RNS Number:7326S
LukOil (OAO)
17 October 2005







                                   PRESS RELEASE

                                October 14, 2005




 LUKOIL OVERSEAS ACQUIRES 65% OF ISSUED AND OUTSTANDING COMMON SHARES OF NELSON
                          RESOURCES LIMITED OF BERMUDA



LUKOIL Overseas announces that it has acquired 65% of the issued and outstanding
common shares of Nelson Resources Limited. These shares have been acquired from
the major shareholders with whom LUKOIL Overseas had entered into irrevocable
agreements.



As a result of the above transaction, LUKOIL Overseas becomes the owner of
566,393,162 issued and outstanding common shares of Nelson Resources Limited.



The acquisition price of US$ 2.1916 per share is equivalent to the recommended
offer by LUKOIL Overseas to acquire 100% of fully diluted share capital of
Nelson Resources Limited for US$ 2.0 billion, which was announced on October 13,
2005.





 _____________________________________________________________________________

                   LUKOIL Overseas Holding Ltd. Press Service

 Phone +7 095 933 1847; fax +7 095 933 1824; email: gvolchek@lukoil-overseas.ru




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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