OREANDA-NEWS. Due to the fact that on April 19, 2007 the Gazeta daily in the article Mitvol Will Audit the Auditors incorrectly refers to OAO LUKOIL as a client of DeGolyer & MacNaughton, the Press Service of the Company would like to make the following statement: OAO LUKOIL has never used the services of DeGolyer & MacNaughton.

Miller & Lents have been the Company’s independent auditor of hydrocarbon reserves since 1995 and they completed their first reserves evaluation report for OAO LUKOIL in accordance with the requirements of the US Society of Petroleum Engineers (SPE) and the World Petroleum Congress (WPC) on March 22, 1996.