Moscow, 17 September 2002; Sibneft shareholders approved amendments to the company’s charter required as a result of its acquisition of Argus, a trading company, at an extraordinary shareholder meeting held today by postal vote.

Shareholders also approved a new company bylaw covering the disclosure of information. The bylaw defines the scope of information to be disclosed to investors and other stakeholders, as well as the procedure for disclosing the information.

Contact:

Nick Halliwell
Sibneft
Tel: +7 095 777 3116
nick@sibneft.ru
www.sibneft.ru