Gazprom Neft does not intend to participate in Moscow oil refinery shareholder meeting on May 29, 2007

JSC Gazprom Neft and other minority shareholders of JSC Moscow oil refinery do not intend to participate in the refinery's extraordinary shareholder meeting regarding dividend payment for the first quarter 2007, which is scheduled for May 29, 2007.

The minority shareholders of JSC Moscow oil refinery and Gazprom Neft is one of them consider the decision of the meeting to be certainly void due to the fact that the meeting was initiated by the illegally chosen board of directors.

Moreover, the minority shareholders do not possess information about the reliability of 1Q 2007 financial results since Moscow oil refinery refused to provide the shareholders with the information about its financial and economic activities and refused to permit to carry out independent audit several times.