In the course of the Board of Director’s session held today at the Gazprom’s Headquarters a resolution issued authorized the Management Committee to proceed with the Consolidated Register of the Gazprom Group of companies’ property finalization to facilitate the corporate property and other assets management. A report on the work progress should be submitted by October 2004.

Reference:

Department for asset management and corporate relations guided by the Board of Director’s resolution of 25 December 2003 started preliminary investigations on the Corporate property Register consolidation.

The consolidated Register of assets of entities entering the Gazprom Group of companies is conceived based on the state-of-the-art asset registration and control technologies. Primarily, under registration should be placed major construction objects, under construction inclusive, intellectual property, civil purpose facilities, real estate, land property inclusive, and long-term investments.

The Register set up is to provide express access to the related information needed for decision making within the Gazprom Group of companies avoiding intra corporate circulation of documents claiming for asset management information transfer. Information to be collected covers proprietary items (their location, value, encumbrances, etc.).

Nowadays, Gazprom Group of companies exploits various local asset registration systems on a sector-by- sector principle.

That-s why the Consolidated Register of assets of Gazprom Group of companies sould be engineered with addition of existing asset registration systems and specifications implied, and technological, financial, economic and legal characteristics.

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