OREANDA-NEWS. On 24 April 2008 NOVATEK announced that the Company’s Board of Directors has approved a US\\$ 800 million unsecured syndicated term loan facility.

The Facility is obtained for general corporate purposes including funding our 2008 capital expenditure program.

The Facility has a three year tenor with an 18 month repayment grace period and is to be repaid in quarterly instalments. The Facility pays an initial margin of LIBOR plus 1.25% per annum for the first 18 months and rising to 1.50% per annum thereafter.

The loan is guaranteed by the Company’s subsidiaries - OOO NOVATEK-TARKOSALENEFTEGAS and OOO NOVATEK-YURKHAROVNEFTEGAS.

The Facility is arranged and fully underwritten by BNP Paribas, CALYON, Citibank International plc and Sumitomo Mitsui Banking Corporation Europe Limited. The Facility Agreement was signed on 21 April 2008.