Pjsc Novor. S Regulatory News (NCSP)

Press release

Rado Antolovic "First quarter 2012 - record quarterly total cargo turnover in Group's history and revenue growth by 18%"

Novorossiysk Commercial Sea Port Group ("NCSP Group" or the "Group") (LSE: NCSP, MICEX: NMTP) announces its consolidated financial results for the first quarter 2012 in accordance with International Financial Reporting Standards (IFRS).

According to Rado Antolovic, acting CEO of PJSC NCSP: "There were extremely severe weather conditions in Novorossiysk in the beginning of this year. The transshipment of certain cargoes was shut down for more than 30 days due to this circumstances".

"Key tasks of Group's management team in these days were effective dispatching of cargoes addressed to the port and cooperation with Russian Railways. Once these issues were efficiently solved, Group managed to transship 41 million tons of cargo in the reporting period, which represents record quarterly cargo turnover volume in Group's history. This is 10.4% increase compared with the same period of the previous year and exceeds industry average growth rate (+5.3%) by almost two times", - Rado Antolovic added.

It should be noted that in the first quarter of 2012 NCSP Group's share in total Russian Sea Ports turnover exceeded 32% compared to 29% in 2011.

Q1 2012 results highlights:

Consolidated revenue amounted to $275 million which represents 18% growth compared to the same period of 2011

EBITDA increased by 48% compared to the first quarter 2011 to $174 million

Group's EBITDA margin amounted to 63.4% compared to 50.5% in Q1 2011 and 54.8% in Q4 2011

Cost of services decreased by 6% to $108 million

Gross profit amounted to $166 mln, which represents 41% increase versus Q1 2011

Group's net profit amounted to $253 million, which represents 76% increase versus Q1 2011

According to Rado Antolovic "in accordance with the announced plans for leverage reduction, the Group's net debt during the first quarter declined by $99 million to $2,280 million. As a result Net Debt/EBITDA as of 31 March 2012 amounted to 3.8x compared to 4.3x as the end of 2011.

Full version of NCSP Group interim condensed consolidated financial statements for the three months ended 31 March 2012" is available on the Group's website (nmtp.info) here:

 Investor Relations/Reporting/Consolidated Financials under IFRS

Conference Call

On June 22, 2012 at 2-00 pm Moscow time, NCSP will host an analyst & investors conference call.

The conference call will be hosted by Rado Antolovic, acting CEO of PJSC "NCSP" and Anton Vishanenko, Deputy CEO for Finance and Economy of PJSC "NCSP".

The conference call presentation will be available one hour prior the call on the Company's web-site (www.nmtp.info).

Dial-in Details

Russian dial in: +81 0800 2806 3011

UK dial in: +44 20 7162 0077

US dial in: +1 334 323 6201

Conference ID 918734

About NCSP Group

NCSP Group is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP). 50.1% shares of PJSC NCSP belong to Novoport Holding Ltd, beneficiaries owners of which are JSC "Transneft" and Ziyavudin Magomedov (Summa Group). NCSP Group cargo turnover in 2011 totaled 157 million tons. Consolidated revenue according to IFRS in 2011 totaled $1 050 million and EBITDA of $550 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, Primorsk Oil Terminal Ltd (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC NLE, OJSC IPP, and Baltic Stevedore Company Ltd.

For more information please contact:

Media: M.Sidorov@nmtp.info; senko@ncsp-net.com;

Investement Community: MGrigoriev@nmtp.info