Press releases in February 2010

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TNK-BP Issues U.S.$1 Billion of Eurobonds Due 2015 and 2020

February 03, 2010, Wednesday

Not for release, publication or distribution in Australia, Canada, France, the Hong Kong Special Administrative Region of the People’s Republic of China, Japan, South Africa, Spain or the United States of America.

On 2 February 2010, TNK-BP completed an issuance of Eurobonds in the aggregate amount of U.S.$1 billion.

The 5-year U.S.$500 million tranche was priced with a coupon of 6.250% and the 10-year U.S.$500 million tranche was priced with a coupon of 7.250%.

The issuer of the Eurobonds is TNK-BP Finance S.A. (Luxembourg), a wholly owned subsidiary of TNK-BP International Ltd., which is the guarantor of the Eurobonds.

For further information contact:

TNK-BP International Media: Marina Dracheva — telephone + 7 495 363 6580
TNK-BP Russian Media: Nikolai Gorelov — telephone + 7 495 363 2757.

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement does not constitute an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration as provided in the Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States of America or to conduct a public offering of securities in the United States of America.

The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption of registration or qualification under the securities laws of any such jurisdiction.

This announcement does not constitute an offer of securities to the public in the United Kingdom. This announcement is being distributed only to, and is directed at (a) persons outside the United Kingdom, (b) persons who have professional experience in matters relating to investments who fall within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or © high net worth entities, and other persons to whom it may otherwise 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 or investment activity to which this communication relates is available only to or will be engaged in only with, relevant persons. Any person who is not a relevant person must not act or rely on this announcement or any of its contents.

Except as described above, any invitation or inducement to engage in investment activity (within the meaning of section 21 of FSMA) in connection with, or relating to, the sale or purchase of any securities, may only be communicated or caused to be communicated in circumstances in which section 21(1) of the FSMA does not apply. It is the responsibility of all persons under whose control or into whose possession this document comes to inform themselves about and to ensure observance of all applicable provisions of FSMA in respect of anything done in relation to the securities in, from or otherwise involving, the United Kingdom.

This announcement is not a public offer or advertisement of securities in the Russian Federation, and is not an offer, or an invitation to make offers, to purchase any securities in the Russian Federation.

Russian securities laws permit the placement and public offering of the securities in Russia only upon fulfillment of certain admittance procedures (including, inter alia, the registration of the Russian securities prospectus (prospect tsennih bumag) in respect of the securities provided for under Russian law, some of which are yet to be developed by the Federal Service for Financial Markets of the Russian Federation.  Neither the issue of the securities, nor a Russian securities prospectus (prospect tsennih bumag) in respect of the securities has been, or is intended to be, registered with the Federal Service for Financial Markets of the Russian Federation.  The information contained herein is not an offer, advertisement, or invitation to make offers, to sell, exchange or otherwise transfer or dispose of the [Notes] (as part of their initial distribution or at any time thereafter) in the Russian Federation or to, or for the benefit of, any persons (including legal entities) resident, incorporated, established or having their usual residence in the Russian Federation, or to any person located within the territory of the Russian Federation.

Forward—looking statements. Some of the information in this announcement may contain projections or other forward—looking statements regarding future events or the future financial performance of TNK-BP Finance S.A or TNK-BP International Limited.  We caution you that these statements are not guarantees of future performance and future performance involves risks, uncertainties, and assumptions that we cannot predict with certainty.  Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecasted in the forward—looking statements.  We do not intend to update these statements to make them conform with actual results.

© 2010 TNK-BP
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