Press releases

Today Vagit Alekperov, President of OAO LUKOIL (‘LUKOIL’ or ‘the Company’), and Alexei Miller, Chairman of the Board of OAO Gazprom (‘Gazprom’), signed a gas supply agreement (‘Agreement’).

President Vagit Alekperov of LUKOIL and Prime-Minister Algirdas Brazauskas of the Republic of Lithuania had a meeting in Moscow today in the framework of the Prime-Minister’s working visit to Russia.

The LUKOIL Board of Directors met in Burgas (Bulgaria) today to discuss the Company’s international downstream activities and new projects aimed at increasing the market value of Company shares.

The President of the Republic of Kazakhstan, Nursultan Nazarbayev, and LUKOIL President, Vagit Alekperov, held a working meeting today in Astana, the capital of the Republic of Kazakhstan, at which they discussed current and future LUKOIL activities in Kazakhstan.

LUKOIL today disclosed its consolidated financial statements for the first three and six months of 2003 prepared in accordance with US Generally Accepted Accounting Principles (US GAAP).

Moody’s Investors Service today assigned a Ba2 senior implied and a Ba3 issuer rating to OAO LUKOIL. The Company’s rating outlook is stable.

LUKOIL started up phase-1 of its new terminal with current annual capacity of up to one million tons in the village of Ilyinka, Astrakhan region, today. A double-track railway trestle for 50 tank cars will be used to offload oil and oil products. Crude and light petroleum products will be delivered to the terminal by rail for trans-shipment to river-sea tankers.