OREANDA-NEWS. On 03 September 2008 NOVATEK announced the results of its Board of Directors meeting to recommend to the Extraordinary General Meeting of Shareholders (“EGM”) to approve dividend payments on the Company’s shares in the amount of RR 3,036,306,000 or RR 1.00 per one ordinary share. The Board’s Corporate Governance Committee recommended the dividend payment based on NOVATEK’s results for the first half of 2008 prepared in accordance to Russian accounting standards.

The Company’s EGM will take place on 2 October 2008. Shareholders of record at the close of business on the 24 July 2008 will be entitled to receive dividends and to participate in the Company’s EGM.