Yandex Purchases Map License from NAVTEQ

MOSCOW, January 30, 2012. Yandex (NASDAQ: YNDX), the leading internet company in Russia operating the country’s most popular search engine and most visited website, has purchased a license for digital maps supplied by the leading global location content provider, NAVTEQ. These digital maps will be used in the development of a detailed world map for the Yandex.Maps service.

NAVTEQ has provided Yandex with maps from all over the world, including highly detailed maps of Europe, North America, Australia and developed countries in Asia. These maps show intercity motorways, urban traffic networks, streets and buildings. Yandex.Maps will gradually add new content both to its desktop version and to its mobile application that supports all major platforms. Using the Yandex.Maps API, website owners can embed maps of various countries into their resources.

Yandex previously purchased map content from NAVTEQ. The NAVTEQ-provided detailed map of Turkey at yandex.com.tr, featuring location search and other Yandex services, has been extremely popular with users following its debut last year.

“Our users have already appreciated high-quality detailed maps of Russia and Ukraine with the search function and other useful features such as routing, traffic information, satellite images and panoramic views. We continue to enhance our map services for Belarus and Kazakhstan. NAVTEQ’s content will help us make Yandex.Maps a comprehensive, all-purpose mapping service that can answer users’ questions about countries throughout the world,” said Maria Orlova, head of Yandex.Maps Production and Quality Control Service.

In addition to NAVTEQ, Yandex partners with other digital map content providers to license location information for Russia, Ukraine, Belarus and Kazakhstan. To enhance and continually update the map of Russia, Yandex acquired map provider GIS Technologies in July 2010 and began making city maps for numerous locations across the country. Currently, Yandex offers maps for 270 cities in Russia, Ukraine, Kazakhstan and Belarus.

About Yandex

Yandex (NASDAQ: YNDX) is the leading internet company in Russia, operating the country’s most popular search engine and most visited website. Yandex also operates in Ukraine, Kazakhstan, Belarus and Turkey. Yandex’s mission is to answer any question internet users may have.

About NAVTEQ

NAVTEQ is the leading global provider of location content in the form of maps, traffic and places data that enables navigation, location-based services and mobile advertising around the world. NAVTEQ supplies precise, comprehensive location content to power automotive navigation systems, portable and wireless devices, Internet-based mapping applications and government and business solutions. The Chicago-based company was founded in 1985 and has approximately 5,800 employees located in 200 offices in 54 countries.

For more information on NAVTEQ, please visit http://corporate.navteq.com. This NAVTEQ press release and other news is available at http://press.navteq.com. Join NAVTEQ on Facebook at facebook.com/NAVTEQCompany and Twitter at @NAVTEQ.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. These include statements regarding the development and success of the Yandex.Maps application and service. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others, user preferences regarding applications and services, competitive pressures, changes in advertising patterns, changes in the legal and regulatory environment, technological developments, unforeseen changes in our hiring patterns, and our need to expend capital to accommodate the growth of the business, as well as those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Prospectus dated May 24, 2011, which is on file with the Securities and Exchange Commission and is available on our investor relations website athttp://company.yandex.com/investor_relations/sec_filing.xmland on the SEC website atwww.sec.gov. All information provided in this release is as of the date hereof, and Yandex undertakes no duty to update this information unless required by law.

Contact:
Media Relations
Vladimir Isaev, Ochir Mandzhikov
Phone: +7 495 739-7000
E-mail: pr@yandex-team.com