Moscow, December 16, 2003. Sibneft today held an extraordinary shareholder meeting to consider changes the company’s corporate charter. In accordance with relevant legislation, the results of the meeting will be published within two weeks.

Contact:

John Mann
Sibneft
Tel: +7 (095) 777 3116
Fax: +7 (095) 777 3114
JohnM@sibneft.ru
www.sibneft.com