Shares

Gazprom is the largest joint-stock company in Russia.The total number of the Company’s shareholders is over 500 000. The state owns a 50.002 per cent controlling stake in Gazprom.

Gazprom’s equity capital

	Stake, % as at 31.12.2008
Stake controlled by Russion Federation	50,002
The Federal Agency for Federal Property Management	38,373
Rosneftegaz	10,740
Rosgazifikatsiya	0,889
ADR holders	22,150
Other registered entities	27,848

Initial Public Offering

On May 20, 1993 the Russian Federation Ministry of Finance registered the issue of Gazprom’s shares totally worth RUB 236,735,129 at a par value of RUB 1,000 per share. The state registration number assigned to the share issue is MF73-1p-0204.

On October 21, 1994 the Russian Federal Property Fund carried out, according to the Russian President Order No.1705 of December 31, 1992 and based on the outcomes of the specialized cheque auction for selling RAO Gazprom shares held in 61 regions of the Russian Federation between April 25, 1994 and June 30, 1994, the split-up of the Company’s shares. The shares were split in the following way: 1 (one) share with a par value of RUB 1,000 (one thousand) was split into 100 (one hundred) shares with a par value of RUB 10 (ten).

On August 19, 1998 the Russian Federal Securities Commission (FSC), introduced ad registered, according to the Russian Federation Government Decree No.217 of February 18, 1998 “On the Specifics of Securities Circulation Due to a Change in the Face Value of Russian Currency and the Scale of Prices”, the FSC Decree No.6 of April 20, 1998 “On the Order of Amendments into the Resolution on Securities Issue, Emission Prospectuses, Privatization Plans and Foundation Documents That May Arise from the Changes in the Face Value of Russian Currency and the Scale of Prices” and according to the FSC resolution of August 17, 1998, the amendments into the emission prospectus for ordinary nominal uncertified shares (state registration number assigned to the issue is MF73-1p-0204 of May 20, 1993). As a result, the face value of ordinary nominal shares accounts for RUB 0.01.

Thereafter, Gazprom’s first ordinary nominal uncertified stock issue (state registration number MF73-1p-0204 of May 20, 1993) at a nominal value of RUR 0.01 per share and 23673512900 shares in number was cancelled in terms of conducted on December 30, 1998 conversion to ordinary nominal uncertified stock of second issue at a nominal value of RUR 5 per share and 23673512 900 shares in number.

Entities recorded in Gazprom’s shareholders’ register and holding over 2 per cent of the shares as at December 29, 2007

Registered entity	Equity stake, %
The Russian Federation reperesented by the Federal Agency for Federal Property Managemen	38,373
Gazprombank (Open Joint-Stock Company) (nominee holder)	42,041
Rosneftegaz	10,740
Gerosgaz	2,930
E.ON Rurhrgas AG	2,500

Secondary Public Offering

Essential data on floating Gazprom’s securities (shares):

• Ordinary nominal uncertified shares
• Number of shares issued: 23 673 512 900 shares
• Nominal value of a share: RUR 5
• Total nominal value of shares issued: RUR 118 367 564 500

American Depositary Receipts (ADR)

ADR (an American Depositary Receipt) is a free-floating security issued by an American Depositary and representing ownership interests in the deposited securities of foreign companies.

ADR for Gazprom’s shares were issued to provide the floating of the Company’s shares in international markets. Before April 18, 2006 one ADR share was equal to 10 Gazprom’s shares.

On April 18, 2006 the number of Gazprom’s ordinary shares corresponding to one ADR was decreased from ten to four. ADR, floated earlier were automatically converted pursuant to the said ratio.

Since April 18, 2006 it has been also possible to convert Gazprom’s ordinary shares to ADR and back.

DR 144А Program

DR-I Level Program

Capitalization

In 2007 Gazprom’s market capitalization grew by 21.18 per cent and equaled USD 329 563 bln at the year end. In terms of market capitalization, Gazprom is the world’s third largest energy company just behind PetroChina (China) and ExxonMobil (USA).

Dividends

The principles set in the Gazprom’s Dividend Policy provide for the balance between corporate interests and shareholders’ interests.

In line with Gazprom’s 2006 operating results, dividends are paid off in the amount of RUR 2.54 per share (a 69.3 per cent increase compared to 2005).