnership and cooperation

On July 10 in Moscow, Rosneft and Aeroflot Russian Airlines signed a general agreement on strategic partnership and cooperation. This mutually beneficial and long-term agreement was signed with the goal of sharing both companies’ production and research potential, as well as human and financial resources in order to strengthen their respective business potential.

The agreement primarily addresses the sale of refined oil products by Rosneft to Aeroflot and transport arrangements for Rosneft employees on board the airline’s flights. It also addresses the joint use of operational and infrastructure facilities, as well as the research, information, advertising, environmental protection and social provision capabilities for mutual benefit.

The agreement also provides for the possibility of joint participation in the creation of fueling facilities at regional airports that are of use to both companies. Furthermore, the agreement envisions partnership in the area of exporting oil and oil products.

The general agreement intends for cooperation to occur on the basis of individual project agreements. A working group comprised of employees from Aeroflot and Rosneft will be responsible for implementing the signed agreement.

Additional information

Rosneft is one of Russia’s largest oil companies, ranking first among global public oil companies by proved liquid hydrocarbon reserves. In 2006, Rosneft produced 80.2 million tonnes of oil and 13.7 billion cubic meters of gas. The company’s output of oil products was 22.7 million tonnes.

Rosneft’s total earnings in 2006 amounted to USD 33 billion. EBITDA was USD 7.3 billion, and net profit was USD 3.5 billion. More detailed information about the company can be found on www.rosneft.com.

Aeroflot, as Russia’s national carrier and largest airline, is the undisputed leader in Russian civil aviation. The company’s services are used by more than 7 million passengers a year, while together with its subsidiaries, Aeroflot transports around 9 million passengers annually, or 23% of the total number of passengers who fly on Russian airlines. The airline’s fleet comprises 81 aircraft, which provide service to 93 destinations in 47 countries (altogether 302 flights per day). On the Russian market, Aeroflot controls 51% of regular international passenger traffic and around 12% of domestic air traffic. The company’s net income for 2006 totaled RUB 7.9 billion according to Russian Accounting Standards (USD 258.1 million according to International Accounting Standards).

Aeroflot is one of the oldest airlines as well as one of the most recognizable commercial brands in the world. The company was established in 1923 and is based at Moscow’s Sheremetyevo International Airport. In 2006, Aeroflot became the first Russian airline to enter the SkyTeam global alliance. The combined SkyTeam route network includes 728 destinations in 149 countries, giving Aeroflot’s passengers unlimited travel options. Aeroflot’s clients can also participate in the bonus programs of all SkyTeam partners. Further information about the SkyTeam alliance can be found on the alliance’s website — www.skyteam.com.

Aeroflot is the only airline in Russia to be accredited as an IOSA operator (IATA Operational Safety Audit — an international operational safety audit). On the company’s website www.aeroflot.aero, it is possible to purchase e-tickets for Aeroflot flights, as well as learn more about the airline.





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