Корпоративное действие PJSC Novorossiysk Commercial (DRs REGS) — a buyback offer-update

We have been advised by euroclear on new information.
New information dated 11/02/11: pro ration

The offer will be executed on a pro-rata basis with a ratio of 0.2990 (rounding down).

Previous information
Event details
We have been advised of a buy-back offer for above mentioned security.

This event was approved during the shareholders' meeting convened for 16/12/10.

GDR holders who:
1) Owned their positions as of 08/11/2010, the egm record date and
2) Either voted against or did not submit a vote in respect of the transaction proposal are eligible to have their shares purchased by Novorossiysk Commercial Sea Port (’NCSP’) at a fixed price determined by the board of directors of rub 4.90 per ordinary share.
The consideration paid on shares delivered into the buyback by will be converted into us dollars and remitted to the participating gdr holder net of a cancellation fee of usd 0.05 per GDR cancelled.The consideration paid on shares delivered into the buyback by will be converted into us dollars and remitted to the participating gdr holder net of a cancellation fee of usd 0.05 per GDR cancelled.

Certification:
Holders who wish to participate in the buyback will be required to certify that they owned their gdrs as of the egm record date of 08/11/10 and either voted against or did not submit any voting instruction with respect to the transaction proposal.

We are currently investigating with the depositary on the certifications process.We are currently investigating with the depositary on the certifications process.

The certification form has been made available on www.euroclear.com.

To access this document, select the ’corporate actions eb’ page and enter the corporate action event number. participants must be registered euroclear bank website users to access this information.

This corporate action notification does not constitute an offer to sell or the solicitation of an offer to buy any securities by anyone in any jurisdiction. it is not, and should not be construed or treated as, investment or financial advice. in providing this information, Euroclear Bank is not acting as agent of the issuer.

By sending an instruction, you confirm to Euroclear Bank that you (and any beneficial owner(s) for whom you act) comply with the terms and conditions of the offer.