24 June 2007 — As a result of recent information that has come to the attention of ZAO PricewaterhouseCoopers Audit (PwC) in relation to OAO NK Yukos (Yukos), PwC has written to the management board of Yukos informing them that the PwC audit reports on Yukos for the periods ended 31 December, 1995–2004 inclusive should no longer be relied upon or associated with Yukos’s financial statements.

PwC decided to withdraw its audit opinions for Yukos when it became aware of new information which had it been known at the time may have affected Yukos’s audit reports. PwC now believes information and representations which was provided to PwC by Yukos’s former management may not have been accurate.

In addition, PwC’s decision to withdraw the reports was influenced by the fact that some former shareholders and management of Yukos are continuing to encourage others to rely on PwC’s audit reports.