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GAZPROM

December 24, 2003

Personnel appointments

Gazpromís Management Committee Chairman, Alexey Miller, appointed Oleg Buchnev NIIgazeconomicaís Director General. Oleg Bunchev was also appointed Deputy Head of Gazpromís Economic Expertise Analysis and Pricing Department.

Born in 1967 in Moscow, Oleg Bunchev graduated from the Moscow Power Engineering Institute (1992). O.Bunchev also received additional education (attended special managerial courses and did a JSC management internship in Germany), obtained the Professional Accountant Certificate and holds a PhD degree (economy).

In 2001-2003 Mr Bunchev was the Head of NIIgazeconomicaís Research Derpartment for Pricing and Operational Costs Analysis. Since 2003, heís been Head of Gazpromís Pricing Department.

Being NIIgazeconomicaís Director General, Mr. Bunchev is in charge of establishing a comprehensive corporate pricing system, analysis of Gazpromís subsiduariesí current expenses and elaborating NIIgazeconomicaís Cost Management Program.

More efficient use of the potential of NIIgazeconomica, the gas industryís leading company, will enable Gazprom to make rational decisions on the gas industry development.

Reference:

NIIgazeconomica (Science and Research Institute of Economics and Management for the Gas Industry), a 100% Gazpromís subsidiary, was established in April 1997. NIIgazeconomica is a successor to the VNIIEgazprom Institute established in 1967. In October 2001, NIIgazeconomica became Gazpromís parent Scientific Center of Economics and Management for the Gas Industry.

From November 2002, Teodor Shtilkind, the Instituteís Deputy Director General, was NIIgazeconomicaís Executive Director General.

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