09.01.2007 Re RTS Listing

Due to the RTS Group restructuring and a decision taken by the Board of Directors of the Non-Commercial Partnership Russian Trading System Stock Exchange (NP RTS) to transfer classic market trading from NP RTS to the Open Joint Stock Company Russian Trading System Stock Exchange (OAO RTS) since January 1, 2007, OAO LUKOIL (the Company) was notified on January 9, 2007 by NP RTS and OAO RTS of exclusion of the Company’s ordinary shares from the A1 Quotation List of NP RTS and simultaneous inclusion of these shares in the A1 Quotation List of OAO RTS. 

In accordance with the three-party agreement signed by OAO LUKOIL, NP RTS and OAO RTS, NP RTS transfers its rights and obligations to OAO RTS under the Listing Agreement signed by NP RTS and OAO LUKOIL. The rights and obligations are transferred from NP RTS to OAO RTS in full and under conditions which are in force as of the rights and obligations transfer date.