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Sibneft Shareholders Vote to Consolidate Trading Company

Moscow, March 4, 2003. An extraordinary meeting of Sibneft shareholders on February 28, 2003 approved a corporate restructuring in the form of the acquisition of independent trading company Yunikar LLC. Meeting participants voted 99.34% in favor of the decision.

The acquisition of Yunikar is in line with Sibneft’s ongoing program for consolidating management, financial and trading operations into a unified corporate structure.