OREANDA-NEWS. On 28 May 2008 NOVATEK announced that the Annual General Meeting of Shareholders (AGM) has elected a new Board of Directors.

The new Board is comprised of the following members:

Akimov, Andrei Igorevich: Chairman of the Management Board of Gazprombank;

Vardanian, Ruben Karlenovich: Chairman of the Board of Directors of Troika Dialog Group;

Gyetvay, Mark Anthony: Chief Financial Officer of NOVATEK;

Dmitriev, Vladimir Alexandrovich: Chairman of the Board of Directors of State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)";

Mikhelson, Leonid Viktorovich: Chairman of the Management Board of NOVATEK;

Natalenko, Alexander Yegorovich: Chairman of the Board of Directors of NOVATEK, State Prize Laureate and Honored Geologist of the Russian Federation;

Seleznev, Kirill Gennadievich: member of the Management Board of Gazprom, Director of Gazprom’s Gas and Liquid Hydrocarbons Marketing and Processing Department and General Director of Mezhregiongaz;

Yuzhanov, Ilia Arturovich: member of the Board of Directors of RAO UES, OAO UralKaliy, OAO Kirovsky Zavod and Supervisory Board of NOMOS-BANK.

The new Board is comprised of six non-executive directors.

Following the AGM, the new Board held its first meeting where Alexander Natalenko was elected Chairman of the Board. The Board also elected the members of the three Board committees.

The Strategy and Investments Committee comprised of the following members: Ilia Yuzhanov (the chairman), Kirill Seleznev and Alexander Natalenko. The Audit Committee comprised of Vladimir Dmitriev (the chairman), Ruben Vardanian and Andrei Akimov. The Corporate Governance and Remuneration Committee comprised of Ruben Vardanian (the chairman), Mark Gyetvay, and Ilia Yuzhanov.