New shareholders structure

GEOTECH Holding JSC (hereinafter referred to as the «Geotech» or the «Company») as one of the global leading oil servicing companies shall declare of selling its 25% of shares to the investment fund as the Volga Resources Sicav-SIF S.A. («Volga Resources»). In accordance with this transaction terms the respective part of shares must be purchased from the existing corporate shareholders while the remaining part should be acquired by an additional issue procedure.

Upon completion of the transaction as above the capital stock of the GEOTECH Holding JSC shall be assigned among such entities as the Farallon Capital Management, Pinebridge Russia Century Partners, L.P. (former AIG Russia Century Fund), Volga Resources and corporate top managers respectively.

As Nikolai Levitskiy, the Holding President, said: «We greet such a procedure of the Volga Resources Investment Fund to be entered into the GEOTECH Holding JSC shareholders and we consider such synergistic interrelationship with any other fund assets enables to strengthen our positions within our inner and CIS markets and gains momentum to any new market development issues as well».

The corporate data: The GEOTECH Holding JSC is one of the largest oil servicing companies throughout the world. Its personnel consists of more than 12,000 staff members including respective high skilled specialists per such realms as seismology examination and drilling performance of various types. With using its high technological equipment and own expert solutions the GEOTECH Holding performs any kinds of field seismic works including seismic exploration of terrestrial and intermediate areas. Apart from it the company elaborates its explorative and maintenance drilling procedures with purpose to develop this line of activities furthermore.

The private investment fund as the Volga Resources SICAV SIF S.A. was established in 2007 in Luxemburg with reason to make relevant investments into any projects of the oil and gas fields, infrastructure, development and financial services in Russia and CIS countries, Central and Eastern Europe, Turkey. The principal beneficiary of the Volga Resources Fund is Mr. Gennady Timchenko as also the owner of a substantial part of the Gunvor, one of the global largest oil traders. In 2009 the Volga Resources Fund acquired almost 20% of shares of the Novatec Open JSC and the second largest natural gas manufacturer in Russia. Besides, the Volga Resources has a control stock of the Stroytransgas Open JSC as leading Russian engineering and construction company of the fuel energy industry.

For any more details please address to:

Denis Cherednichenko

Vice President for Corporate Development and Investment, GEOTECH Holding JSC

+ 7 495 580 78 80 Fax: +7 495 580 78 81 dcherednichenko@geotechcom.ru