Moscow, 2 February 2004 - In connection with negotiations concerning a possible purchase of 92% of the shares in OAO Sibneft by the former core shareholders of this company, and in compliance with international standards of corporate governance, YUKOS Oil Company has retained Credit Suisse First Boston as financial consultants and Cleary Gottlieb, Steen & Hamilton as legal consultants.

The above consultants have been retained in order to ensure that the interests of all YUKOS Oil Company shareholders are observed unconditionally.

As was reported earlier, JP Morgan Chase and Squire, Sanders & Dempsey have been retained as financial and legal consultants, respectively, of the YUKOS Oil Company Board of Directors, which is responsible for monitoring and approving the conditions of the purchase of 92% of the shares in OAO Sibneft.