NCSP elects Chairman of the Board and Committees

 NCSP elects Chairman of the Board,

Auditing Committee, and Nomination and Remuneration Committee

05 July 2010

PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) announces the election of the Chairman of the Board of Directors, as well as members and chairpersons of the Auditing committee and the Nomination and remuneration committee.

On June 01 2010 the Board of Directors of PJSC Novorossiysk Commercial Sea Port approved the following resolutions in the form of absentee voting.

- To elect Alexander A. Ponomarenko as the Chairman of the Board of Directors.

- To elect the Auditing Committee of PJSC NCSP consisting of 3 persons: Georgy A. Koryashkin; Tamara A. Pakhomenko; Alexander A. Ponomarenko.

- To elect Georgy A. Koryashkin as the Chairman of the Auditing Committee of PJSC NCSP.

- To elect the Nomination and Remuneration Committee of PJSC NCSP consisting of 3 persons: Georgy A. Koryashkin; Tamara A. Pakhomenko; Alexander A. Ponomarenko.

- To elect Georgy A. Koryashkin as the Chairman of the Nomination and Remuneration Committee of PJSC NCSP.

- To qualify these members of the Board of directors - Alexander N. Shokhin, Alexander A. Ponomarenko, Eugene I. Gorlakov, and Georgy A. Koryashkin - as independent directors according to PJSC NCSP Corporate Governance Code.

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]