Moscow, October 25, 2002; Sibneft will release consolidated US GAAP financial statements for the first half of 2002 on Wednesday, October 30, 2002. A press release on the results and the financial statements will be posted on the Sibneft website and distributed to subscribers of the Sibneft Newsline.

Contact:

John Mann
Sibneft
Tel: +7 095 777 3116
Fax: +7 095 777 3114
JohnM@sibneft.ru
www.sibneft.com