Pjsc Novor. S Regulatory News (NCSP)

Press-release

Results of PJSC NCSP Extraordinary General Meeting of Shareholders

28.03.2011

PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS & MICEX: NMTP) reports the results of the Extraordinary General Meeting of Shareholders held on 25 March 2011 at 16 Portovaya street, Novorossiysk, Krasnodar region, Russian Federation.

Shareholders representing 17 773 024 907 of NCSP voting shares (as registered by the close of shareholder registration), which accounts for 92.28% of the total number of outstanding voting shares of NCSP (19 259 815 400 shares), attended the meeting.

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

1. To terminate the powers of the Board of directors of PJSC NCSP.

2. To elect the new Board of Directors of PJSC NCSP consisting of:

- Mikhail M. Arustamov, First Vice-President of Transneft JSC;

- Alexander A. Davydenko, Head of Federal Agency of Sea and River Transportation;

- Vitaliy N. Kisenko, Head of Legal Department of Transneft JSC;

- Ziyavudin Magomedov, Chairman of Investment Group «Summa Capital»

- Victor A. Olerskiy, Deputy Minister of Transportation of Russia;

- Yuriy A. Soloviev, President of VTB Capital;

- Boris A. Tikhonenko, Director General of Primorsk Trade Port Ltd.

3. To terminate the powers of the Auditing Commission of PJSC NCSP.

4. To elect the new Auditing Commission of PJSC NSCP, consisting of:

- Ekaterina A. Vlasova;

- Tatyana P. Nesmeyanova;

- Margarita V. Russkikh;

- Tamara P. Stretovich;

- Artur V. Shamkut.

Commenting on the EGM results, General Counsel and Vice President of the NCSP Group Petr Maximov said: «As a result of the acquisition of Primorsk Trade Port, the lineup of NCSP shareholders changed, which called for the new Board to be elected. By electing two representatives of Summa Capital - Ziyavudin Magomedov and Boris Tikhonenko; two representatives of Transneft - Mikhail Arustamov and Vitaliy Kisenko; and two representatives of the Russian Government - Alexander Davydenko and Victor Olerskiy the new shareholders received adequate representation on the key corporate governance body - the company's Board of Directors. Moreover, the independent director seat was given to one of the most prominent representatives of investment community - President of VTB Capital Yuriy Soloviev. Such a presentable composition of the Board of Directors will surely foster business efficiency improvement and further modernization of the company».

About NCSP

Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3d 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 (NCSP) in the form of GDRs (1 GDR representing 75 shares). NCSP Group consolidated cargo turnover in 2009 totaled 86.5 million tons (excluding Primorsk Trade Port), andc onsolidated revenue to IFRS for 9 months of 2010 totaled $499.4 million and net profit $233.0 million. NCSP Group includes the following stevedore companies: PJSC 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:

+7 (8617) 650 043; senko@ncsp-net.com; IR@nmtp.info