NVTK: OAO Novatek: NOVATEK Elects New Board of Directors

  NVTK: OAO Novatek: NOVATEK Elects New Board of Directors

UK Regulatory Announcement

MOSCOW

                    NOVATEK ELECTS NEW BOARD OF DIRECTORS

Moscow, 28 April 2010. OAO NOVATEK announced that the Annual General Meeting
of Shareholders (AGM) has approved the election of new members to the Board of
Directors.

The Board of Directors is comprised of the following members:

Akimov, Andrei Igorevich: Chairman of the Management Board of Gazprombank;

Burckhard Bergmann: member of the Board of Directors of NordStream AG, OAO
Gazprom, Allianz Lebensversicherungs-AG, Commerzbank AG, E.ON Energie AG,
Jaeger Beteiligungsgesellschaft mbH& Co KG, Telenor; a member of the Advisory
Boards for Dana Gas, Dubai Akkumulatorenwerke Hoppecke Carl Zoeellner& Sohn
GmbH, Contilia GmbH and IVG Immobilien AG;

Dmitriev, Vladimir Alexandrovich: Chairman of the Board of Directors of State
Corporation "Bank for Development and Foreign Economic Affairs
(Vnesheconombank)";

Gyetvay, Mark Anthony: Deputy Chairman of the Management Board, Chief
Financial Officer of NOVATEK;

Mikhelson, Leonid Viktorovich: Chairman of the Management Board of NOVATEK;

Natalenko, Alexander Yegorovich: Chairman of the Board of Directors of
NOVATEK, State Prize Laureate and Honored Geologist of the Russian Federation;

Seleznev, Kirill Gennadievich: member of the Management Board of Gazprom,
Director of Gazprom’s Gas and Liquid Hydrocarbons Marketing and Processing
Department and General Director of Mezhregiongaz;

Timchenko, Gennady Nikolaevich: Chairman of the Board of Transoil; and

Vardanian, Ruben Karlenovich: Chairman of the Board of Directors of Troika
Dialog Group.

The Board of Directors is comprised of seven non-executive directors.

Following the AGM, the Board of Directors held its first meeting whereby
Alexander Natalenko was elected Chairman of the Board and the members of the
three Board committees and one sub-committee were elected.

The Strategy and Investments Committee is now comprised of the following
members: Mark Gyetvay (Chairman), Alexander Natalenko, Kirill Seleznev,
Gennady Timchenko and Burckhard Bergmann. The Sub-committee for LNG projects
is now comprised of the following members: Burckhard Bergmann (Chairman), Mark
Gyetvay and Gennady Timchenko. TheAudit Committee is now comprised of
Vladimir Dmitriev (Chairman), Ruben Vardanian and Andrei Akimov. The Corporate
Governance and Remuneration Committee is now comprised of  Ruben Vardanian
(Chairman),Alexander Natalenko and Burckhard Bergmann.

                                     ***

For further information, please visit www.novatek.ru or contact:

Press Service      Investor Relations
+7 (495) 721 2207   +7 (495) 730 6013
press@novatek.ru    ir@novatek.ru


                                     ***

OAO NOVATEK is Russia’s largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, the Company is
engaged in the exploration, production, processing and marketing of natural
gas and liquid hydrocarbons. The Company’s upstream activities are
concentrated in the prolific Yamal-Nenets Autonomous Region, which is the
world's largest natural gas producing area and accounts for over 90% of
Russia's natural gas production and 20% of the world’s gas production. NOVATEK
is an open joint stock company established under the laws of the Russian
Federation. The Company’s shares are listed on the Russian Trading System
(RTS), MICEX Stock Exchange and the London Stock Exchange (LSE) under the
ticker symbol ‘NVTK’ and on the NASDAQ PORTAL System as Rule 144A GDR under
the ticker symbol “NVATY”.

Contact:

OAO Novatek