Board of Directors of OJSC “Surgutneftegas” has adopted a resolution to convene an Annual Shareholders’ General Meeting for 2004.

The meeting is to be held on April 30 in Surgut.

March 25 is the date on which the list of shareholders who are entitled to participate in the meeting is to be made out.

The Board of Directors has reviewed and resolved to recommend the Annual Shareholders’ General Meeting to approve annual report, annual accounting records and profit distribution of the Company for 2004.

The Board of Directors has acknowledged the conclusion of auditing committee based on the audit results of annual accounting records and annual report of the Company for 2004.

The Board of Directors has also reviewed and acknowledged the conclusion of the auditor OOO “Rosekspertiza” based on the audit results of annual accounting records for 2004.

The following resolution regarding dividends has been adopted: to recommend Annual Shareholders’ General Meeting to declare dividend payments for 2004 at the amount of RUR 0.607 per a preferred share and RUR 0.4 per an ordinary share.

Press-Service of OJSC “Surgutneftegas”