In preparing for the annual General Shareholders’ Meeting scheduled for 25 June 2004, Gazprom’s top executives will hold from 1 to 2 June traditional meetings with the Company’s regional shareholders. Gazprom’s delegation will meet shareholders residing in the towns of Novy Urengoi and Yekaterinburg on 1 and 2 June, respectively. In addition, another meeting will be held on 8 June, in Moscow.

Annual meetings with regional shareholders are an integral part of Gazprom’s corporate policy based on the principles of information transparency and openness.

The Company’s delegation will be composed of representatives of the Asset Management and Corporate Relations Department, Information Policy Department, Gazprombank and the Horizon Investment Company. The delegation will be headed by Olga Pavlova, Gazprom’s Management Committee Member and Head of the Company’s Asset Management and Corporate Relations Department.

In the course of the meetings, Gazprom’s experts will inform shareholders of the corporate 2003 operating results and Gazprom’s development prospects and strategic priorities as well as will take their questions.

The meetings will be accompanied by press conferences for federal and regional mass media.

Over 2003, Gazprom received more than a thousand letters from its stockholders, responding to, consulting and providing everyone interested with corporate documentation. The hot telephone line (tel.: 719-26-01) is functioning round-the-clock for taking shareholders’ questions. Gazprom’s shareholders are also free to receive regular consultations at Gazprombank’s regional depositories.

Reference:

Gazprom’s largest shareholder is still the State owning 38.37% of the corporate stake. As of year-end 2003, Russian legal entities, Russian individuals and foreign investors held 36.1%, 14.03% and 11.5% of Gazprom’s stake, respectively.

As of 7 May 2004, there were some 480 thousand Gazprom’s shareholders.

The Company’s share capital totals 23,673,512,900 shares.

DIVISION OF RELATIONS WITH MASS MEDIA