New President Appointed at Rosneft

The Board of Directors Appointed Eduard Khudainatov the President of Rosneft

In accordance with the order of the Russian President Dmitry Medvedev and the directive of the Russian Government, the Board of Directors of Rosneft Oil Company appointed First Vice-President Eduard Khudainatov the President of the Company starting from September 6, 2010.

Prior to his appointment as Rosneft's President Eduard Khudainatov has been Vice-president and then First Vice-President of Rosneft. He was responsible for exploration, production and strategic projects. Prior to join Rosneft Eduard Khudainatov was the General Director of Severneftegaz, subsidiary of Gazprom, where he successfully implemented the development of Yuzhno-Russkoye field, one the largest gas fields in Russia. Before Severneftegaz Eduard Khudainatov occupied leading positions in the Russian public authorities, including the Executive Office of the President of the Russian Federation.

Commenting on the appointment, Rosneft's Chairman Igor Sechin said: "Rosneft today is the leader of the Russian oil industry. I'm confident that Eduard Khoudainatov has the experience and insights to lead the management team as Rosneft enters its next development stage".

Rosneft Information Division

Tel.: +7 (495)-221-31-07

Fax: +7 (495)-411-54-21

[email protected]

September 05, 2010