An ordinary meeting of Gazprom’s Board of Directors will take place on 26 January 2005, at 3:00 pm Moscow time. The meeting agenda will be as follows:

• Gazprom’s budget (financial plan), investment and cost reduction programs over 2005;
• Gazprom’s Management Committee Members’ involvement in Gazprom-equity companies;
• filing a list of Gazprom’s strategic development parameters to be endorsed by the Company’s Board of Directors;
• improving the corporate regulations governing Gazprom and its subsidiaries’ non-core asset divestiture;
• agreeing on the Sibur-controlled Kurganmashzavod’s stake alienation;
• increasing Gazprom’s share in Gazpromtrans’ authorized capital to a 100% stake.

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