Outcomes of EuRoPOL GAZ’s Supervisory Board and Shareholders' meeting

On 16 June 2004, Warsaw hosted a meeting of EuRoPol GAZ’s Supervisory Board (SC), headed by Alexander Ananenkov, the SC Chairman and Deputy Chairman of Gazprom’s Management Committee. Konstantin Chuychenko, the SC Member, Gazprom’s Management Committee Member and Head of Gazprom’s Legal Department also took part in the meeting on behalf of Russia.

The SC ratified a report by EuRoPol GAZ’s Management Board (MB) on the corporate operating highlights for 2003, financial report for 2003, the MB's proposals to the General Shareholders' Meeting on profit allocation for 2003 and the SC's report for 2003.

The SC members took into account information by the MB on a current state of affairs with the construction of the Ciechanow, Szamotuly and Zambrow compressor stations, heard a report on the measures stepped up by EuRoPol GAZ for completing the construction of a fibre optical communications line at the Polish section of the Yamal – Europe gas pipeline as well as became acquainted with a report by the MB on the existing Polish legislation covering the natural gas transit VAT rate.

The SC paid special attention to the issue of constructing an administrative building of EuRoPol GAZ in Warsaw.

On 17 June 2004, EuRoPol GAZ hosted an ordinary General Shareholders' Meeting. Gazprom was represented at the Meeting by Konstantin Chuychenko, Gazprom’s Management Committee Member and Head of Gazprom’s Legal Department.

The Shareholders' Meeting approved actions of the MB members in 2002 and 2003, ratified the report by EuRoPol GAZ’s MB on the corporate operating highlights for 2003 as well as the financial report for 2003.

EuRoPol GAZ's shareholders reviewed and ratified the SC's report for 2003, adopted a resolution on profit allocation for 2003 and approved the SC members' performance for 2003.

Information Directorate, OAO Gazprom