NCSP Operating Results for January-August 2010

NCSP Group Operating Results for January-August 2010

13.09.2010

The Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS and MICEX: NMTP) hereby reports its consolidated operating results for January-August 2010. In the reporting period NCSP Group's cargo turnover amounted to 57 132.1 thousand tons, which is by 1.7% (1 010.4 thousand tons) less than in the same period of 2009.

In the reporting period the total amount of cargoes that demonstrated positive growth rates recorded an aggregate growth of 2 070.5 thousand tons versus January-August 2009. In the meantime 49.8% of this increase was contributed by high-margin cargo like containers and non-ferrous metals. Timber cargo, dry mineral fertilizers, and perishable cargo contributed another 34.2% of the total increase.

On the other hand, the aggregate decrease of the cargoes that demonstrated negative dynamics comprised 3 080.9 thousand tons, of which 71.1% was contributed by the reduction in iron ore and crude oil volumes.

Liquid cargo volumes in January-August 2010 have reduced slightly - by 3.5% (1 365.6 thousand tons) - versus January-August last year.

In the segment of bulk cargo volumes of mineral fertilizers and raw sugar showed positive dynamics in the eight months of 2010 and increased by 47.4% (450.3 thousand tons) and 22.6% (241.9 thousand tons) versus same period of 2009 respectively.

Handling of iron ore and ore concentrate in the reporting period totaled 977.3 thousand tons, which is by 54.5% less than the volumes for same period last year. Meanwhile in the second half of 2010 volumes of this cargo were growing on the back on newly signed contracts, and in August 2010 reached the expected level of 300 thousand tons per month.

Volumes of grain in January-August 2010 reduced by 140.8 thousand tons (2.4%) versus same time last year. In August 2010 prior to the enactment of the state ban on export of grain from the Russian Federation the companies of NCSP Group loaded 528.4 thousand tons of grain, of which 328.6 thousand tons were transshipped by PJSC Novorossiysk Grain Terminal.

Presently PJSC NGT is carrying out maintenance and service works at the terminal and conducting active negotiations with major players in the grain market to attract transit shipments of grain from Kazakhstan and other regions.

General cargo traffic in the reporting period versus January-August 2009 increased by 127.3 thousand tons (1.7%). Volumes of timber cargo increased by 183.6 thousand tons (30.4%), non-ferrous metals are up by 117.4 thousand tons (19.6%), and perishable cargo grew by 74.4 thousand tons (82.0%).

In the reporting period container traffic at all terminal of NCSP Group continued stable growth, and totaled 284.3 thousand TEU, exceeding the volume of same period last year by 82.4% (128.4 thousand TEU).

NCSP Group Operating Results for January-August 2010

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; IR@nmtp.info