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Rosneft Oil Company

April 19, 2011

Rosneft announces share repurchase program

Rosneft today announced the start of its share repurchase program, including the targeted acquisition of shares by Company management. In addition, the Company disclosed RN-Razvitieís purchase of 11,296,701 Rosneft shares on the stock market.

The initial value of the repurchase program over the coming months will be USD 100-200 million. RN-Razvitieís purchase of shares in the amount of USD 104 mln on 13 April 2011 was the first step in implementing this program.

Also, Rosneftís President and two members of the Management Board announce that they had purchase Company shares in the amount of USD 27 mln. These acquisitions reflect Rosneft managementís firm view that the Company as well as its prospects for growth are substantially undervalued by the market.

 

 

 

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