OREANDA-NEWS. OAO LUKOIL Board of Directors took resolutions related to holding of the Annual General Shareholders Meeting of OAO LUKOIL.

In particular, it was resolved that the meeting shall take place on 28 June 2007 at 11:00 am at the Company’s headquarters in Moscow. The record date for the list of the shareholders entitled to participate in the Annual General Shareholders Meeting shall be 11 May 2007.

The Board of Directors intends to recommend that dividends for the 2006 financial year be paid in the amount of 38 roubles per ordinary share (as opposed to 33 roubles in 2005).

The Board of Directors resolved to recommend that the shareholders approve KPMG as the Company’s independent auditor.