24.06.2010 AGM Statement

LUKOIL HOLDS ANNUAL GENERAL SHAREHOLDERS MEETING

OAO LUKOIL held its Annual General Shareholders Meeting in Moscow today to approve the 2009 Annual Report and financial statements based on the fiscal year results.

 

The shareholders approved dividend distribution based on the Company’s performance in 2009 in the amount of 52 rubles per ordinary share (50 rubles per ordinary share in 2008).

 

The size of remuneration and compensation of expenses to the members of the Board of Directors and the Audit Commission was also approved. ZAO KPMG was approved as LUKOIL’s independent auditor. The Annual General Shareholders Meeting also elected the Board of Directors and the Audit Commission, approved amendments to the Procedure for Preparing and Holding the General Shareholders Meeting of OAO LUKOIL and approved interested-party transactions.

 

The following Board of Directors of OAO LUKOIL was elected by the shareholders:

 

1. Vagit Yu. Alekperov, President of OAO LUKOIL,

2. Igor V. Belikov, Director of the Russian Institute of Directors,

3. Victor V. Blazheev, Rector of the Moscow State Academy of Law,

4. Donald Evert Wallette (Jr.), President of Russia/Caspian Region, ConocoPhillips,

5. Valery I. Grayfer, Chairman of the Board of Directors of OAO RITEK,

6. German O. Gref, Chairman of the Board and CEO of Sberbank (Saving Bank of the Russian Federation),

7. Igor S. Ivanov, Professor of the Moscow State Institute of International Relations,

8. Ravil U. Maganov, First Executive Vice President of OAO LUKOIL,

9. Sergei A. Mikhailov, General Director of OOO Management-Consulting,

10. Mark Mobius, Executive President of Templeton Asset Management Ltd.,

11. Alexander N. Shokhin, President of the Russian Union of Industrialists and Entrepreneurs (employers), President of the State University – Higher School of  Economics.