Integra brochure
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May 23, 2008

New CFO in Integra Group


Moscow, May 23, 2008

Integra Group (LSE:INTE), a leading Russian independent provider of onshore oilfield services is pleased to announce that Dmitry Avdeev, has accepted an offer to become Chief Financial Officer of Integra Group. The appointment will take effect in the second half of June following the departure of former CFO Alex Polevoy who is leaving to pursue other business interests.

Dmitry Avdeev is joining Integra from Morgan Stanley where he served as an Executive Director in the Russian and the CIS oil and gas group.

Commenting on the announcement, Felix Lubashevsky, Integra’s President and CEO, said:
“I am very pleased to welcome Dmitry Avdeev to the Integra team. He has a first class financial and professional reputation and I feel he is the right man to help lead the Group in its next phase of growth and delivery. Dmitry’s task going forward, will be focused on debt portfolio optimization, development of capital management processes and a close cooperation with the Company’s shareholders and potential investors.”

“We are very grateful to Alex Polevoy for his significant contribution to building the financial structure of Integra Group and the development of the Company. In February last year Integra was one of the first Russian oil services companies to seek a public listing, and our success in part was very much due to Alex Polevoy’s hard work. Alex will be aiding us in the transition of CFO responsibilities in this vital area of our business so as to cause as little disruption as possible. “

Note to editors

Biography of Dmitry Avdeev

Since mid 2006, Dmitry Avdeev has been the Executive Director in the Russian and CIS Oil and Gas group at Morgan Stanley. He was responsible for a number of sizable M&A transactions as well as debt and equity capital raising deals. From 1998 to 2006, Mr. Avdeev held a number of different positions with UFG and Deutsche UFG in the Corporate Finance Department and Equity Research Department, with a focus on the oil and gas sector. From 1995 to 1998 he worked for Sidanco oil company covering project finance and investment planning.

In 1995 Dmitry Avdeev graduated from Moscow State University, with a degree in Applied Mathematics.

Integra Group

Integra Group is a leading Russian independent provider of onshore oilfield services and is also a leading manufacturer in the Russian Federation of drilling rigs with heavy lifting capacity, cementing equipment and certain specialized equipment used in the exploration, development and production of oil and gas.

Integra Group operates in the drilling, workover, seismic and geophysics sectors and manufactures oilfield services equipment.  Integra has oilfield services operations in all major oil and gas producing regions in Russia and in many other CIS countries. The company’s customer base includes major Russian and international oil and gas companies operating in Russia and CIS.

Established in March 2004, Integra Group has, through 16 strategic acquisitions, become one of the leading companies in the oilfield services and equipment manufacturing sectors of the Russian market and employs approximately 20 000 people.

Since February 27, 2007 Integra Group has been traded on the London Stock Exchange (symbol: INTE).

Forward looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

Contacts
Integra Group 

Andrei Machanskis Head of Investor Relations Tel. +7 495 933 0621

amachanskis@integra.ru

Alla Sapun Press Secretary

Tel. +7 495 933 0621

asapun@integra.ru
Financial Dynamics 

Jonathon Brill/Edward Westropp

London

Tel. +44 20 7269 7170

Edward.Westropp@fd.com

Galina Lyssenko

Moscow

Tel. +7 495 795 0623