Moscow, March 4, 2003. An extraordinary meeting of Sibneft shareholders on February 28, 2003 approved a corporate restructuring in the form of the acquisition of independent trading company Yunikar LLC. Meeting participants voted 99.34% in favor of the decision.

The acquisition of Yunikar is in line with Sibneft’s ongoing program for consolidating management, financial and trading operations into a unified corporate structure.

Contact:

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