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25.06.2009 AGM Statement

AGM Statement  

OAO LUKOIL held its Annual General Shareholders Meeting in Moscow today to approve the 2008 annual report and financial statements based on the fiscal year results.

The shareholders approved dividend distribution based on the Company’s performance in 2008 in the amount of 50 rubles per ordinary share (42 rubles in 2007).

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 an interested-party transaction.

The following Board of Directors of OAO LUKOIL was elected by the shareholders:

1. Vagit Yu. Alekperov, President of OAO LUKOIL;

2. Victor V. Blazheev, Rector of the Moscow State Academy of Law;

3. Donald Evert Wallette (Jr.), President of Russia/Caspian Region, ConocoPhillips;

4. Valery I. Grayfer, General Director of OAO RITEK;

5. Herman O. Gref, Chairman of the Board and CEO of Sberbank (Saving Bank of the Russian Federation);

6. Igor S. Ivanov, professor of the Moscow State Institute of International Relations, former RF Foreign Minister and Secretary of RF Security Council;

7. Ravil U. Maganov, First Executive Vice President of OAO LUKOIL;

8. Richard H. Matzke, former Vice Chairman of Chevron Corporation;

9. Sergei A. Mikhailov, General Director of OOO Management-Consulting;

10. Nikolai A. Tsvetkov, Chairman of the Board of Directors of OAO URALSIB Financial Corporation;

11. Alexander N. Shokhin, President of the Russian Union of Industrialists and Entrepreneurs (employers), President of the State University – Higher School of Economics.