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Vladimir Milovidov Appointed Vice-President at Rosneft

13 April 2011

Vladimir Milovidov, formerly head of Russia’s Federal Financial Markets Service (FFMS), has been appointed Vice-President at Rosneft.

Mr. Milovidov will be responsible for innovation development and the introduction of new technologies in business processes. He will oversee the Department of Scientific and Technological Development and Innovation, which replaces the defunct Corporate Research and Development Center.

Mr. Milovidov’s position was created on 25 March 2011 by Rosneft’s Board of Directors and will be part of the company’s Central Management Office.

From 2007 until his appointment at Rosneft, Vladimir Milovidov served as head of the Federal Financial Markets Service. Prior to that, from 2004-07, he worked as an assistant to the chairman of the government of the Russian Federation, before which he was head of the Government Office’s Department of Financial Markets and Property Relations.

Mr. Milovidov graduated from Moscow State University with a degree in Economics. Later he earned a Ph.D. in Economics. He was born in 1960.

            Information Division
            Tel.: +7 (495) 221-31-06
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            April 13, 2011

These documents contain projections or other forward-looking statements regarding future events. All statements herein, other than the statements on historical accounting periods, are statements that may be deemed forward-looking statements due to all kind of risks and uncertainties and other factors that could cause the actual events or results to differ materially from those contained expressly or by implication in these projections or forward-looking statements. We assume no obligation and do not intend to update these statements to reflect actual events, the occurrence of unanticipated events or factors that could affect the forward-looking statements.