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.