Russian regulatory disclosure

25 January 2012

On 24 January 2012, OAO Tatneft (the "Company") issued a Russian regulatory disclosure disclosing an event affecting, in the opinion of the Company, the value of the Company's shares: the income before tax of the Company for 2011 is expected to be approximately 80 bln rubles.

Forward-looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. OAO Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.