Organizational Changes took place at the SIBUR Subsidiary OJSC AK Sibur

By decision made at the OJSC AK Sibur shareholder meeting in December 2009 the Board of Directors of the entity has cut the President sole executive powers of OJSC AK Sibur from today.

Since March, 11 2009 the sole executive powers of the entity transfer to the management company LLC SIBUR.

These changes have organizational nature and aim to simplify procedures of corporate governance within SIBUR Group.

OJSC AK Sibur doesn’t have any business activity being a subsidiary of JSC SIBUR Holding for servicing company’s debt which was accumulated before the foundation of JSC SIBUR Holding.

Neither staff nor structural changes at JSC SIBUR Holding and its management company LLC SIBUR have occurred.