OREANDA-NEWS. April 11, 2011. PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) announces the resolution of the Board of Directors:

-To elect ZiyavudinMagomedovas the Chairman of the Board of Directors.

Commenting on the Board’s decision ZiyavudinMagomedov said: "NCSP Group opened this year with the largest and possibly the most promising transaction in its history. New ambitious shareholders which joined the company are committed to actively develop the business and increase its efficiency. I am confident that the Board of Directors and the management will be able to realize new opportunities open to the Group, and stand up to the expectations of the shareholders who supported the merger of the two largest and the fastest growing ports in Russia".

Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3d operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares). NCSP Group consolidated cargo turnover in 2009 totaled 86.5 million tons (excluding Primorsk Trade Port), andconsolidated revenue to IFRS for 9 months of 2010 totaled USD 499.4 million and net profit USD 233.0 million. NCSP Group includes the following stevedore companies: PJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.