Press centre

On December, 16 new restaurant of prompt service A la minute opened on OKKO filling complex in Gorodok of L'viv region. It is 15th restaurant under A la minute brand in Ukraine – 14 restaurants are functioning in OKKO network, 1 more operates in office center in L'viv on Heroyiv UPA street, 72. All in all 6 restaurants A la minute were put into operation in 2008.

EBITDA (operating profit plus amortization and depreciation) increased by 3.2 times to UAH 339.5 mln (compared to UAH 106.7 mln for 9 m. 2007).  Net income of the Company increased by more than 7 times for 9 m. 2008 and reached UAH 173.1 mln (UAH 24.1 mln for 9 m. 2007).

Concern Galnaftogaz and OKKO network supported edition of the reference book New fines for traffic violation. For car owners' comfort the articles of Code of Ukraine on administrative offences are selected in the reference book with pointing of composition of violations, probable penalties on them and actions oftraffic policeman in such cases.

Yesterday the solemn session of city council took place in L'viv on the occasion of Local government day. Among others L'viv mayor Andriy Sadovyi, chief executive of L'viv regional administration Mykola Kmit', chief executive of L'viv regional board Myroslav Senyk, L'viv mayor in 1990-1994 Vasyl' Shpitser, chief of L'viv regional department of Ministry of Internal Affairs lieutenant-general Vasyl' Pisnyi, chief of Security Service of Ukraine in L'viv region Anatoliy Matios took part in the festivities.

On December, 3 presentation of projects of participants of the complex program Top-talent took place in L'viv Business School of Ukrainian Catholic University (LvBS). Presentation of group projects completed the studies of Concern Galnaftogaz management reserve by the complex program, which began on February, 20, 2008 and consisted of 6 educational modules.

Concern Galnaftogaz purchased two houses in Rivne region for families of Victor Troyanchuk and Fedir Tarasyuk within the project Warm a child with love. The project Warm a child with love is directed on solving most sharp problems of large families; above all, on housing of those families, which have 10 and more children.

On November, 18 the meeting of business community took place in L'viv Business School of Ukrainian Catholic University (LvBS); the topic of it was Financial crisis. Problem value. The meeting took place in the Open House format.

In accordance with the all-Ukrainian ranking magazine Gvardiya, Concern Galnaftogaz took 53rd place in the rating list of Ukraine's Most Expensive Companies and Corporations. The main ratio taken into account by experts is the value of company's business in 2008.

Fifty nine companies, which carry on their business in Ukraine, took part in research conducted by HR Center jointly with the consultants of Hewitt Associates. Among participants were 15 international companies, 23 large Ukrainian companies, and 21 small and middle Ukrainian companies. Concern Galnaftogaz took 8th place in the general rating of large Ukrainian companies.

On October, 29-30 in Moscow took place 14th annual UBS conference, a topic of which was the following – Russia and CIS: to prosperity through partnership.

Over 700 representatives of international institutional investment companies and funds, representatives of governments of Ukraine, Kazakhstan and Russian Federation, took part in the conference.

On October, 15th Concern Galnaftogaz investment director Andriy Khudo, invited by Kazakhstan Independent Directors Association (KIDA), made a report at the second Club meeting. The meeting was dedicated to the consideration of practical aspects of corporate governance reformation towards rise of companies' investment attractiveness.

On October, 7th L'viv became next city where Days of Lithuania in Ukraine 2008 took place. In February 2008, on the eve of Lithuanian Independent Restoration Day great cultural performance Days of Lithuania in Ukraine 2008 started in Kyiv. The main aim of this performance was to get Ukrainians know Lithuanian art, culture, history and economy.

Exhibition Portraits of personalities of the epoch of Grand Duchy of Lithuania which takes place in the L'viv Art Gallery since October, 7 th, is dedicated to week of Lithuanian culture in L'viv. Showpieces represented at the exhibition originate from Oles'ko Castle – the branch of L'viv Art Gallery, and L'viv History Museum.

Once again Concern Galnaftogaz was included in TOP-100 of Best Ukrainian Companies independent ranking, which is composed by Investgazeta. Concern became one of the leaders by the level of corporate management and got 9,5 points and ranking mark Q.

Sixth early music festival Since time of Rzeczpospolita will take place in L'viv in October, 3-12. Exponents from Ukraine, Poland, Lithuania, Belarus, Germany, and Switzerland will participate in it. Festival programme consists of musical compositions of XV-XVIIІ centuries, which were composed or played in Rzeczpospolita (Polish-Lithuanian Commonwealth) of that epoch.

All-Ukrainian ranking program Gvardiya has published the latest list of biggest companies of Ukraine «Ukraine's Richest Companies Ranking». According to results of 2007 Concern Galnaftogaz took 44th place among 500 Ukrainian companies.

In the Deloitte Central Europe Top 500 ranking Concern Galnaftogaz took 431st place. Deloitte, one of the biggest companies providing audit, consulting, and financial advisory services, evaluated financial results of Central Europe Top 500 companies by revenue, profits, capitalization and employment.

6th training programme unit for Concern Galnaftogaz managers is going on. The part of the programme unit on applied marketing issues was delivered by leading Russian consultant Grigorij Trusov. Participants were interested in taking over an international experience, fundamental marketing practices and were mastering marketing tools.

New laboratory has a wider range of devices comparing with the first one. Now express analysis of petrol and diesel quality will be done with 4 measurement devices of Austrian producer Grabner Instrument and Japanese firm Tanaka. 

On September, 16 the ОККО network has attained important mark in development. After three new filling complexes were opened, their total amount grew to 250! Tuesday, September, 16, became a birthday for the filling complex in Machukhy of the Poltava region. It is located on Frunze str., 10 a. Rest room is functioning on filling complex, and fuel cards are accepted. Convinience store will be opened soon.

The building of small wooden church, which will appear to the end of 2008, started the great project of construction of campus of the Ukrainian Catholic University. Concern Galnaftogaz supported project financially.

According to IFRS, consolidated revenue of OJSC “Concern Galnaftogaz" for the1st H 2008 increased by 92% and amounted to UAH 2 529,7 mio (compared with UAH 1 317,5 mio for the 1st H 2007). Operating EBITDA (operating profit plus amortization and depreciation) increased by 3.1 times to UAH 230.3 mio (compared to UAH 73.9 mio for the 1st H 2007).

According to the provisions of the investment memorandum, on August 28 Concern Galnaftogaz paid to its investors 897 600 UAH of yield on series “F” bonds for the twelfth coupon period. Interest rate for 9-12 percent periods of series “F” bonds was set at the level of 11% per annum.

According to UAS, consolidated revenue of OJSC “Concern Galnaftogaz" for the 1st H 2008 increased by 73% and amounted to UAH 3 077.3 mln (compared with UAH 1 776.2 mln for the 1st H 2007). Operating EBITDA (operating profit plus amortization and depreciation) increased by 2.6 times to UAH 181.5 mln (compared to UAH 69.9 mln for the 1st H 2007).

According to the signed agreement, starting from 1 August 2008 Concern Galnaftogaz receives subscription services from Kyivstar Company.

In June-July 2008, 13 new filling stations OKKO, 2 river fuel stations OKKO, 10 diluted gas filling stations, and 2 French cuisine restaurants «A la minute» were put into operation.

Kyiv Publishing House Hrani-T published an art album, dedicated to the heritage of Vladyslav Horodetskyy, Kyiv architectural genius of the beginning of XX century. This is the first publication about the great architect, which not only highlights, but also analyzes the artistic methods of Horodetskyy.

On July 3, the UN Office in Ukraine announced the official launch of the national informational and educational campaign “Go Green!”. Today, the President of Concern Galnaftogaz Vitaliy Antonov affixed his signature to the Go Green! Declaration. Go Green! Campaign was initiated by UN Office in Ukraine together with the Ministry of Environmental Protection of Ukraine, and was presented in the frameworks of the UN Global Compact Network.

On July 2 in Kyiv on Zhukiv Island (the territory of the recreational-sanitary center “Green Port”) the first river fuel station “Pulse-1” was put in operation. The station will serve small-format ships: yachts, motor boats, quad bikes, scooters, and other fuel-efficient water crafts. This is the fist fuel station of the leading project of the OKKO net, the next one – “Pulse-2”, will be soon put in operation in New Kakhovka, on the territory of yacht-club “Maxim-marine”.

The “Concern Galnaftogaz” entered TOP-10 companies with a high level of corporate governance, it has the highest Q rating (Quality Standard) and the biggest number of points (9.5) in the Ukrainian Corporate Governance rating formed by the investment bank Concorde Capital in June 2008.

The “Concern Galnaftogaz” supported the event of the charitable ball for establishment of the Educational scholarship named after Andrei Sheptytskyi for the best students of the Ukrainian Catholic University. The charitable folk ball “Perelaz’” took place on May 31 in the premises of a new building of the university on 35 Khutorivka St.

ING Bank Ukraine has published review of Concern Galnaftogaz’ financials using statements for the year 2007, compiled under Ukrainian Accounting Standards (UAS).

Today one more «OKKO» highway complex started functioning in Odessa at the 20th kilometer of the Odessa-Reni bypass road. This big fuel station is equipped with 12 petrol filling pumps,
2 of which are high-speed ones, and intended for filling up trucks.

On April 24 a new «OKKO» highway complex was opened in Kamyanets-Podilskyy, Khmelnitskyy region. The fuel station is situated on Hrushevskyy St. (city entry from the side of Khmelnitskyy). The complex is equipped with 4 two-front petrol filling pumps and with 2 high-speed pumps for convenient filling up of trucks.

General Meeting of Shareholders of OJSC “Concern Galnaftogaz" dated 21 April 2008, minutes №02/08, approved report on financial and operational activities of the Company for the year 2007, report of the Supervisory Board of the Company for the year 2007, report of the Audit Committee, annual report and balance sheet of the Company for the year 2007.

According to UAS total revenue of OJSC “Concern Galnaftogaz" for the year ended 31 December 2007 amounted to UAH 4 126,3 mln (compared to UAH 3 798,5 mln for the year ended 31 December 2006). EBITDA in 2007 increased by 28% to UAH 172,2 mln (compared to UAH 134,0 mln in 2006). Net income of the company for the year ended 31 December 2007 amounted to UAH 28,1 mln (compared to -  UAH 35,2 mln in 2006).

“Concern Galnaftogaz” took the highest level “A+” in the rating “GUard of social responsibility” (Publishing house Galytski Kontrakty, March 2008). According to the rating compilers “Concern Galnaftogaz” is one of the first companies in Ukraine entering stock market and showing example of transparency and publicity.

“Concern Galnaftogaz” decided to participate in the second stage of the Pilot project of information disclosure by the securities issuers implemented by Ukrainian Securities and Stock Market State Commission supported by USAID (United States Agency for International Development) “Capital Markets Development”.

On March, 14, first Company filling station in Poltava region launched its work in the village of Suprunivka (333 km of the highway Kyiv-Kharkiv). In the nearest time this filling station would be reconstructed and standardised according to “OKKO" norms. Thus Galnaftogaz extended its network in Ukraine to 19 regions

 "Infusion of capital in the amount of $ 48 million through additional issue of shares, which ended in February this year, afforded Concern to involve $ 200 million from the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC), and solve the problem of financing, which hampered the growth of the company in the past year, "- notes Concorde's analyst Vladimir Nesterenko.

A new OKKO motorwayway complex was opened on February 21 in Furmanka near Uman, on the motorway Kyiv – Odesa. Besides a big shop it has a hand carwash, a liquid gas unit, a high-speed station for filling lorries, a vacuum cleaner, a compressor for tyre pumping and watering.

February 12, 2008 - The International Organization for Migration (IOM) Mission in Ukraine, a UN country team agency, and “Galnaftogas,” one of the leading oil companies in Ukraine, will sign a Memorandum of Intent on Cooperation in the Field of Combating Human Trafficking. The event will take place at 11:30 in UNIAN,
4, Khreschatyk St., Kyiv.

From February 3, 2008 Lviv Business School at the Ukrainian Catholic University opens to combine the best management curricula developed according to the leading world standards and unique business development products based on common human values and containing cultural and spiritual component.

On the 4-th of February the extraordinary general meeting of shareholders of the OJSC “Concern Galnaftogaz” occurred, where the results of closed (private) offering of shares had been approved and amendments to the chapter regarding the increase of share capital had been made. As a result of additional share issuance, share capital of the OJSC “Concern Galnaftogaz” has been increased by 15 238 417 hryvnyas and 25 kopecks and will be equal to 175 238 417. 25 UAH

A new large highway OKKO filling station opened yesterday in Kalynivka near Kyiv, in Kyiv-Lviv-Chop highway. A new filling station opened in front of the existing highway OKKO filling station on the motorway in the direction of Lviv.

On January 17, Credit-Rating Agency raised the long-term credit rating of Concern Galnaftogaz from level uaA to uаА+ The Agency also raised the rating of Concern Galnaftogaz company bonds of second issue (D, E, and F series) from level uaA to level uаА+. The rating forecast has also changed to “stable”.

For the last month 9 new filling stations opened within OKKO network, among which – another highway complex in Oleksandriya (Kirovohrad Region). Today OKKO network lists 214 modern complexes.