NCSP AGM and Record Date, Dividend Recommendation

and 2009 Dividend Recommendation

13 April 2010

PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) today announces the resolutions of the Board of Directors according to the Board meeting minutes № 10 SD NMTP dated April 12, 2010:

- To set the date of the Annual general meeting of shareholders (AGM) as June 4, 2010. AGM start time is 12:00 am.

- To set the record date for the AGM and dividends for 2009 as April 19, 2010.

- To hold the AGM in the form of joined attendance of the shareholders at the Port Worker's Club, 16 Portovaya Street, Novorossiysk, Russia. Attending shareholders to be registered at the place of AGM starting from 10:00 am on June 4, 2010.

- To approve the agenda of the AGM:

1. Approval of the Annual report (unconsolidated).

2. Approval of the Annual financial accounts (unconsolidated) including the Profit and Loss statement.

3. Approval of Distributions of Profit (unconsolidated) of 2009.

4. Approval of the amount and terms of payment of dividends of 2009.

5. Election of the Board of directors (Supervisory board).

6. Election of the General director (CEO).

7. Election of the Auditing commission members.

8. Approval of the Auditor.

9. Approval of compensation to members of the Board of directors who are not state employees as provided for in the company's internal regulations.

10. Approval of compensation to members of the Auditing commission who are not state employees as provided for in the company's internal regulations.

- To recommend the AGM to adopt the following distribution of PJSC NMTP net profit (unconsolidated) for 2009 in the amount of 5 392 816 931 rubles:

- To allocate 2 407 476 925 rubles for dividend payment;

- To allocate 2 985 340 006 rubles for PJSC NCSP future development.

- Dividends for 2009 shall be paid in cash in the amount of 0.125 rubles per share.

- Dividends shall be paid starting from 1 September 2010.

Further information related to the EGM will be made available to holders of PJSC NCSP depositary receipts via J.P. Morgan depositary bank.

About NCSP

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 for the 9 months of 2009 totaled $508.238 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:

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