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TNK International appoints Sir Peter Walters and Sir William Purves to its newly-created Advisory Board

Moscow and London - TNK International, one of Russia's largest vertically-integrated oil and gas companies, today announced the appointment of Sir Peter Walters as Chairman of its newly created Advisory Board and Sir William Purves as an Advisory Board member.

The role of the Board will be to review company performance and make recommendations to the shareholders on matters concerning corporate governance, strategic planning, investment and financial activities, joint ventures, and health, environment and safety.

Sir Peter Walters was Chairman of British Petroleum Company plc from 1981 to 1990 and Chairman of SmithKline Beecham plc from 1994 to 2000. He was Deputy Chairman of GlaxoSmith Kline plc until May 2002. Sir William Purves was Chairman of HSBC Holdings plc from 1990 to 1998 and served as a director of the Shell Transport and Trading Company plc from 1993 until May 2002.

Sir Peter Walters: "I look forward to working with TNK because of the hugely exciting prospects for and challenges facing both the company and the Russian oil industry. Good corporate governance has become a global capital markets issue, and strengthening the TNK board structure adds momentum to the Company's development."

Simon Kukes, President of TNK International: "We warmly welcome the appointment of Sir Peter and Sir William to our new Advisory Board. Their experience of working at the highest level of international business life will be especially valuable to us, given our commitment to achieving standards of corporate governance and financial integrity that are fully in keeping with global best practice."


Sir Peter Walters

  • Apart from positions at BP and Glaxo Smith Kline, described above, Sir Peter Walters was Chairman of Midland Bank plc from 1991 to 1994, Deputy Chairman of EMI plc from 1990 to 1999 and Deputy Chairman of HSBC Holdings plc from 1992 to 2001. He was a director of the Post Office and of the National Westminster Bank
  • Sir Peter is also a former President of the General Council of British Shipping, the Society of Chemical Industry and the Institute of Manpower Studies. He was a Chairman of the Governing Body of the London Business School and President of the Institute of Directors, of which he is now Chancellor.
  • He is currently the President of the Police Foundation, President of the Institute of Business Ethics and a Trustee of the Institute of Economic Affairs.
  • Sir Peter was awarded the Society of Chemical Industry's Centenal Medal, an Honorary Fellowship Certificate from the Royal Society of Chemistry, an Honorary Fellowship from the Institution of Chemical Engineers, and the Cadman Medal from the Institute of Petroleum.
  • Sir Peter has received an Honorary Doctorate of Social Science from Birmingham University, the Honorary Degree of Doctor of Stirling University, and an Honorary Fellowship from the London Business School.
  • Born in Birmingham in 1931, Sir Peter was educated at King Edward's School and Birmingham University where he graduated B Comm in 1952. He was knighted in the 1984 New Year Honours List.

Sir William Purves

  • Sir William is Chairman of Hakluyt & Company Ltd, Deputy Chairman of Alstom s.a., Director of Interpacific Holdings Ltd, Scottish Medecine plc, Trident Safeguards Ltd and World Shipping and Investment Co Ltd.
  • Sir William is a member of Hong Kong's Chief Executive's International Advisory Council, having been a member of the Executive Council between 1987 and 1993, and is a member of Textron Inc International Advisory Council.
  • He is a Fellow of the Chartered Institute of Bankers, Scotland, and the Chartered Institute of Bankers. He is an Honorary Steward of the Royal Hong Kong Jockey Club.
  • Born in Scotland in 1931, Sir William was educated at Kelso High School. He was commissioned into the King's Own Scottish Borderers and awarded the DSO for military service in Korea.
  • Sir William was knighted in the 1993 New Years Honours List, having been made a CBE in 1988.

TNK International

  • TNK has developed by organic growth and acquisition into one of the largest vertically integrated Russian oil and gas companies, with proved reserves in excess of 7 billion barrels of crude oil and production of over 730,000 barrels per day.
  • TNK owns three major refineries, two of which are located in Russia, with the third located in Ukraine. TNK operates a network of more than 1,800 branded retail filling stations in Russia and Ukraine, including more than 130 in the Moscow region.
  • TNK International has the highest credit rating of any Russian corporate: "Ba3" by Moody's Investors' Services, "B+" by Standard & Poor's Rating Service, and "B+" by Fitch Ratings. All ratings are with a stable outlook.
  • TNK is committed to developing western levels of accounting, reserve auditing and corporate governance standards. PwC has produced 5 years of US GAAP accounts. Miller & Lents has completed reserve reports.
  • In 2000, TNK was the first Russian company to win the prestigious Financial Times Energy Award, and was named the World's best Oil and Gas Company for 2000.
  • TNK is a private company that is effectively 50/50 owned by Alfa Bank, Russia's fourth-largest, and Access Industries/Renova, a US-based private investor group.

SOURCE TNK International

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