Moscow. December 23, 2004. Sibneft today launched a new version of its award-winning corporate website. The changes are designed to offer Sibneft’s partners and customers an expanded range of information about the company and its activities, in line with Sibneft’s ongoing commitment to improving transparency and corporate governance.

The highlight of the new version of the site is the launch of web pages for several of Sibneft’s regional marketing subsidiaries, including Sibneft AZS Service (Moscow city and region), Tyumennefteproduct (Tyumen region), Kuzbassnefteproduct (Kemerovo and Tomsk regions), and Ekaterinbergnefteproduct and Sverdlovsknefteproduct (Sverdlovsk region). These sites, accessible from the Sibneft home page, contain important information for retail and wholesale customers on the products and services offered by each affiliate, as well as map locators for service stations. Additional Sibneft marketing affiliates are expected to go online in 2005.

Other new and recent additions to the Sibneft corporate site include:

- Sibneft in the Community – a new section that details Sibneft’s commitment to the communities in which it works, with information on the company’s charity, sponsorship and environmental programs.

- Sibirskaya Neft – the online version of Sibneft’s Russian-language corporate magazine, now accessible from a link on the website’s homepage.

- Improved Stock Ticker – Sibneft’s latest share prices on RTS and MICEX stock exchanges in a new, more accessible format.

- Tender Announcements – the site’s Newsroom now features a section for tender announcements by Sibneft and its subsidiaries.

Despite the changes, Sibneft has maintained the attractive design of the website, which has received plaudits for its ease of use.

Contact:

John Mann
Sibneft
Tel: +7 (095) 777-3116, 777-3182
Fax: +7 (095) 777-3114
JohnM@sibneft.ru
www.sibneft.com