Sibneft Shareholders Choose New President, Board of Directors

Moscow. December 23, 2005. Sibneft today held an extraordinary general meeting of shareholders, at which Gazprom deputy CEO Alexander Ryazanov was approved as Sibneft’s new president for a period of five years.

Shareholders also elected a board of directors consisting of seven representatives of Gazprom and two directors from Yukos Oil Company. The new Sibneft board members are: Gazprom CEO Alexei Miller; Gazprom Deputy CEO Andrei Kruglov; Gazprom Deputy CEO and Sibneft President Alexander Ryazanov; Gazprom Marketing and Refining Department head Kirill Seleznyov; Gazprom Legal Department head Konstantin Chuychenko; Gazprom Gas, Gas Condensate and Oil Production Department head Vasiliy Podyuk; Sibneft Legal Department deputy head Nikolay Dubik; Yury Starodubtsev, Vice President of Yukos Exploration and Production; and Yury Khudyakov, Head of Corporate Finance of Yukos Refining and Marketing.

In addition, shareholders chose PricewaterhouseCoopers to serve as Sibneft’s auditor until the company’s 2006 annual shareholders meeting.