Gazprom President Alexei Miller and Rosneft President Sergei Bogdanchikov made a joint announcement to the TV Channel One and the NTV channel today in Gazprom’s offices.

The Information Center sets forth below the text of this announcement:

‘Works performed recently by Rosneft and Gazprom have achieved important results: the structure of the companies’ share and assets exchange has been confirmed today. This will help the state to obtain Gazprom’s controlling stock and allow the market deregulation of the Gazprom shares. Gazprom will from now on be more closely associated with oil.

Rosneft and Gazprom will continue to operate as separate legal entities. Rosneft will retain all its competitive advantages, and after the merger the company will not only continue to develop within the framework of its current activity, but will also implement all its previously designated strategic development plans.

We feel our responsibility toward our partners and are certain that, both now and in the future, all of Rosneft’s obligations (including its international agreements) will be fulfilled.