CORTESI LARDI IPCO TRADING MOSCOW

 Cortesi & Associati SA (CHE-106.025.312), in Lugano, liquidatrice. MILIC ZELJKO Meeting Shareholder's meeting approved the annual report, annual accounts, including reports on profits and losses, distribution of the profit of the OAO Nizhnekamskneftekhim by results of preceding year base 2010. At year-end of financial and economic activity of the Company for 2010 30 percent from net profit, that makes 2,152 billion Rubles, are allocated for payment of dividends, that makes 1.176 Rubles for each ordinary and privileged share. At the annual meeting of shareholders of ÎÀÎ Nizhnekamskneftekhim the Boad of Directors has been elected consisting of: Rinat K. Sabirov – assistant to the President of the Republic of Tatarstan (government agent) Albert K. Shigabutdinov – General Director of ÎÀÎ ÒÀIF Vladimir M. Busygin – General Director of ÎÀÎ Nizhnekamskneftekhim Sergei V. Alekseev – First Deputy of the General Director, ÎÀÎ Svyazinvestneftekhim Radic R. Gaizatullin – Finance Minister of the Republic of Tatarstan Nahil U. Maganov – First Deputy of the General Director for Oil & Oil Product Sales – Head of Oil & Oil Product Sales Division, ÎÀÎ Tatneft’ Zeljko Milic – Managing Director of IPCO - TRADING S.A. Vladimir V. Presnyakov – Deputy of the General Director for Oil Refining & Petrochemistry, ÎÀÎ ÒÀIF Alexander L. Rappoport – Managing partner of the Law Office “Rappoport & Partners” Guzeliya M. Safina – Deputy of the General Director for Economy & Finances, ÎÀÎ ÒÀIF; Ilshat Sh. Fardiev – Deputy of the Prime Minister of the Republic of Tatarstan – Minister of Energy of the Republic of Tatarstan. Audit Commission has been elected consisting of: Fanis G. Gabdulkhakov – Head of Economic Analysis Department of the Ministry of Finance of the Republic of Tatarstan (government agent); Rustam M. Akhmetov – Deputy of the General Director for Economy, ÎÀÎ Nizhnekamskneftekhim; Olga V. Ignatovskaya – Chief Accountant ÎÀÎ ÒÀIF Alsu K. Ismagilova –Supervision & Auditing Service Manager, Finance-and-Economy Division, ÎÀÎ ÒÀIF Rushan R. Shamgunov – Head of the Oil Refining & Petrochemistry Division, ÎÀÎ ÒÀIF Shareholders have approved ZÀÎ “PriceWaterHouseCoupers (Baker Tilly )Audit” as an Auditer for the Company in 2011.