Yandex Announces Secondary Offering of Class A Shares By Selling Shareholders

Yandex Announces Secondary Offering of Class A Shares By Selling Shareholders

MOSCOW and THE HAGUE, Netherlands, March 11, 2013 (GLOBE NEWSWIRE) -- Yandex
N.V. (Nasdaq:YNDX), one of Europe's largest internet companies, today
announced the commencement of an underwritten public offering of an aggregate
of 24,253,987 Class A shares by existing shareholders BC&B Holdings B.V.,
Belka Holdings Limited, Ilya Segalovich and Emerald Trust. The selling
shareholders have also granted the underwriters of the offering an option for
30 days to purchase up to an additional 2,425,399 Class A shares. Yandex will
not receive any proceeds from the offering.

BC&B Holdings B.V. holds shares on behalf of various funds advised by Baring
Vostok Capital Partners Limited, of whose subsidiary one of our non-executive
directors, Elena Ivashentseva, is a senior partner. Belka Holdings Limited is
an affiliate of Arkady Volozh, our Chief Executive Officer and an executive
member of our board of directors. Ilya Segalovich is our Chief Technology
Officer and an executive member of our board of directors. Yandex, each of the
selling shareholders, and Arkady Volozh have agreed with the underwriters to a
lock-up in respect of Yandex shares for a period of 90 days.

Morgan Stanley & Co. International plc, Deutsche Bank Securities Inc. and
Goldman, Sachs & Co. are acting as joint bookrunners for the proposed
offering. Morgan Stanley is acting as stabilization manager for the proposed
offering.

An automatic shelf registration statement relating to the Class A shares of
Yandex to be sold in the offering was filed today with the Securities and
Exchange Commission (SEC) and became effective upon filing. The offering of
these Class A shares is being made only by means of a prospectus and
prospectus supplement. You may obtain these documents for free by visiting
EDGAR on the SEC website at www.sec.gov. Alternatively, the prospectus and
prospectus supplement may be obtained from the offices of Morgan Stanley,
Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New
York10014, by telephone at: (866) 718-1649 or by emailing
prospectus@morganstanley.com; from Deutsche Bank Securities Inc., Attn:
Prospectus Department, 60 Wall Street, New York, NY 10005-2836, by telephone
at: (800) 503-4611 or by emailing prospectus.CPDG@db.com; or from Goldman,
Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282,
by telephone at: (866) 471-2526 or by emailing prospectus-ny@ny.email.gs.com.

This announcement does not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities, in any state
or jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction.

This announcement is not an offer, or an invitation to make offers, sell,
purchase, exchange or transfer any securities in Russia or to or for the
benefit of any Russian person, and does not constitute an advertisement or
offering to non-qualified investors of any securities in Russia. The
securities have not been and will not be registered in Russia or admitted to
public placement and/or public circulation in Russia. The preliminary
prospectus supplement cannot be provided to any person in the Russian
Federation who is not a "qualified investor". The securities are not intended
for "placement" or "circulation" in Russia except as permitted by Russian law.

Forward-Looking Statements

Statements in this release that are not historical facts are forward-looking
statements under the provisions of the Private Securities Litigation Reform
Act of 1995.By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on circumstances that
may or may not occur in the future. These risk and uncertainties include, but
are not limited to, the consummation of the offering by the selling
shareholders. Forward-looking statements reflect management's analysis as of
the date of this press release.Important factors that could cause actual
results to differ materially from our expectations are more fully described in
our filings with the SEC.Except as required by applicable law, we do not
undertake to publicly update or revise any of these forward-looking
statements, whether as a result of new information, future events or
otherwise.

About Yandex

Yandex is one of Europe's largest internet companies, operating Russia's most
popular search engine and most visited website. Yandex's mission is to help
users solve their everyday problems by building people-centric products and
services. Based on innovative technologies, the company provides the most
relevant, locally tailored experience on all digital platforms and devices.
Yandex also operates in Turkey, Ukraine, Belarus and Kazakhstan. More
information on Yandex can be found at http://company.yandex.com.

The Yandex Company logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10933

CONTACT: Investor Relations:
         Greg Abovsky, Katya Zhukova
         Phone: +7 495 974-35-38
         E-mail: askIR@yandex-team.ru
        
         Media Relations:
         Ochir Mandzhikov, Dina Litvinova
         Phone: +7 495 739-70-00
         E-mail: pr@yandex-team.ru

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