Kadina Restructures Its Holding in NCSP

Press-release

Kadina Limited Restructures Its Holding of Controlling Interest in NCSP

 17.09.2010

 The Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS and MICEX: NMTP) has been informed by its controlling shareholder, Kadina Limited (Kadina), that Kadina has restructured its shareholding in NCSP by transferring all of Kadina's shares in NCSP to Kadina's newly formed wholly-owned subsidiary, Novoport Holding Ltd., a company incorporated under the laws of the British Virgin Islands.

About NCSP Group

Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. Group's consolidated cargo turnover in 2009 totaled 86.5 million tons. Consolidated revenue to IFRS in 2009 totaled $675.1 million and net profit $252.2 million.

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 includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.

For more information please contact:

Tel.: +7 (495) 783-5434; [email protected]