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PJSC Novorossiysk (NCSP)

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Friday 02 November, 2007

PJSC Novorossiysk

Pricing of GDR

PJSC Novorossiysk Comm. Sea Port
02 November 2007



    This document (and the information contained herein) is not for release,
  publication or distribution in or into the United States, Australia, Canada,
                         Japan and Russian Federation.


     Novorossiysk Commercial Sea Port announces pricing of US$19.20 per GDR


2nd November 2007


Public Joint Stock Company Novorossiysk Commercial Sea Port ('NCSP'), a
multi-purpose Russian stevedoring and port services company and Russia's largest
commercial sea port operator, today announces the pricing for its  offering of
ordinary shares and global depositary receipts representing ordinary shares 
('GDRs').


The pricing has been set at US$19.20 per GDR, with each GDR representing an
interest in 75 ordinary shares, implying a market capitalisation of NCSP of
approximately US$ 4.9 billion.


Conditional dealings in the GDRs are expected to commence on the London Stock
Exchange today. Admission of GDRs to the Official List of the UK Listing
Authority, and dealing of the GDRs on the London Stock Exchange's main market
under the symbol NCSP, is expected to take place on 8 November 2007.


NCSP's existing ordinary shares have been admitted to list 'V' on the Russian
Trading System Stock Exchange ('RTS'). Dealings in the shares on the Classic
Market of RTS, under the symbol NMTP are expected to commence on 2 November
2007.


Morgan Stanley and Troika Dialog were Joint Global Coordinators, Joint Lead
Managers and Joint Bookrunners for the offering.


Alexander Ponomarenko, Chairman of the Board of NCSP, said:



'The positive result of this transaction demonstrates investors' confidence in
the prospects and strategy of NCSP. This transaction will not only start a new
era of NCSP development, it will also act as a catalyst for further growth of
the Russian maritime industry'.



For further information please contact:



College Hill Associates, London
Simon Whitehead/Tony Friend/Paddy Blewer
Tel. +44(0)20 7457 2020
[email protected]


Mikhailov & Partners Agency, Moscow
Alexey Ryabinkin/ Alexey Yudin
Tel. + 7 (495) 956 39 72
[email protected]


Notes for Editors



NCSP operates primarily at the Port of Novorossiysk (the 'Port'), a
multi-purpose, year-round, deep-water port located on the Russian shore of the
Black Sea which has geographic, topographic and infrastructure advantages in
comparison to ports and potential port sites in the Black Sea-Azov basin. The
Port is Russia's largest sea port in terms of cargo turnover volume according to
the Association of Russian Sea Ports, and Europe's fifth largest commercial sea
port by cargo volume in 2005, according to Global Insight/ISL.

NCSP is a key Southern gateway for the import and export of a wide range of
cargoes to and from the Russian economy (including oil, oil products, timber,
grain, fertilizers, ferrous metals, containers, automobiles and general cargo).
NCSP handles approximately 20% by volume of cargoes shipped through Russian sea
ports according to the Association of Russian Sea Ports.

During 2006, NCSP consolidated its shareholdings in the majority of other
operators and stevedores in the Port. In addition to its stevedore operations at
the Port, NCSP operates a fleet at Novorossiysk for bunkerage and towing
services, owns a large ship repair yard and operates a stevedoring company in
Baltiysk on the Baltic Sea.



Disclaimer



This press release does not constitute or form part of any offer or invitation
to sell, or any solicitation of any offer to purchase nor shall it (or any part
of it) or the fact of its distribution, form the basis of, or be relied on in
connection with, any contract therefor.  The offer and the distribution of this
press release and other information in connection with the listing and offer in
certain jurisdictions may be restricted by law and persons into whose possession
any document or other information referred to herein comes should inform
themselves about and observe any such restriction.  Any failure to comply with
these restrictions may constitute a violation of the securities laws of any such
jurisdiction.



Any purchase of or application for the securities referred to herein should only
be made on the basis of the information contained in the final prospectus to be
issued in connection with the Global Offering.  The price and value of, and
income from, such securities may go up as well as down.  Persons needing advice
should consult a professional adviser.



This press release is not being issued in the United States of America and is
not for publication or distribution in the United States. This press release
does not contain or constitute an offer to sell or a solicitation of any offer
to buy any securities of NCSP in the United States. In addition, the securities
of NCSP have not been and are not intended to be registered under the Securities
Act, and may not be offered or sold in the United States absent registration
under that Act or an available exemption from registration requirements under
that Act.



This communication is directed only at  (i) persons who are outside the United
Kingdom, (ii) investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the
'Order'') and (iii) high net worth entities, and other persons to whom it may
lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order
(all such persons together being referred to as 'relevant persons''). Any
investment activity to which this communication relates will only be available
to and will only be engaged with, relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of its contents.
Stabilization/FSA.



This document is an advertisement and is not a prospectus for the purposes of
Directive 2003/71/EC (such Directive, together with any applicable implementing
measures in the United Kingdom under such Directive, the 'Prospectus Directive
').  A prospectus prepared pursuant to the Prospectus Directive has been
published and can be obtained from the Company at its registered office.
Investors should not subscribe for any securities referred to in this document
except on the basis of information contained in the prospectus.



In any EEA Member State that has implemented the Prospectus Directive, this
communication is only addressed to and is only directed at qualified investors
in that member state within the meaning of the Prospectus Directive.



This press release is not an offer or advertisement of securities in the Russian
Federation, and is not an offer to sell to or for the benefit of any person
resident, incorporated, established or having their usual residence in the
Russian Federation, or to any person located within the territory of the Russian
Federation, or any invitation to or for the benefit of any such person to make
offers to purchase any securities in the Russian Federation. It is not intended
to be and must not be publicly distributed in or into the Russian Federation.



The depositary receipts to be issued against shares of PJSC 'NSCP' have not been
and will not be issued in Russia, and are not intended for placement and public
circulation in Russia.



Certain statements in this press release are not historical facts and are
forward-looking. Forward-looking statements include statements concerning our
plans, expectations, projections, objectives, targets, goals, strategies, future
events, future revenues or performance, capital expenditures, financing needs,
plans or intentions relating to acquisitions, our competitive strengths and
weaknesses, plans or goals relating to forecasted production, reserves,
financial position and future operations and development, our business strategy
and the trends we anticipate in the industries and the political and legal
environment in which we operate and other information that is not historical
information. By their very nature, forward-looking statements involve inherent
risks and uncertainties, both general and specific, and risks exist that the
predictions, forecasts, projections and other forward-looking statements will
not be achieved.



Such forward-looking statements speak only as of the date on which they are
made. Accordingly, we do not undertake any obligation to update or revise any of
them, whether as a result of new information, future events or otherwise. We do
not make any representation, warranty or prediction that the results anticipated
by such forward-looking statements will be achieved, and such forward-looking
statements represent, in each case, only one of many possible scenarios and
should not be viewed as the most likely or standard scenario.







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

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