LUKOIL Press Office announces that the company did not bid for a 75% stake in Rafineria Gdanska due to the fact that LUKOIL and Rotch Energy were unable to reach an agreement for the main provisions of the consortium.

            At the same time LUKOIL remains interested in acquiring shares in Rafineria Gdanska at the terms presented earlier.

            As LUKOIL management stated repeatedly an increase of oil refining capacities outside Russia is important for the strategy of maximization of oil product sales at European markets.

Press Centre  OAO "LUKOIL"
phone.: (095)927-1677,  fax: (095)927-1653,
E-mail: pr@lukoil.com