A working meeting between Alexey Miller, Gazprom’s Management Committee Chairman, and Herbert Walter, Chairman of Dresdner Bank AG’s Board of Managing Directors, was held today at Gazprom’s Headquarters.

The parties pointed out that Gazprom and Dresdner Bank had been successfully cooperating for 10 years already. Since 1994 the companies have been actively implementing projects on debt financing and funds attraction on the international capital markets. Dresdner Bank participated in elaborating the Program on Gazprom’s project financing and acted as advisor to the Company on divesting it’s non-core assets.

A. Miller and H. Walter also raised the issue of further cooperation. In particular, the parties came to an accord that Dresdner Bank would serve as one of the financial advisors in drafting the North-European gas pipeline construction.

Reference:

Dresdner Bank is one of the largest German and world-leading banking institutions. The bank acted as lead manager or co-arranger for the majority of large loans borrowed by Gazprom. In October 1996, Dresdner Bank’s investment subsidiary, Dresdner Kleinwort Wasserstein jointly with the Morgan Stanley company were global coordinators and financial advisors in placing Gazprom’s ADSs worth 272 million of the Company’s ordinary shares. In addition, Dresdner Bank together with Deutsche Bank served as lead arranger for a DEM 1,675 billion loan intended to resource equipment supplies for the Yamal-Europe gas pipeline. In February 2003, Dresdner Kleinwort Wasserstein acted as co-arranger for a successful placement of Gazprom’s 144A USD 1.75 billion Eurobonds. In January 2004, that placement was awarded by the International Financial Review business journal (Great Britain) and by other leading international publications, as well.

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