Meeting with shareholders held in Moscow

In the course of preparations for the Company's annual General Shareholders' Meeting, Gazprom’s representatives held on 8 June a traditional meeting with the Company’s shareholders located in Moscow.

The meeting was attended by roughly 300 people, including Olga Pavlova, Gazprom's Management Committee Member and Head of the Company's Asset Management and Corporate Relations Department, Mikhail Sirotkin, First Deputy Head of Gazprom’s Asset Management and Corporate Relations Department, Igor Lipsky, Deputy Head of Gazprom’s Asset Management and Corporate Relations Department, Alexander Dushko, Deputy Head of Gazprom’s Finance and Economics Department, Alexey Rozanov, Head of Gazprom’s Registration, Analysis and Corporate Policy Division, Valentina Olekhnovich, Head of Gazprom’s Immovable Property and Land Tenure Division, and Pyotr Bakaev, Head of Gazprom’s Financial Markets Division.

In delivering her report, Olga Pavlova informed the meeting of the major corporate operating results for 2003 and pointed out that Gazprom had recorded the best achievements since the Company's foundation. O. Pavlova stressed that the corporate paramount objective was capitalization growth being, undoubtedly, spurred by Gazprom's restructuring that envisaged considerable optimization of core business management structure and aimed at Gazprom's accessing the top 10 world's leading energy companies.

Olga Pavlova also took shareholders' questions related, in particular, to the corporate reforms, non-core asset divestiture, prospects of the Company's share price growth and corporate development trends and strategic priorities.

Infirmation Directorate, OAO Gazprom