Corporate action number CA000006737145
ISIN US67812M2070
Corporate action description

Wehave been advised byeuroclear onbelow

Euroclear bank has been advised ofabuyback offer onthe above
Mentioned security.

Information source: www.rosneft.com

This event issubject tothe approval ofthe shareholders atthe
Meeting tobeheldon 10/04/12.


Gdr holders that:
(i) owned their positions asofthe meeting record date
(ii) either voted against ordidnot submit avote inrespect of
The resolution1 (subject toits approval atthe meeting) orpart
1of resolution2 (subject toits approval atthe meeting),
Can have their shares purchased byrosneft atafixed price, as
Determined bythe companys board ofdirectors.


Usd equivalent ofrub 212.00net ofacancellation fee ofusd 0.05
Per gdr cancelled.

The independent valuation ofrosnefts share price was ordered by
Rosneft and conducted bycjsc
professional evaluation center (the pec) asof31/12/11, in
Total compliance with the requirements ofthe russian law. The
Valuation was confirmed bythe non-commercial partnership
association ofprofessional appraisers.

The market price ofrosnefts stock was calculated as6-month
31/12/12) weighted average price onmicex and lse and
Amounted torub 212per share.

Payment date:

Itisexpected that cash willbe remitted byrosneft tothe
Depositary nolater than 24/06/12. The depositary willconvert all
Received funds tousd and remit any payments owing toa
Participating gdr holder through the applicable clearing system


Ifthe value ofstock toberepurchased byrosneft exceeds 10
Percent ofthe net asset value, the stock willbe repurchased on
Apro-rata share basis.


Gdr holders willhave tocertify that they owned the gdrs asof
The record date and either voted against ordidnot submit any
Voting instruction with respect tothe resolution 1or
Resolution 2.

Withdrawal rights

Instructions may bewithdrawn atthe latest two hours before the

The agent has not released any official information yet

For information regarding the meeting tobeheldon 10/04, refer
Tothe event number 6718365.

More information willbe provided assoon asavailable

Instruction deadline More information willbe provided inapril
For additional information please contact your account manager
Information provided byEuroclear Bank S.A./N.V.