Gazprom Neft Shareholders Adopted Changes to Corporate Charter

Shareholders of JSC Gazprom Neft approved changes to the Charter of the Company pertaining to the increase of the number of the Board members from nine to ten at its Extraordinary General Meeting on October 29, 2007.

In accordance with the amendments introduced clause 14.6 of the Charter of JSC Gazprom Neft reads as follows:

”The Board of Directors comprising 10 members is elected by cumulative voting at the shareholders’ general meeting. Under cumulative voting procedure the number of votes belonging to any shareholder is multiplied by the number of persons that are to be elected to the Board of Directors of the Company and such shareholder has the right to cast the resulting number of votes solely for one candidate or distribute these votes between two or more candidates.

The candidates who have received the largest number of votes are deemed to have been elected to the Board of Directors of the Company”.