2009 UTair Aviation Announces Dividend Payments

OJSC UTair Aviation informs shareholders concerning the early dispersal of dividends on registered ordinary shares for 2009 from October 1, 2010. UTair head office is located at the Khanty-Mansiysk Airport in the Tyumen region of the Russian Federation.

Form of dividend payment - cash.

Dividend per registered ordinary share – 0.11 rub.

The right to receive dividends on ordinary shares is allocated to shareholders on the register of shareholders of OJSC UTair as of May 12, 2010 (to the date, which fixes the list of persons, eligible to participate in the annual general meeting of shareholders).

Procedure for dividend dispersal to shareholders – legal entities.

Payment of dividends to shareholders - legal entities will be made by the Company by wire transfer from the bank account specified in the register of shareholders of OJSC UTair, or any statement on the payment of dividends. If the amount of accrued dividends for businesses recipients is less than 15 rubles, the payment of dividends shall be made only upon request of the recipient of dividends.

Procedure for dividend dispersal to shareholders - individuals.

Payment of dividends to shareholders - individuals (employees of the Company upon the date of closure of the register of shareholders) will be made in cash via the Company or by wire transfer to the card account opened by any employee for the receipt of wages. Payment of dividends to shareholders - individuals (excluding employees of the Company) will be dispersed by the Company's registrar - CJSC Surgutinvestneft by mail order to the address specified in the register of shareholders, provided that the amount of dividends payable shall be not less than 20 rubles and not more than the maximum allowable amount transferable by mail order. If the amount of dividends payable is less than 20 rubles, or more than the maximum allowable amount transferable by mail order, payment of dividends shall be made only at the request of the individual receiving the dividends. Should there be sufficient information regarding the full bank details of any dividends recipient from cities other than Surgut, the dividends shall be transferred to accounts in those banking institutions.

Payments of dividends to shareholders, whose shares are recorded among nominal holders.

Payment of dividends to shareholders, whose shares are recorded among nominal holders, will be made by the Company by wire transfer to the respective bank account, reported by the nominal holder.

Shareholders should bear in mind that by virtue of Article № 44 of the Federal Law “On Joint Stock Companies”, the obligation to inform the registrar to change any data in the identification document is placed upon the shareholder. It is recommended to all shareholders who have changed the data identification document (in connection with the replacement of a passport, change of name, bank account, address or registration, etc.) to update and maintain current profile data with the registrar or depository for place of registration of shares.

Payment of expenses.

Payment of postal and banking services shall be made by the recipient of the dividends. The costs to the Company for shipping of any returned mail order, not received by the recipient of dividends attributable to him, shall be reimbursed by the recipient of dividends by withholding the corresponding amount from the amount of dividends payable to the individual. No interest shall be paid on unclaimed dividends. The custody of unclaimed dividends shall be maintained for three years from the date of completion of the payment. The Company disperses dividends in accordance with current legislation of the Russian Federation and withholds all due taxes on dividends payable to individuals and transfers these monies to the budget.

CJSC Surgutinvestneft address: Russia, 628415, Surgut, Entuziastov str., 52/1, tel. +7 (3462) 42-11-72, +7 (3462) 42-11-70.