Meeting of the Board of Directors of Gazprom

A meeting of the Directors’ Board of Gazprom took place today; the following decisions were made at the meeting:

• the Directors’ Board took into consideration the information on realization of measures to increase the volume of gas production.
• within the frames of perfection of the financial planning program the Directors’ Board charged the Management Committee to submit to the Board the following documents for examination and approval: forecast of financial results, balance of payments and financial resources limit, balance of claims and liabilities, cash flow projection.
• the Directors’ Board approved the US$ 1,000 million issue and flotation at international financial markets Eurobond Notes with a 10-year maturity, in accordance with “Provision S”/ “Rule 144A”.
• the Directors’ Board approved the deals made within its competence.
• the Directors’ Board approved its working schedule for the first half year of 2003.

Information Directorate, OAO Gazprom