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23.04.2007 Statement re Completion of Assets Sale

23.04.2007 
Statement re Completion of Assets Sale  

LUKOIL OVERSEAS AND MITTAL INVESTMENTSCOMPLETE SALE OF OIL PRODUCING ASSETS IN KAZAKHSTAN
  
LUKOIL Overseas and Mittal Investments have completed the sale of a 50% share in Caspian Investments Resources Ltd.

Caspian Investments Resources Ltd., formerly a 100% subsidiary of LUKOIL Overseas, has now become a joint venture between LUKOIL Overseas and Mittal Investments with each company owning 50%.
The value of the deal between LUKOIL Overseas and Mittal Investments is US$980 million. In addition, Mittal Investments has assumed a commitment to fund 50% of the outstanding debt of Caspian Investments Resources Ltd., an amount equal to approximately US$175 million.