Summary from Alliance Oil's Special General Meeting and application to delist the SDRs

Alliance Oil Company Ltd's shareholders gathered in Stockholm yesterday for a
Special General Meeting.

The Special General Meeting resolved to approve Alliance Group's acquisition of
Alliance Oil Company by way of amalgamation. Shareholders representing 87% of
the votes cast voted in favour of the amalgamation.

Pursuant to resolution by the Special General Meeting, Alliance Oil has applied
to delist its SDRs from NASDAQ OMX Stockholm. The last day of trading and time
for payment of the amalgamation consideration will be announced this week.

For further information please contact:

Arsen Idrisov, Managing Director, Alliance Oil Company, Tel.: +7 495 777 18 08

Eric Forss, Chairman, Alliance Oil Company, Tel.: +46 8 611 49 90

Also visit www.allianceoilco.com

Alliance Oil Company Ltd is a leading independent oil and gas company with
vertically integrated operations in Russia and Kazakhstan. Alliance Oil has
substantial oil and gas reserves and downstream operations that include the
Khabarovsk refinery and the leading network of gas stations and wholesale oil
products terminals in the Russian Far East. Alliance Oil's depository receipts
are traded on the NASDAQ OMX Nordic under the symbol AOIL.

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