Following yesterday's announcement of a deal for the acquisition of Sibneft by Gazprom Sibir wishes to clarify its position in relation to the legal actions brought by Sibir and Yugraneft in the BVI and Russia against Sibneft, Roman Abramovich, and Sibneft associated companies. Sibir's legal rights in these cases are unaffected by the change in ownership in Sibneft and these claims will
continue to be pursued. Sibir remains determined to achieve restitution of its assets.

However, Sibir does consider Gazprom's proposed acquisition of Sibneft to be a material development in the Sibneft-Yugra fraud case. Gazprom is a responsible corporation controlled by the Russian Federation and will in the course of due diligence recognize that the fraudulent dilution of Sibir's interest in Sibneft Yugra by Sibneft must be remedied by the return of Sibir's interest in the Sibneft Yugra Joint Venture. Sibir welcomes the prospect of working together with Gazprom in the development of Sibneft Yugra.