NCSP Starts 2009 Dividend Payments

NCSP Starts 2009 Dividend Payments

02.09.2009

PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS AND MICEX: NMTP) reports the commencement of 2009 dividend payments.

According to NCSP's AGM decision dated June 4, 2010 the company has allocated 2 407 million rubles for dividend payout at the rate of 0.125 ruble per ordinary share. Registry close date for dividends was 19 April 2010.

On the first day of payment - 1 September 2010 - NCSP has paid out some 2 160 million rubles or close to 90% of the total amount of dividends declared. This includes the dividends on the 20% government's stake, dividends to GDR holders, and other shareholders.

Dividends to GDR holders (75 ordinary shares per one GDR) in the amount of 458 million rubles (withholding 15% profit tax) were paid to JP Morgan Chase Bank NA (depositary bank) account at the Savings Bank of the Russian Federation (Sberbank). JP Morgan will perform the FX conversion and transfer the dividends to respective GDR holders' account in DTC, Euroclear, Clear Stream, and other. It may take some 10 business days from the date the dividend is received by the depositary bank for the dividends to be paid out to the actual holders of the GDRs.

Dividends to legal entities and physical persons are paid by bank transfers or money orders according to account details or address provided, as well as in cash at NCSP cash office. Shareholders who are NCSP employees will receive dividends at the time of nearest payment of wages.

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 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