OREANDA-NEWS. June 22, 2010. OAO Tatneft (the “Company”) announces that it published on its web-site (http://www.tatneft.ru/eng) the unaudited interim condensed consolidated financial statements for the three months ended March 31, 2010 prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) (the “Financial Statements”) and related Management Discussion and Analysis of Results of Operations (the “MD&A”), reported the press-centre of Tatneft.

Selected financial highlights below are based on the respective U.S. GAAP financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of the first quarter 2010 U.S. GAAP results. Russian Ruble amounts below have been translated into U.S. Dollars, for revenue and net income at the average exchange rate during the respective reporting period, and for balance sheet items at the exchange rate on the last day of the respective reporting period.

The Company’s consolidated revenues in the first quarter of 2010 were 105,152 million Rubles (USD 3,518 million) as compared to 73,540 million Rubles (USD 2,167 million) in the first quarter of 2009. The consolidated net income attributable to Group shareholders in the first quarter 2010 was 12,630 million Rubles (USD 423 million) as compared to 7,929 million Rubles (USD 234 million) in the first quarter 2009.

Total consolidated assets of the Company increased from 495,742 million Rubles (USD 16,394 million) as of December 31, 2009, to 513,241 million Rubles (USD 17,481 million) as of March 31, 2010.

Total consolidated liabilities of the Company increased from 182,235 million Rubles (USD 6,026 million) as of December 31, 2009, to 186,106 million Rubles (USD 6,339 million) as of March 31, 2010.

Total consolidated shareholders’ equity increased from 313,507 million Rubles (USD 10,367 million) as of December 31, 2009, to 327,135 million Rubles (USD 11,142 million) as of March 31, 2010.

The Company’s representatives will discuss the U.S. GAAP financial highlights for the three months 2010 on a conference call on June 22, 2010 at 4.00 p.m. Moscow time, 1:00 PM British Summer Time:

To participate in the conference call please dial the following numbers: in the United Kingdom +44 1296 480 100, in Russia: +7 495 981 0873; using PIN 775238 (alternative dial-in numbers are available at http://www.btconferencing.com/globalaccess/?bid=49_attended). The conference call replay will be available for 15 days from June 23, 2010 by dialing +44 20 7136 9233 in the U.K. using PIN 45720907.

Forward-looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. OAO Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.