Sibneft Calls Shareholder Meeting

Moscow, October 11, 2002; Sibneft will hold an extraordinary shareholder meeting on November 22, 2002, in accordance with a decision taken by the company's board of directors on October 8.

Shareholders will be asked to approve the acquisition by Sibneft of Antarex, an oil trading firm operating on the domestic market. The acquisition of Antarex is part of Sibneft’s ongoing program to consolidate all trading operations into a unified corporate structure.