The annual General Shareholders Meeting of Gazprom has approved the Company’s 2008 Annual Report and Accounting Statements including Profit & Loss Accounts and decided on the distribution of profit (annual dividends inclusive) based on the financial year results.

Based on the Gazprom 2008 operating results, the Shareholders Meeting approved the dividend amount – RUB 0.36 per share (5 per cent of the net profit). December 31, 2009 was set as the dividend distribution deadline. These decisions are fully in line with the Board of Directors’ recommendations.

The Shareholders Meeting also decided on the remuneration of the Gazprom Board of Directors and Audit Commission Members, who are neither holding public office in the Russian Federation, nor doing state civil service, in  the amount recommended by the Board of  Directors.

Background

On May 18, 2009, pursuant to the Russian Government’s directive, Gazprom’s  Board of Directors recommended that the Shareholders Meeting approve the proposal to pay out annual dividends in the amount of RUB 0.36 per share (5 per cent of the net profit) based on the Company’s 2008 operating results.