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I. Graifer, Chairman of the Board of directors of LUKOILV. I. Graifer, Chairman of the Board of directors of LUKOILV. Alekperov, President of OAO LUKOIL V. Alekperov, President of OAO LUKOIL Oilmen of LUKOILOilmen of LUKOILConstruction of LSP-1 (ice-resistant stationary platform) for Yuri Korchagin field in the Caspian SeaConstruction of LSP-1 (ice-resistant stationary platform) for Yuri Korchagin field in the Caspian SeaOffshore platforme D6 in the Baltic Sea. Kratsovskoe fieldOffshore platforme D6 in the Baltic Sea. Kratsovskoe field Permnefteorgsintez Refinery Permnefteorgsintez RefineryVolgograd RefineryVolgograd Refinery Uhtaneftepererabotka Refinery Uhtaneftepererabotka Refinery Nijnegorodnefteorgsintez Refinery Nijnegorodnefteorgsintez RefineryMini refineries in KogalymMini refineries in KogalymPetrotel-LUKOIL (Romania)Petrotel-LUKOIL (Romania)LUKOIL Neftokhim Burgas (Bulgaria)LUKOIL Neftokhim Burgas (Bulgaria)Odessa Refinery (Ukraine)Odessa Refinery (Ukraine)Filling station commissioning in New-YorkFilling station commissioning in New-YorkChange of brand of a filling station in the USAChange of brand of a filling station in the USACommissioning of the Yuzhno Khulchuyu Field. June 20, 2008Commissioning of the Yuzhno Khulchuyu Field. June 20, 2008The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008Commissioning of KHAUZAK gas field in Uzbekistan. November 29, 2007Commissioning of KHAUZAK gas field in Uzbekistan. November 29, 2007Mounting of mooring cargo handling system on the FOIROT (Varandey Oil Export Terminal)Mounting of mooring cargo handling system on the FOIROT (Varandey Oil Export Terminal)Loading of FOIROT onto sea-going barges (Varandey Oil Export Terminal)Loading of FOIROT onto sea-going barges (Varandey Oil Export Terminal)Construction of Varandey TerminalConstruction of Varandey TerminalCommissioning of a catalytic reforming installation at the Volgograd RefineryCommissioning of a catalytic reforming installation at the Volgograd RefineryNakhodkinskoye gaz field commissioningNakhodkinskoye gaz field commissioningInternational anti-terrorism exercises at Volgograd RefineryInternational anti-terrorism exercises at Volgograd RefineryInternational exercise at RPK-Vysotsk LUKOIL-IIInternational exercise at RPK-Vysotsk LUKOIL-IIFire-prevention trainings in Kaliningrad RegionFire-prevention trainings in Kaliningrad RegionExercises “Kaliningrad 2004”Exercises “Kaliningrad 2004”Annual General Shareholders MeetingAnnual General Shareholders MeetingPresentationsPresentationsInvestor Trips to Sites Investor Trips to Sites Financial CalendarFinancial CalendarFinancial and Operating InformationFinancial and Operating InformationLUKOIL Stock QuotesLUKOIL Stock QuotesShareholders EquityShareholders EquityAnalyst CoverageAnalyst CoveragePerm Perm Karachaganak Karachaganak West SiberiaWest SiberiaEgyptEgyptFinancial FundamentalsFinancial FundamentalsOperating HighlightsOperating HighlightsShareholdersShareholdersOil and Gas ReservesOil and Gas ReservesExplorationExplorationProductionProductionInternational Exploration and ProductionInternational Exploration and ProductionOil transportationOil transportationDomestic RefiningDomestic RefiningInternational RefiningInternational RefiningNatural Gas Processing Natural Gas Processing PetrochemicalsPetrochemicalsPersonnel Management PolicyPersonnel Management PolicySocial Code of OAO LUKOIL Social Code of OAO LUKOIL Social Report of OAO LUKOILSocial Report of OAO LUKOILCharity and Social ActivitiesCharity and Social ActivitiesSportsSportsCorporate retirement programCorporate retirement programCompany Policy Company Policy Caring for the Environment Caring for the Environment Еcological monitoringЕcological monitoringCertificationCertificationAssociated SitesAssociated SitesSubsidiaries' WebsitesSubsidiaries' WebsitesOnline Periodicals Online Periodicals Post cardsPost cardsSecuritiesSecuritiesPhotoPhoto

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Financial Fundamentals

Security: LKOH (common stock), LKOD (ADR)
Exchange: RTS (common stock), LSE (ADR)
Currency: US Dollar

Interim financial results

Net Income		EBITDA		Earnings Per Share

2003-2007 financial highlights and ratios

Revenue & Earnings (mln USD)		2003	2004	2005	2006	2007

Sales		22,118	33,845	55,774	67,684	81,891
Income from operating activities		4,587	6,034	9,388	10,477	13,418
Net income		3,701	4,248	6,443	7,484	9,511
EBITDA		5,630	7,203	10,404	12,299	15,388
Basic EPS (USD)		4.52	5.20	7.91	9.06	11.48
Diluted EPS (USD)		4.45	5.13	7.79	9.04	11.48

Ratios (definitions)	2003	2004	2005	2006	2007

Share price (31 December)	23.25	30.35	59.40	87.95	87.00
Price to Earnings	5.14	5.84	7.51	9.71	7.58
Price to Sales	0.89	0.76	0.91	1.11	0.90
EV to DACF	7.04	6.45	8.54	10.20	7.21
Price to Book Value	0.74	0.87	1.25	1.55	1.24
Debt to Equity	0.28	0.19	0.19	0.19	0.17
Current Ratio	1.50	1.89	2.14	1.96	1.84
ROACE	13.97%	19.29%	23.34%	21.50%	22.18%

2007 Dividends

Ex-Dividend Date	May 8, 2008
Dividend Rate (USD)*	1.80
Yield**	2.05%

* - In calculation of dividend payment in US dollars, the exchange rate on the day of announcement was used.
** - Dividend yield is calculated as the ratio of current divided to the company's common share price on the day of dividend announcement.

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