OGZD.L Regulatory News (OGZD)

18 Apr 2006 09:13

Oao Gazprom18 April 2006 GAZPROM'S LEVEL I DEPOSITARY RECEIPT PROGRAM BECOMES EFFECTIVE Today, April 18, 2006, OAO Gazprom announced its Level I Depositary Receipt (DR)program has become effective, and a simultaneous change of the conversion ratiofrom one (1) DR equals ten (10) ordinary shares to one (1) DR equals four (4)ordinary shares. Current Regulation S DRs of OAO Gazprom have been convertedautomatically at the ratio given above (subject to existing restrictions). Starting from April 18, 2006, Gazprom's Level I DR program enables theconversion of Gazprom's ordinary shares into DRs and vice versa (under currentlaws). Under the Level I DR program, the depositary receipts will be freely tradeablein the U.S. over-the-counter market, as well as in the European stock markets.The maximum number of ordinary shares underlying all DRs will be restricted to35% of Gazprom's authorized capital. OAO GAZPROM DIVISION FOR WORKING WITH MASS MEDIA contact phone numbers: (495) 719-10-77, 719-34-43 fax: (495) 719-90-08 e-mail: pr@gazprom.ru http:// www.gazprom.com This press release is not an offer for sale of any securities in the UnitedStates. Any securities may not be offered or sold in the United States absentregistration or an exemption from registration under the U.S. Securities Act of1933, as amended. This press release is not a public offer or advertisement of securities in theRussian Federation,, and is not an offer, or an invitation to make offers, topurchase any securities in the Russian Federation. This information is provided by RNS The company news service from the London Stock Exchange