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26.06.2008 AGM Statement

AGM Statement  

OAO LUKOIL held its Annual General Shareholders Meeting in Moscow today to approve 2007 annual report and financial statements based on the fiscal year results.
The shareholders approved dividend distribution based on the Company’s performance in 2007 in the amount of 42 rubles per ordinary share (38 rubles in 2006).
The size of remuneration and compensation of expenses to members of the Board of Directors and the Audit Commission was also approved. ZAO KPMG was approved as LUKOIL’s independent auditor. The Annual General Shareholders Meeting also elected the Board of Directors and the Audit Commission and approved interested-party transactions.
The following Board of Directors was elected by the shareholders:
1.Vagit Yu. Alekperov, President of OAO LUKOIL;
2.Igor V. Belikov, Director of the Russian Institute of Directors;
3.Donald Evert Wallette (Jr.), President of Russia/Caspian Region, ConocoPhillips
4.Valery I. Grayfer, General Director of OAO RITEK;
5.Oleg E. Kutafin, President of the Moscow State Academy of Law;
6.Ravil U. Maganov, First Executive Vice President of OAO LUKOIL;
7.Richard H. Matzke, former Vice Chairman of Chevron Corporation;
8.Sergei A. Mikhailov, General Director of OOO Management-Consulting;
9.Nikolai A. Tsvetkov, Chairman of the Board of Directors of OOO Upravlyayuschaya kompaniya Evolyutsia [Evolution Management Holding Company];
10.Igor V. Sherkunov, Chairman of the Board of Directors of ZAO Investitsionnaya Gruppa Kapital [Capital Investment Group];
11.Alexander N. Shokhin, President of Russian Union of Industrialists and Entrepreneurs (employers).