And IV is a low-surface brightness (LSB) dwarf galaxy at the distance of 6.1 Mpc, projecting close to M 31. In this paper the results of spectroscopy of And IV the two brightest HII regions with the SAO 6-m telescope (BTA) are presented. In both of them the faint line [OIII]4363 was detected that allowed us to determine their O/H by the classical T_e method. Their values of 12+log(O/H) are equal to 7.49+-0.06 and 7.55+-0.23, respectively. The comparison of these direct O/H determinations with the two most reliable semi-empirical and empirical methods shows their good consistency. For And IV absolute blue magnitude of M_B=-12.6, our value of O/H corresponds well to the `standard relation between O/H and L_B for dwarf irregular galaxies (DIGs). And IV appears to be a new representative of the extremely metal-deficient gas-rich galaxies in the Local Volume. The very large range of M(HI) for LSB galaxies with close metallicities and luminosities indicates that the simple models of LSBG chemical evolution are too limited to predict such striking diversity.