Mikhail Fridman Resigns As Chief Executive Officer Of TNK-BP

         Mikhail Fridman Resigns As Chief Executive Officer Of TNK-BP

PR Newswire

MOSCOW, May 28, 2012

MOSCOW, May 28, 2012 /PRNewswire/ --Mikhail Fridman has submitted a letter of
resignation to TNK-BP Ltd.'s Board of Directors, notifying his resignation
from the position of Chief Executive Officer of the TNK-BP Group.

Mikhail Fridman has also sent TNK-BP shareholders a letter of resignation from
the position of Chairman of the Management Board of TNK-BP Management, a
Russian subsidiary of TNK-BP Group which manages the Company's assets in
Russia and Ukraine, including the publicly traded TNK-BP Holding.

Both resignations take effect in 30 days.

After Mikhail Fridman's resignation, TNK-BP will be managed by a group of
executives who hold powers of attorney related to their areas of
responsibility. 

AAR shareholders German Khan and Victor Vekselberg remain with the business as
Executive Directors and Members of the Management Board.

SOURCE TNK-BP
 
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