OREANDA-NEWS. On October 30, 2007 OAO Tatneft (the “Company”) announced that it published on its web-site http://www.tatneft.ru/eng/buh.htm the unaudited consolidated interim condensed financial  statements for the first half of 2007, prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) (the “Financial Statements”), reported the press-centre of Tatneft.

Selected financial highlights below are based on the respective U.S. GAAP financial statements of the Company. Russian Ruble amounts below have been translated into U.S. Dollars at the exchange rates on the last day of the respective reporting period.

The Company’s consolidated revenues for the first half of 2007 were 157,185 mln Rubles (US$6,088 mln) as compared to 160,860 mln Rubles (US$5,940 mln) for the respective period of 2006. The consolidated net income for the first half of 2007 was 16,493 mln Rubles (US$639 mln) as compared to 17,922 mln Rubles (US$662 mln) for the respective period of 2006.

Total consolidated assets of the Company increased from 319,424 mln Rubles (US$12,132 mln) as of December 31, 2006, to 341,917 mln Rubles (US$13,242 mln) as of June 30, 2007.

Total consolidated liabilities of the Company increased from 84,547 mln Rubles  (US$3,211 mln) as of December  31, 2006, to 99,606 mln Rubles (US$3,858 mln) as of June 30, 2007.

Total consolidated shareholders’ equity increased from 231,703 mln Rubles (US$8,800 mln) as of December 31, 2006, to 238,775 mln Rubles (US$9,248 mln) as of June 30, 2007.

The Company’s representatives will discuss the U.S.  GAAP financial highlights for the first half of 2007 on a conference call the details of which will be announced separately.

The Financial Statements have been filed with the Document Viewing Facility of the UKLA.