The Board of Directors’ meeting has adjourned at Gazprom’s Headquarters.

The Board resolved to hold the Gazprom Annual General Shareholders’ Meeting on June 30, 2006, starting from 10am Moscow time, at Gazprom’s Headquarters and initiate registration of participants on June 28, from 10am and on June 30, from 9am.

The Board also resolved to provisionally endorse and submit for the Shareholders’ Meeting approval the Gazprom 2005 Annual Report and the Gazprom (parent company) 2005 financial accounts prepared in accordance with Russian legislation.

The Board recommended the Shareholders’ Meeting to approve the allocation of Gazprom’s profit based on the 2005 operating results.

The Board recommended the Shareholders’ Meeting to approve proposals to pay out RUR 1.5 per share in annual dividend (a more than 26% increase versus the previous year) based on the Gazprom 2005 operating results and set December 31, 2006 as the dividend payment deadline.

The Board endorsed proposals on the remuneration of the Board of Directors and Audit Commission.

The Board formed the Shareholders’ Meeting Presidium made up of the Board Members and approved Dmitry Medvedev as the Shareholders’ Meeting Chairman.

The Board reviewed the results of the open tender for the selection of an auditing company responsible for performing statutory annual audit of Gazprom and nominated the tender winner - PricewaterhouseCoopers Audit as Gazprom’s auditor, subject to approval by the Shareholders’ Meeting.

The Board submitted for the Shareholders’ Meeting approval draft amendments in the Gazprom Articles of Association, as prescribed by the modified Federal Law on Joint-Stock Companies from July 1, 2006.

The Board also adopted decisions on other matters relative to the Gazprom General Shareholders’ Meeting preparation and holding.