Operational update for July 2012

OMXAlliance Oil Companys average daily oil production for July 2012 amounted to53,732 bopd. In the first seven months of 2012, oil production totalled 11.7mbbl compared to 9.2 mbbl in the same period in 2011. Preliminary average dailyrefining volumes at the Khabarovsk refinery amounted to 83,643 bopd in July2012. In the first seven months of 2012 refining throughput totalled 16.5 mbblcompared to 15.5 mbbl in the same period in 2011.Preliminary operating results in barrels per day: Upstream Downstream 2012 Production Crude oil sales Refining Oil product sales--------------------------------------------------------------------- January 59,421 56,734 77,531 65,865 February 55,187 54,444 78,390 77,634 March 54,481 49,752 69,129 69,3771st quarter 56,363 53,643 75,017 70,959 April 52,918 52,297 70,888 72,625 May 54,422 53,689 81,946 93,600 June 53,279 54,795 82,260 82,8282nd quarter 53,540 53,545 78,404 82,912 July 53,732 57,428 83,643 84,496The average daily production at the Kolvinskoye oil field amounted to 11,573bopd with a total of 0.4 mbbl produced in July 2012.Second quarter financial results will be disclosed on August 21, 2012. Upstreamand downstream production data for August 2012 will be disclosed on September10, 2012.For further information please contact:Arsen Idrisov, Managing Director, Alliance Oil Company, Tel.: +7 495 777 18 08Eric Forss, Chairman, Alliance Oil Company, Tel.: +46 8 611 49 90Also visit www.allianceoilco.comAlliance Oil Company Ltd is a leading independent oil company with verticallyintegrated operations in Russia and Kazakhstan. Alliance Oil has proved andprobable oil reserves of 648 million barrels and downstream operations thatincludes the Khabarovsk refinery and the leading network of gas stations andwholesale oil products terminals in the Russian Far East. Alliance Oil'sdepository receipts are traded on the NASDAQ OMX Nordic under the symbol AOIL.Copyright 2012 OMX AB (publ).