Notice of AGM: Record Date and Dividend Proposal

 NCSP announces AGM Date, Record Date, and 2010 Dividend Recommendation

28 April 2011

PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, MICEX: NMTP) hereby announces the resolutions of the Board of Directors according passed on 25 April 2011, as per Board minutes №12 dated 27 April 2011:

- To set the date of the Annual general meeting of shareholders (AGM) as 30 June 2011, and begin the AGM at 12:00 am.

- To set the record date for the AGM and dividends for 2010 as 11 May, 2011.

- 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 30 June 201.

- 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 2010.

4. Approval of the amount and terms of payment of dividends of 2010.

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

6. Election of the Auditing commission members.

7. Approval of the Auditor.

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

9. 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 approve the following decision on the amount of dividends to be paid and payment procedures

- to determine the 2010 dividend in the amount of 0.023 ruble per share;

- to pay the 2010 dividend in the total amount of 431091964.79 rubles in cash;

- not to attribute and not to pay dividends on 516 686 496 NCSP shares held on the balance of PJSC NCSP;

- to pay out the 2010 dividend by 29 August 2011 as required by paragraph 4 article 42 of the Federal law on joint-stock companies.

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 Group

Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3d operator in Europe in terms of cargo turnover. 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 consolidated cargo turnover in 2010 totaled 81.6 million tons (excluding Primorsk Trade Port); consolidated revenue to IFRS for 2010 totaled $635.3 million; 2010 net profit totaled $258.4 million. NCSP Group includes the following stevedore companies: PJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.

For more information please contact:

+7 (8617) 650 043; [email protected]