Sibneft Board of Directors Sets 2005 Dividend,

Moscow, May 23, 2006. Sibneft's Board of Directors has issued a recommendation that shareholders at the upcoming Annual General Meeting approve a 2005 dividend payout in the amount of 7.90 rubles per share. In accordance with the company's Charter (articles of incorporation), dividend payments would be carried out by a deadline of May 13, 2007.

The Board of Directors also named an Executive Board for JSC Gazprom Neft. As of May 22, 2006, Vice President (Finance) Tatyana Breeva and Vice President (Exploration & Production) Reval Mukhametzyanov join the board, which already included Gazprom Neft President Alexander Ryazanov.