Gazprom Neft Successfully Placed Bond Issue Series 03

On July 21, 2009 JSC Gazrpom Neft successfully placed a bond issue series 03 with the total par value of RUR 8 bln. The Company raised funding for a total period of three years having thereby defined new landmarks in borrowings maturity under prevailing conditions of the debt market.

The placement was performed in a book-building format. 74 bids to the total amount exceeding RUR 32 bln. were tendered by the investors. The demand was quadruple to the issue volume, which resulted in the bid book closing one day ahead of time. The analysis of bids indicated that the coupon value was secured at 14.75 per cent per annum, which is 0.25 per cent off the lowest marketing price range level (15.00% – 15.75%).

The funds from the bonds placement will be steered into corporative purposes.

The issue was managed by Gazprombank and Renaissance Capital – Financial Consultant.