OREANDA-NEWS. May 24, 2007.  Open Joint Stock Company Tatneft hereby notifies you of the Annual General Shareholders' Meeting to be held in the form of joint presence of shareholders with advance circulation of voting ballots.  The following items have been included into the agenda of the meeting:

• Report of the Board of Directors on financial and economic activities of OAO Tatneft in 2006. Approval of the annual report of the Company for the year 2006.
• Approval of the annual financial statements, including the profit and loss statement (profit and loss account) of the Company for the year 2006.
• Approval of distribution of net income based on the results of the financial year.
• Payment of annual dividends based on the results of the year 2006.  Approval of the amount of the dividends and the form and date of payment thereof.
• Election of members of the Board of Directors of OAO Tatneft.
• Election of members of the Auditing Commission of OAO Tatneft.
• Approval of an external auditor of the joint stock company.
• Introduction of amendments and modifications into the Articles of OAO Tatneft.
• Introduction of amendments and modifications into the Regulation on the Board of Directors of OAO Tatneft.
• Introduction of amendments and modifications into the Regulation on the Management Council of OAO Tatneft.
The meeting will be held at 10:00 a.m. on June 29, 2007 at "Neftche" Palace of Culture at the address: 98, Lenin Street, Almetyevsk, Republic of Tatarstan.

The list of shareholders entitled to participate in the General Shareholders' Meeting will be compiled on the basis of data from the shareholders' register as of 8:00 a. m. on May 14, 2007.

Preliminary registration of shareholders will take place from June 18 to June 28, 2007 from 8:00 a.m. until 5:00 p.m. at the Property Management Department of OAO Tatneft at the address: 10, Gagarin Street, Almetyevsk.

Registration on the day of the meeting will start at 8:30 a.m. in the building of "Neftche" Palace of Culture.

Shareholders who wish to register as meeting participants should have passport (identity card) and representatives of shareholders should also have a power of attorney.

Materials relating to the agenda will be available for review within 20 days prior to the meeting in the newspapers "Neftyanye Vesti" and "Khazina" and also be available at the following addresses:

Property Management Department of JSC Tatneft located at the address: 10, Gagarin Street, Almetyevsk;
Representative office of OAO Tatneft located at the address: 17, Tverskoy Boulevard, Moscow;
Representative office of OAO Tatneft located at the address at: 71, Karl Marx street, Kazan.
Filled in voting ballots shall be submitted to the Property Management Department of OAO Tatneft located at the address: 10, Gagarin Street, Almetyevsk.

Votes represented by the voting ballots received by the Company not later than two days prior to the date of the General Shareholders' Meeting will be taken into account for determining the quorum and voting results pursuant to Article 60(3) of the Federal Law On Joint Stock Companies.