Moscow, March 13, 2003. Sibneft has launched a new version of its award-winning website in both English (www.sibneft.com) and Russian (www.sibneft.ru). The new site retains the look and feel of its predecessor, while presenting updated information and adding several new functions designed to improve corporate transparency.

The highlight of the new site is an expanded Investor Center, with a special section for financial analysts and new areas for posting shareholder meeting materials, regulatory filings and other documents of interest to investors. Another important addition is the Careers at Sibneft section, where employment candidates can find information on job openings and communicate directly with the company.

The site’s Our Company, Our Business, and Newsroom sections feature improved layouts as well as the latest information on Sibneft and its operations. The new version also retains the popular Learning Zone and the Gallery of Sibneft photos.

Webranking 2002, published in the Financial Times IT-Review last November, honored Sibneft for having the best corporate website in Russia, as part of its annual survey of 500 major corporate websites from throughout Europe. The ranking was based on the availability of information most desired by investors as determined in a broad survey of international financial analysts.

Contact:

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