OREANDA-NEWS. On 23 April 2008 NOVATEK (announced the results of its Board of Directors (the “Board”) meeting to recommend to the Annual General Meeting of Shareholders (“AGM”) to approve dividend payments on the Company’s shares in the amount of RR 1.52 per one ordinary share. The Board’s Corporate Governance Committee recommended the dividend payment based on NOVATEK’s annual results for 2007 prepared in accordance to Russian accounting standards.
 
The total dividend distribution per ordinary share for 2007 recommended for approval at the AGM, including interim dividends paid for six months of 2007, amounts to RR 2.35 per one ordinary share.
 
The Company’s AGM will take place on 23 May 2008. Shareholders of record at the close of business on the 10 April 2008 will be entitled to receive dividends and to participate in the Company’s AGM.