The 5th NIS Board of Directors Session was held

September 9, 2013

During the 5th Session the NIS Board of Directors considered the Company reports for the first six months of 2013. The Board of Directors' members approved the Financial Reports of NIS for the first half of the current year and the financial report for the same period. Likewise, the NIS Quarter Report for the second quarter of 2013 was approved. Vadim Yakovlev, the Chairman of the NIS Board of Directors, the Deputy Chairman of JSC Gazprom Neft Executive Board, stated that "the current year was extremely challenging for the majority of companies operating in the European market due to the restraining influence of the volatile macro-economic conditions on industry sector development. The key task assigned to the NIS management by the Company shareholders for 2013 was the development of the balanced development scenario in the conditions of low prices for some types of feedstock, for example, gas, growing financial obligations in part of tax payments, and the volume of receivables. As I see it, in such conditions the Company managed to ensure the business stability. In perspective, we expect to receive support of two major shareholders in solving the key NIS development issues including those related to discharge of obligations of major consumers".