REG-OAO Novatek Dividend Declaration

MOSCOW--(Business Wire)--

NOVATEK`s AGM APPROVES 2008 DIVIDENDS

Moscow, 27 May 2009. OAO NOVATEK announced that the Annual General Meeting of
Shareholders (AGM) approved the Company`s dividends payment for 2008.

The AGM resolved to pay dividends in the amount of RR 1.52 per one ordinary
share or

RR 15.2 per one Global Depositary Receipt (GDR). The total dividend distribution
for 2008, including interim dividends paid for first half of 2008, amounts to

RR 2.52 per one ordinary share or RR 25.2 per one GDR.

The interim dividend is payable 60 days after shareholder approval, to
shareholders of record of the list of persons entitled to receive dividends
compiled on 20 April 2009, which also coincided with the date for making a list
of those entitled to attend the Company`s AGM.

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

Press Service Investor Relations
+7 (495) 721 2207 +7 (495) 730 6020
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 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) 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".

OAO Novatek

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