OREANDA-NEWS. June 14, 2012. Joint Stock Company “NOVATEK” (“NOVATEK”) announces its intention to (i) terminate the Rule 144A Deposit Agreement, dated 15 April 2005, by and between NOVATEK, Deutsche Bank Trust Company Americas as depositary bank (the “Depositary”) and all registered and beneficial owners from time to time of Rule 144A global depositary receipts (the “Rule 144A GDRs”) evidenced by Rule 144A GDR certificates issued thereunder (the “Rule 144A Deposit Agreement”), (ii) close the Rule 144A GDR program for further deposits and (iii) apply to the United Kingdom Listing Authority and the London Stock Exchange (the “LSE”) to cancel the listing and admission to trading of the Rule 144A GDRs (CUSIP: 669888208, ISIN: US6698882080), each with effect from 9 July 2012. Following the termination of the Rule 144A GDR program, trading in NOVATEK GDRs will continue in the form of Regulation S global depositary receipts representing ordinary shares of NOVATEK (CUSIP: 669888109, ISIN: US6698881090) (the “Regulation S GDRs”) listed and admitted to trading on the LSE under the ticker symbol “NVTK”.

In accordance with the Rule 144A Deposit Agreement, the Rule 144A Deposit Agreement will be terminated 30 days after notice of termination is first provided to registered holders of Rule 144A GDRs. It is currently anticipated that the Rule 144A GDR program will terminate on 9 July 2012. No deposits of ordinary shares of NOVATEK will be accepted into the Rule 144A GDR program once the program is terminated.

Until the expiration of the six-month period following the date of termination, holders of Rule 144A GDRs may deliver their NOVATEK Rule 144A GDRs to the Depositary for cancellation and withdrawal of the underlying ordinary shares of NOVATEK, subject to and in accordance with the terms and conditions in the Rule 144A Deposit Agreement, or Regulation S GDRs, provided that the appropriate certifications are given to the Depositary. Holders of Rule 144A GDRs who elect to withdraw the ordinary shares underlying their Rule 144A GDRs or those who elect to convert their Rule 144A GDRs into Regulation S GDRs, subject to delivery to the depositary of the required certifications, will pay USD 0.05 per GDR in connection with such withdrawal or conversion, as the case may be.

It is anticipated that the Depositary will notify registered holders of Rule 144A GDRs of the termination of the Rule 144A GDR program and the process to be followed in order to cancel the Rule 144A GDRs.

As provided in the Rule 144A Deposit Agreement, at any time after the expiration of the six–month period following the date of termination, the Depositary may sell the ordinary shares of NOVATEK represented by the Rule 144A GDRs then outstanding and apply proceeds of such sale in accordance with the Rule 144A Deposit Agreement.