01.10.2010 Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES OR CONNECTED PERSONS

In accordance with DTR 3.1.2R, Redruth Investments Limited ("Redruth") notified OAO "LUKOIL" that on 28 September 2010, it acquired notes (the "Notes") issued by UniCredit Bank AG relating to 25,000,000 ADRs (each representing one ordinary share of the Company) (the "ADRs"). The total consideration for the Notes was US$1.4 billion. The Notes are exchangeable under certain circumstances into the ADRs. Redruth is connected with Mr. Vagit Alekperov, a person discharging managerial responsibilities at the Company.