The Annual General Shareholders’ Meeting of Gazprom has approved the Company’s 2005 Annual Report and Accounting Statements including Profit & Loss Accounts and decided on the distribution of profit (dividends inclusive) based on the financial year results.

Based on the Gazprom 2005 operating highlights, the Shareholders’ Meeting approved RUR 1.5 per 1 share in dividends (26 per cent up on last year), which is the maximum dividend amount ever paid out by the Company.

The total sum earmarked as dividends payable based on the 2005 results accounts for RUR 35,510.3 mln, or 17.5 per cent of overall net profit. December 31, 2006 was fixed as the dividend distribution deadline. These decisions are fully in line with the Board of Directors’ recommendations.

The Shareholders’ Meeting also decided on the remuneration of the Gazprom Board of Directors and Audit Commission Members, who are not public officials, in the amount recommended by the Board of Directors.