A Board of Directors’ meeting is in progress at Gazprom’s Headquarters.

The Board heard a report by the Management Committee on the viability of calculations for the regulated wholesale gas pricing fluctuations between 2006 and 2007.

Reference:

The optimum gas pricing changes for 2006 to 2007 have been calculated on the platform of the Cost Optimization Program implementation, revision of Gazprom’s main assets in 2005 and prognosticated corporate cost growth over 2006 to be driven by inflation.

DIVISION OF RELATIONS WITH MASS MEDIA