Pjsc Novor. S Regulatory News (NCSP)

Press-release

Results of NCSP's Annual General Shareholders' Meeting

01.07.2011

 PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) today announces the results of its Annual General Meeting of Shareholders held on June 4, 2010 at 16 Portovaya street, Novorossiysk, Krasnodar region, Russian Federation.

 Shareholders representing 17 281 188 906 of NCSP's voting shares (as registered by the time of the meeting's opening), which accounts for 92.2001% of the total number of outstanding voting shares of NCSP, participated in the meeting.

 The following decisions were passed as per the agenda of the meeting:

 • To approve the Annual report of PJSC NCSP for 2010. • To approve the annual financial accounts of PJSC NCSP for 2010 including the Profit and Loss statements. • To distribute the net profit for 2010 in the amount of 7 908 798 682,67 rubles as follows: • 431 091 964,79 rubles shall be allocated for 2010 dividend payout,• 7 477 706 717,88 rubles shall be allocated for the development of PJSC NCSP. • To pay dividends for 2010 in cash in the amount of 0,023 rubles per share till August 29th, 2011. • To elect the Board of Directors of PJSC NCSP consisting of:

- Mikhail M. Arustamov,

- Vitaliy N. Kisenko, - Ziyavudin G. Magomedov

- Pavel A. Potapov, - Yuri A. Solovyov, - Boris A. Tikhonenko. The seventh place in the Board of Directors is reserved for the RF Government representative, which will be appointed by the Government in accordance with the special right "golden share".

• To elect The Auditing Commission of PJSC NSCP, consisting of: - Ekaterina A. Vlasova, - Tatyana P. Nesmeyanova, - Margarita V. Russkih, - Artur V. Shamkut'. The fifth place in The Auditing Commission is reserved for the RF Government representative, which will be appointed by the Government in accordance with the special right "golden share".

• To approve Deloitte & Touche CIS as the Company's Auditor for 2011. • To approve annual remuneration of the members of the Board of Directors - non-state employees for the period of performing their duties as Directors in the amount of 40 000 rubles. • To approve annual remuneration of the members of the Auditing commission - non-state employees for the period of performing their duties in the amount of 12 000 rubles. 

About NCSP Group

Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's RTS and MICEX exchanges (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP). NCSP Group consolidated cargo turnover in 2010 totaled 81.6 million tons (excluding Primorsk Trade Port), and consolidated revenue to IFRS for 2010 totaled $635.3 million and net profit of $258.0 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.

For more information please contact:

andrei.bubnov@nmtp.info; senko@ncsp-net.com