The Board of Directors’ meeting is in progress at the Gazprom Headquarters.

The Board of Directors has decided to form the Audit Committee of the Gazprom Board of Directors, with Boris Fyodorov re-elected as the Committee Chairman, and Bergmann Burckhard and Mikhail Sereda elected as the Committee Members.

Reference:

The Audit Committee focuses on assessing:

• nominations for Gazprom’s auditors;
• the Auditor’s Report;
• the efficiency of Gazprom’s internal control procedures and preparation of proposals on their improvement.

The Members of the Gazprom Board of Directors’ Audit Committee have been re-elected pursuant to the Standard Guidelines for a Board of Directors’ Committee. Under the Guidelines, the authority of the Committee Members expires simultaneously with the expiry of the authority of the Board of Directors that has formed this Committee. To this end, the authority of the previously elected Audit Committee Members expired on June 30, 2006.