Gazprom’s Board of Directors meeting was held today at Gazprom headquarters.

The Board approved the remuneration to the auditing company for performing audit of Gazprom’s 2005 financial statements.

The decision to form Gazprom’s Board of Directors’ Audit Committee comprising three members was made at the meeting. Boris Fedorov, Member, Gazprom’s Board of Directors, was re-elected Chairman of the Committee.

The decision to form Gazprom’s Board of Directors’ Asset Evaluation Committee comprising seven members was made at the meeting. German Gref, Member, Gazprom’s Board of Directors, the Russian Federation Minister for Economic Development and Trade, was re-elected Chairman of the Committee.

Consideration of Gazprom’s pricing policy in connection with the intra-corporate account settlement and its impact on the budget execution by the Russian Federation constituent entities was postponed until one of the upcoming Board meetings.

The Board approved the business plan for the 2nd half of 2005, and a number of other matters that fall under its authority.

DIVISION OF RELATIONS WITH MASS MEDIA