Standard & Poor's Revised NCSP Ratings

Standard & Poor's Revised NCSP Ratings

15.04.2011

Novorossiysk Commercial Sea Port Group (LSE: NCSP, RTS & MICEX: NMTP) hereby announces that Standard & Poor's Rating Services has revised NCSP's corporate rating and its Eurobond issue rating.

On April 15, 2011, Standard & Poor's Ratings Services lowered its long-term corporate credit rating on Novorossiysk Commercial Sea Port to 'BB-' from 'BB+' and removed it from CreditWatch, where it was placed with negative implications on Sept. 17 2010. The outlook is negative.

The Russia national scale rating on NCSP was also lowered to 'ruAA-' from 'ruAA+' and removed from CreditWatch negative.

At the same time, issue rating on the $300 million loan participation notes (LPNs) issued by Novorossiysk Port Capital S.A. and guaranteed by NCSP, was lowered to 'BB-' from 'BB+'.

Full text of the rating release may be found at: www.standardandpoors.com

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 2009 totaled 86.5 million tons (excluding Primorsk Trade Port), andc onsolidated revenue to IFRS for 9 months of 2010 totaled $499.4 million and net profit $233.0 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]; [email protected]