On June 30, 2008, Warsaw hosted a regular General Shareholders Meeting of the Russian-Polish joint venture EuRoPol GAZ s.a.

The Meeting approved Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Michal Szubski, President of the Management Board of Polish Oil and Gas Company (PGNiG) as Chairman and Deputy Chairman of the EuRoPol GAZ Supervisory Board, respectively.

The General Shareholders Meeting extended the tenure of the EuRoPol GAZ Management Board consisting of Michal Kwiatkowski, President, Yury Kaluzhsky, Vice-President, as well as Evgeny Vasyukov and Jerzy Tabaka, Members of the Management Board. The Meeting discussed the current status of the company’s activities and its development prospects.

Additionally, the Shareholders reached an agreement to hold the meeting of the EuRoPol GAZ Supervisory Board in Moscow on July 23, 2008.

Background:

The EuRoPol GAZ Transit Gas Pipeline System was incorporated on September 23, 1993 within the Intergovernmental Agreement on the construction of a gas pipeline system for the Russian gas transit through the Republic of Poland and the Russian gas supply to the Republic of Poland, dated August 25, 1993. The core areas of EuRoPol GAZ activities include engineering, construction and operation of the Polish section of the Yamal – Europe gas pipeline.

EuRoPol GAZ is the owner of a 684- km-long Polish section of the Yamal – Europe gas pipeline and five compressor stations, providing for the gas pipeline capacity of some 30 bcmpa.

Gazprom and PGNiG are the major shareholders of EuRoPol GAZ.

The representatives of Gazprom in the EuRoPol GAZ Supervisory Board are listed below:

A.I. Medvedev – Deputy Chairman of the Gazprom Management Committee;

N.N. Dubik – Member of the Gazprom Management Committee, Head of the Legal Department;

S.E. Tsygankov – Head of the Gazprom International Business Department;

S.A. Emelyanov – First Deputy Director General, Gazprom Export.

As of June 30, 2008, the Yamal – Europe gas pipeline exported 200 bcm of natural gas, including 165 bcm to the consumers in Western European countries and 35 bcm – in Poland.

In 2007 circa 7 bcm of Russian gas was supplied to Poland.