OREANDA-NEWS. June 26, 2008. An annual Shareholders General Meeting of OAO TATNEFT on the results of 2006 was held in Almetyevsk (Republic of Tatarstan) on June 26, 2008, which approved the Annual Report of the Company for the year 2007 as well as the accounting statements on the results of the fiscal year.

The shareholders approved payment of dividends on the results of the Company's work for the year 2007 in the amount of 565% of the face value per each ordinary share and 565% of the face value per each preferred share. The time period of paying out the dividends has been set up starting July 1 till December 31, 2008.

The meeting has elected the Board of Directors in the following composition:
1. Rustam N. Minnikhanov, Prime Minister of the Republic of Tatarstan (State representative based on the "golden share" right);
2. Shafagat.F. Takhautdinov, General Director of OAO TATNEFT;
3. Valery P. Vasilyev, Minister of Land and Property Relations of the Republic of Tatarstan;
4. David W. Waygood, Director of Waygood Limited;
5. Mariya L. Voskresenskaya, Director of Brentcross Ltd;
6. Radik R. Gayzatullin, Finance Minister the Republic of Tatarstan;
7. Gosh Soushovan, Managing Director of SGI Group Ltd.;
8. Nail G. Ibragimov, First Deputy General Director for Production and Chief Engineer of OAO TATNEFT;
9. Vladimir P. Lavushchenko, Deputy General Director of OAO TATNEFT on Economics;
10. N.U. Maganov, First Deputy General Director of OAO TATNEFT - Head of the Oil and Oil Products Sales Administration;
11. H. Muslimov, Adviser to the President of the Republic of Tatarstan on Oil Fields Development; 
12. Rinat K. Sabirov, Head of the Oil and Gas Complex Issues Department of the Republic of Tatarstan Administration
13. Valery Yu. Sorokin, General Director of OAO Svyazinvestneftekhim;
14. Mirgazyan Z. Taziev, Head of NGDU Almetyevneft;
15. Rais S. Khisamov, Deputy General Director-Chief Geologist of OAO TATNEFT.

The shareholders meeting has also elected the Auditing Commission in the following composition:
1.  Sariya K. Yusupova, Deputy Department Head of Economic Analysis of the Monistry of Finance of the Republic of Tatarstan (State representative based on the "golden share" right);
2.   Tamara.M. Vilkova, Deputy Head of the Accounting and Reporting Administration - Deputy Chief Accountant of OAO Tatneft;
3.   Nailya F. Galieva, Economist Oversight of OAO TATNEFT;
4.   Ferdinand R. Galiullin, Chief Accountant of NGDU Jalilneft;
5.   Venera G. Kuzmina, OAO TATNEFT NIS Economist;
6.   Nikolay K. Lapin, Chief Controller of OAO TATNEFT;
7.   Galina V. Malyazina, Head of Administration for Economics and Industry of the Republic of Tatarstan
8.   Liliya R. Rahimzyanova Head of the Oil Production Administration of Ministry of Economy and Industry of the Republic of Tatarstan;
9.  Alfiya A. Sinegaeva, Department Head for Labor and Personnel Management, OOO "Tatneft-  AslmetyevskRemService"

ZAO Energy Consulting/Audit Company has been approved as the auditor of the Company for one year period to conduct the mandatory annual audit of OAO TATNEFT's financial statements for 2008 prepared in accordance with Russian accounting rules.
After closing the annual shareholders meeting, the first meeting of the newly elected Board of Directors OAO TATNEFT has been held, which has re-elected R.N. Minnikhanov, Prime Minister of the Republic of Tatarstan, as Chairman of the Board.