Moscow, 8 January 2002; Extraordinary meetings of shareholders in Sibneft subsidiaries Noyabrskneftegas, Omsk Refinery and Omsknefteproduct were held today.

Shareholders in each company elected a new board of directors and approved a new charter to comply with revisions to the law on joint-stock companies which came into force on 1 January 2002.

Contact:

Nick Halliwell
Sibneft
Tel: +7 095 777 3116
nick@sibneft.ru
www.sibneft.ru