Moscow, July 27, 2005. The Sibneft board of directors, meeting on July 27, 2005, approved a resolution to hold the company’s annual general meeting of shareholders in Moscow on September 12, 2005.
The record date for shareholders eligible to participate in the Sibneft annual general meeting is July 27, 2005 as of the close of business.
The board of directors approved the following agenda items for the AGM:
1. On approval of the Sibneft 2004 annual report.
2. On approval of the Sibneft 2004 annual accounting report.
3. On distribution of profit and losses for 2004.
4. On election of members of the Sibneft Board of Directors.
5. On election of members of the Sibneft Audit Commission.
6. On selection of an auditor for 2005.
7. On approval of a revised version of the Sibneft charter (articles of incorporation).
8. On approval of changes (amendments) to the Regulation on the Board of Directors, Regulation on the Management Board and Regulation on the President.
Included in the agenda item on distribution of profit and losses for 2004 is consideration of the board of directors’ recommendation, approved on June 30, 2005, on the payment of dividends for 2004.