Russ Oil-Gas

03–04–2009 – Steel Guru – Gazprom announced its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” for the nine months ended September 30th 2008. The deconsolidation of the Gazprombank Group as of 30 June 2008 had the most significant impact on this financial information. OAO Gazprombank’s general meeting of shareholders on 24 June 2008 elected a new Board of Directors. The new Board of Directors has 5 representatives of the Group out of its 12 members. As a result, the Group lost its ability to control the financial and operational policies of OAO Gazprombank and its subsidiaries, including OAO Sibur Holding and its subsidiaries as well as entities of Gazprom-Media Group, and terminated consolidation of Gazprombank Group entities as subsidiaries. Given the fact that the Group continues to significantly influence Gazprombank Group, it is included in the financial statements as an associated company. This change impacted the consolidated interim condensed balance sheet as of the reporting date but did not have a significant impact on the consolidated interim condensed statement of income.
The table below presents the unaudited consolidated interim condensed statement of income for the nine months ended September 30th 2008 and 2007.    
In RUB million