Gazprom Neft’s Annual Report 2008 Wins XI Annual Reports Contest Held by Expert RA Agency in the Nomination “The Best Product in Nonfinancial Sector”

Годовой отчет Газпром нефти за 2008 годAccording to the Contest Committee of the XI Annual Reports Contest, Gazprom Neft’s Annual Report 2008 was recognized the best product belonging to nonfinancial sector. The contest was held by Expert RA Rating Agency following examination of 180 reports for 2008 by Russian and foreign companies. 18 companies became winners of the Annual Reports 2008 Contest.

As the contest organizers observed, last year reports featured focusing on the description of economic difficulties management. Besides, the contest committee distinguished an increasing interest expressed by the Russian companies towards electronic and interactive format of annual reports presentation. This format is well comprehensible by target audience and allows saving substantial amounts on printing costs. Interactive reports appeared relatively recently both in Russia and all over the world, although mostly all global leaders in the world economy have set up electronic interactive reports during the last decade.

“The amount of reports examined within the framework of Annual Reports 2008 Contest has naturally reduced. Some part of companies has ceased making presentational reports of proper quality, - head of Rating Service of Corporate Division of Expert RA Stepan Zhulin comments. – As expected, budgets for creating and promoting of presentational versions of annual reports were significantly cut last year. At the same time, the competitors showed their ability to improve the quality of their annual reports under severe budget limitations. The companies became more dynamic in mastering of interactive formats of data representation. We expect that Russian companies will raise expenditures on covering 2009 results up to US$ 16 mln”.