29.11.2007 Convertible Bond Redemption

FINAL REDEMPTION OF 3.5% CONVERTIBLE BONDS DUE 2007

 

29 November, 2007 - Open Joint Stock Company “Oil company “LUKOIL” (“LUKOIL”) announces the final redemption of its outstanding U.S.$350,000,000 3.5 per cent. Convertible Bonds due 2007 convertible into Global Depositary Receipts representing ordinary shares of, and with the guarantee of, LUKOIL (the “Bonds”). The Bonds were redeemed at maturity on 29 November 2007 (the “Final Maturity Date”) in accordance with Clause 8(a) of the Terms and Conditions of the Bonds. The total number of Bonds redeemed on the Final Maturity Date was 750 Bonds. Following this redemption, no Bonds remain outstanding.