The Board of Directors’ meeting has adjourned at the Gazprom Headquarters.

The Board has formed the Audit Committee of the Gazprom Board of Directors. Boris Fedorov was re-elected as the Committee Chairman.

The Board of Directors has approved a reward to ZAO PricewaterhouseCoopers Audit for auditing the Gazprom annual accounting statements for 2008 and the Board’s action plan for the second half-year.

Background:

The Audit Committee focuses on assessing:

• nominations for Gazprom’s auditors;
• the Auditor’s Report;
• the efficiency of Gazprom’s internal control procedures and preparation of proposals on their improvement.

The Members of the Gazprom Board of Directors’Audit Committee have been re-elected pursuant to the Standard Guidelines for a Board of Directors’Committee. The authority of the Committee Members expires simultaneously with the expiry of the authority of the Board of Directors that has formed this Committee. In this connection, the authority of the previously elected Audit Committee Members expired on June 27, 2008.