Moscow, December 30, 2003.The Sibneft extraordinary general meeting of shareholders scheduled for today did not proceed due to the absence of a quorum.

Sibneft today also announced the results of an EGM held on December 16, 2003, where shareholders voted against proposed amendments to the company’s corporate charter.

Contact:

John Mann

Sibneft

Tel:  +7 (095) 777 3116

Fax: +7 (095) 777 3114

JohnM@sibneft.ru

www.sibneft.com