Tatneft improves terms of 2009 loan facility

Tatneft announces improvement of terms of USD 1.5 bln facility

6 August 2010

OAO Tatneft (the "Company") announces today that the Company has reached an agreement with the lenders under the USD1.5 bln pre-export syndicated facility arranged in 2009 (the "2009 Facility") to decrease the margins of the 2009 Facility and substantially decrease the amount of crude oil volumes used as collateral for this facility. The margins were decreased to LIBOR plus 3.10% and 4.10% for the 3 and 5 year tranches, respectively.

WestLB AG acted as mandated sole coordinator of the process.

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