Acquisition

17 Oct 2005 07:00

LukOil (OAO)17 October 2005 PRESS RELEASE October 14, 2005 LUKOIL OVERSEAS ACQUIRES 65% OF ISSUED AND OUTSTANDING COMMON SHARES OF NELSON RESOURCES LIMITED OF BERMUDA LUKOIL Overseas announces that it has acquired 65% of the issued and outstandingcommon shares of Nelson Resources Limited. These shares have been acquired fromthe major shareholders with whom LUKOIL Overseas had entered into irrevocableagreements. As a result of the above transaction, LUKOIL Overseas becomes the owner of566,393,162 issued and outstanding common shares of Nelson Resources Limited. The acquisition price of US$ 2.1916 per share is equivalent to the recommendedoffer by LUKOIL Overseas to acquire 100% of fully diluted share capital ofNelson Resources Limited for US$ 2.0 billion, which was announced on October 13,2005. _____________________________________________________________________________ LUKOIL Overseas Holding Ltd. Press Service Phone +7 095 933 1847; fax +7 095 933 1824; email: gvolchek@lukoil-overseas.ru This information is provided by RNS The company news service from the London Stock Exchange