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Yandex Announces Board Authorization of a Share Repurchase Program



Yandex Announces Board Authorization of a Share Repurchase Program

MOSCOW and THE HAGUE, Netherlands, March 11, 2013 (GLOBE NEWSWIRE) -- Yandex
N.V. (Nasdaq:YNDX), one of Europe's largest internet companies, today
announced that its Board of Directors has authorized a program to repurchase
up to 12 million Class A shares, commencing after the completion of the
distribution in connection with the secondary offering of Class A shares also
announced today. Such shares may be repurchased from time to time in open
market transactions. The timing and amount of share repurchases will depend on
a variety of factors, including market conditions. Yandex intends to make all
repurchases in compliance with applicable regulatory guidelines and to
administer the program in accordance with applicable laws, including Rule
10b-18 under the Securities Exchange Act of 1934, as amended. The company
intends to enter into a repurchase plan under Rule 10b5-1 under the Exchange
Act in respect of substantially all of the shares to be repurchased under such
program, and may also make additional repurchases from time to time outside
such plan. The repurchase program will be in effect until at least November
14, 2013, and, if the company's shareholders renew the board's authority to
repurchase company shares at the 2013 annual general meeting of shareholders,
will be extended until March 2014.

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 secondary offering by selling
shareholders noted above and the completion of the Company's share repurchase
program. 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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