Lukoil Corrects Press Reference to Auditing Firm

The article "Mitvol Will Audit the Auditors" in the April 19, 2007, issue of the Moscow daily Gazeta incorrectly refers to OAO Lukoil as a client of the DeGolyer & MacNaughton auditing firm, the Russian integrated oil company said.

OAO Lukoil said that it has never used the services of DeGolyer & MacNaughton.

Miller & Lents has been the company's independent auditor of hydrocarbon reserves since 1995, Lukoil said, noting that they completed their first reserves evaluation report for OAO Lukoil in accordance with the requirements of the US Society of Petroleum Engineers (SPE) and the World Petroleum Congress (WPC) on March 22, 1996.