Certification Date Extended

13 Oct 2006 12:29

O.A.O. Tatneft13 October 2006 On October 13, 2006, OAO Tatneft issued the following press-release: OAO Tatneft announces extension of Certification Date under its GlobalDepositary Receipt Facility from October 30, 2006 to November 15, 2006. 13 October 2006 OAO Tatneft (the "Company") announced today that has extended from October 30,2006 to November 15, 2006 the first "Certification Date" designated under itsAmended and Restated Deposit Agreement, dated as of July 10, 2006 (the "DepositAgreement"), between the Company, The Bank of New York, as Depositary (the "Depositary"), and owners and beneficial Owners of Global Depositary Receiptsthereunder ("GDRs"). As before, the ordinary shares of the Company underlying all GDRs except thosebeneficially owned by persons who, on or before the extended Certification Date,(i) have certified that they are not "resident in the United States" or (ii)have certified that they are "qualified institutional buyers" (or "QIBs") andhave been approved by the Company, will be sold by the Depositary outside theUnited States pursuant to Regulation S under the U.S. Securities Act of 1933, asamended, and, upon completion of those sales, the proceeds of those sales willbe transferred to the beneficial holders of such GDRs on the terms andconditions of the Deposit Agreement. The certification process will beadministered by the Depositary. Owners and beneficial owners of GDRs maywithdraw the ordinary shares of the Company evidenced by their GDRs at any timeprior to the earlier of the extended Certification Date and the date on whichthey provide to the Depositary the certification described above.(1) Forward-looking statements: This press-release may contain certainforward-looking statements of OAO Tatneft. OAO Tatneft does not guaranteeoccurrence of any events mentioned in such statements or the time of theiroccurrence. -------------------------- (1) As noted in the Company's previous press-releases, a beneficial owner's certification that he, she or it either (i) is not "resident in the United States" or (ii) is a QIB and requests permission to continue to hold GDRs will not be effective unless the beneficial owner, together with the certification, deposits its GDR with the Depositary or transfers the relevant GDRs to a blocked account with The Depository Trust Company, in either case until after the extended Certification Date. The purpose of this requirement is to prevent beneficial owners that have either (i) certified non-U.S. residence or (ii) certified QIB status and requested permission to continue to hold GDRs from transferring their GDRs to a person who is resident in the United States prior to the extended Certification Date. This information is provided by RNS The company news service from the London Stock Exchange