Gazprom intends to offer a debut Eurobond tranche in EURO

Gazprom announced today that it intends to raise a benchmark size EURO denominated Eurobond with an intermediate maturity. The Company will be meeting with investors in Europe and Asia from September 10th.

Gazprom intends to launch and price the issue in the week of September 15th.

Deutsche Bank and UBS are arrangers and lead managers of Gazprom’s Eurobond issue.

Roadshows in Asian countries will be led by Boris Yurlov, Deputy Chairman of Gazprom’s Executive Committee. Meetings with investors will take place on September 11 in Hong Kong and on September 12 in Singapore.

Roadshows in European countries will be led by Andrei Kruglov, Member of Gazprom’s Executive Committee and Head of its Corporate Financing Department. They will take place on September 10 in Zurich/Geneva, on September 11 in Milan/Vienna and on September 12 in Frankfurt.

A final meeting with investors will take place in London on September 15, 2003.

These materials are not an offer for sale of any securities of Gazprom in the United States. Any securities offered by Gazprom in connection with this potential offering may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended. Gazprom does not intend to register any portion of the offering in the United States or to conduct a public offering of the securities in the United States.

This communication is directed only at (a) persons who are outside the United Kingdom and (b) those persons in the United Kingdom who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the “Order”) or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons mentioned in (a) and (b) together being referred to as “relevant persons”). Any securities mentioned in this communication will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Stabilization/FSA.

This press release is not a public offer or advertisement of securities in the Russian Federation, and is not an offer, or an invitation to make offers, to purchase any securities in the Russian Federation.

Mass-media relations department 

Joint-Stock Company “Gazprom”, Press Service