Notification of Change of Management Shareholding

Notification of Increase of Management Shareholding

The President of Rosneft Eduard Khudainatov increased his shareholding from 0.0028% to 0.0051%.

The member of the Management Board Larisa Kalanda increased her shareholding from 0.0025% to 0.0035%.

The member of the Management Board Peter O'Brien increased his shareholding from 0.0024% to 0.0047%.

The member of the Management Board Sergey Tregub increased his shareholding from 0% to 0.0007%.

The member of the Management Board Gani Gilaev increased his shareholding from 0.00009% to 0.0004%.

The member of the Board of Directors Alexander Nekipelov reduced his shareholding from 0.0004% to 0.0003%.

Detailed breakdown of management shareholding is available on Rosneft's website in the «Corporate Governance» section.

Rosneft Information Division

tel: +7 (495) 221-31-07;

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

[email protected]

December 10, 2010