30.05.2012 Re Possible Listing in HK

OAO LUKOIL announces that it is considering a secondary listing on the Hong Kong Stock Exchange. The Company’s primary listing is in Moscow, while its shares and ADRs have a standard listing on the London Stock Exchange. The Company’s ADRs also trade on US OTC. The Company is considering support for the listing through a buyback of existing shares amounting to US$2 – US$3 billion followed by a secondary public offering at the time of listing. The Company does not intend to issue new shares in connection with the proposed listing.