Moscow, October 29, 2003;Sibneft will release consolidated US GAAP financial statements for the first half of 2003 on Thursday, October 30, 2003.  A press release on the results and financial statements will be posted on the Sibneft website and distributed to subscribers of the Sibneft Newsline.

Contact:

John Mann

Sibneft

Tel:  +7 (095) 777 3116

Fax: +7 (095) 777 3114

JohnM@sibneft.ru

www.sibneft.com