Sibneft implements asset consolidation program

Sibneft stockholders are expected to convene for an extraordinary meeting today. Participants in the meeting will consider the affiliation of the Argus oil trading company. As the press service of Sibneft reported, the Sibneft board of directors decided to hold an extraordinary shareholder meeting on June 21, 2002 to launch the affiliation of Argus, which operates on the domestic market, under the framework of Sibneft's program on consolidation of all of its businesses in a holding company.

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