Sponsors

Alfa Bank
Simon Vine, Head of Fixed Income
Alexander Tolchinsky, Managing Director and Member of the Executive Board,

Founded in 1990, Alfa Bank is a largest privately owned bank in Russia. It is a full service bank, providing commercial banking, investment banking, asset management, trade finance and insurance.

Alfa Bank has more than 80 branches across Russia and the CIS and fully licensed banking subsidiaries in Ukraine, Kazakhstan and the Netherlands.

The Bank’s fast growing brokerage business has a FSA authorised arm in London — Alfa Securities Limited — and a NASD regulated operation in New York — Alfa Capital Markets Inc. Inside Russia, Alfa Bank is a leader in mergers and acquisitions and debt capital markets and is one of the biggest issuers of banking cards. The Bank also runs the country’s largest mutual fund.

The Bank is a core holding of Alfa Group Consortium, a privately owned financial industrial group with interests ranging from oil and telecommunications to supermarkets and commodities trading.

As of 31 December 2001 Alfa Bank had assets of $2.7 billion and shareholders’ equity of $278 million. Net profits in 2001 were $85 million compared with $77 million in 2000.

Alfa Bank is rated B- by Fitch IBCA, B1 by Moody’s and CCC+ by Standard & Poor’s. These are the highest ratings for a private financial institution in Russia.

The Bank has won numerous press awards, including Global Finance’s Best Russian Bank and Best Trade Finance Bank in Russia, 2002 and Bank of the Year 2000 in the Banker.

For more information please visit: www.alfabank.ru or www.alfabank.com

Finartis
Konstantin Shmelyov, Investment Director

Finartis and its affiliates have been operating since 1998 as an advisory, asset management and investment group focused on investing, identifying and providing advice with respect to attractive investment opportunities in Russia and FSU. Since its inception, Finartis has invested and advised its clients on projects from the start-up phase through the post mezzanine investment stage. Finartis has taken an active role in structuring and implementing projects with a total project value exceeding US$ 1 billion in entities in the Region.
Finartis has experience across a broad range of industry sectors, including financial services, food and beverage, light manufacturing, pharmaceutical, retail, telecommunications etc. As an integral part of the management process, Finartis assumes an active management role in Portfolio Companies to promote value creation.

MFK Investment Bank – Kiev
Igor Mazepa, Managing Director

MFK is an investment bank headquartered in Kiev, Ukraine. MFK is focused exclusively on providing high-quality full-service brokerage and M&A and privatization advisory services.

Established in 2000 by a group of professionals with a solid background in securities and corporate finance, MFK has since come to represent Ukraine’s accumulated expertise in privatization and M&A advisory, whose experts shaped up the Ukrainian stock market, and helped the government privatize numerous industrial giants.

Today, MFK tops the list of Ukraine’s largest brokers by volume of trade. In particular, in 2001 it ranked a Number 1 derivatives trader and a Number 1 equities trader among Ukraine’s stockbrokers.

MFK is a member of or has seats in all of Ukraine’s major exchanges, such as PFTS, the OTC-type electronic stock exchange, the Ukrainian Interbank Currency Exchange (UICE), the Ukrainian Stock Exchange (USE). The company is also a member of American Chamber of Commerce in Ukraine.

MFK’s securities business encompasses a research-driven stockbroking operation (having one of the largest sales forces in Ukraine) together with a comprehensive trading capability. Trading covers equity, corporate and government debt, and derivatives. Research covers major Ukrainian listed companies. Additionally, our research team makes comprehensive annual overviews of the most dynamic sectors of Ukraine’s economy. MFK is also licensed to provide integrated custodial services to all its customers.

The Corporate Finance and Advisory business provides a complete range of advisory services to public and private companies and government. The services are geared toward high growth companies and include Merger & Acquisition (M&A), Privatization and Restructuring Advisory, Private Placements, IPO advisory etc.

Teton Petroleum Company
H. Howard Cooper, President

Teton Petroleum Company is an E&P company that is headquartered in Steamboat Springs, Colorado. The shares trade in the US on the Over The Counter Bulletin Board under the symbol TTPT and on the Frankfurt Exchange under the symbol TP9. Teton is, to our knowledge, the only U.S. oil and gas Exploration Company with all its assets in Russia that is publicly traded in the U.S. The company has been successfully developing a large oil field in Siberia since 1997. Teton conducts its business through a 50% ownership interest in Goltech LLC, a Texas limited liability company, which, in turn, has a 70.59% interest in Goloil, a Russian closed joint stock company. Goloil owns the license that contains the Eguryak Field in Western Siberia. Teton’s net reserves as estimated by Gustavson Associates, Inc. are 42.1 million proven barrels. A portion of the oil from the field is exported to Germany at world prices for U.S. dollars and the remainder is sold in the domestic market. Teton Petroleum has been exporting oil for US dollars and selling oil in Russia for Rubles since 1997. There are currently 28.4 million shares outstanding and 6.7 million warrants/options. The stock has appreciated from $.18 to $.46 cents in 2002. Teton net reserves in the Russian oil field is 40 million proven barrels with a present value discounted at 10% of $46.9 million net to Teton based on Gustavson and Associates reserve report. Teton’s strategy is to continue to develop the Eguryak oil field and obtain new fields as well. To summarize, Teton has been producing and exporting oil in Western Siberia for US dollars for five years, its Russian partner invests on a 50/50 basis with Teton, and it is fully audited reporting company.

United Financial Group
Stephen O’Sullivan, Head of Research
Alexei Yakovitsky, Analyst

United Financial Group is Russia’s leading independent investment bank. We provide quality client-driven services based on sound research, sharp analysis and the best mix of Russian and western expertise. UFG offers a broad range of services, including sales and trading, execution of capital market and private equity transactions, advice on mergers and acquisitions, structured products, in-depth research and asset management. We satisfy our clients by maintaining high standards of integrity and commitment to innovation.

Former Minister of Finance Boris Fedorov, who founded UFG in 1994, set the firm on a course to provide research and advice to that rare breed of professional investor who saw opportunity in the unleashing of market forces in Russia. Investing in this dynamic environment, characterized by inadequate market infrastructure and poor transparency, requires an unusual investment firm – one dedicated to excellence and, in particular, to reliable and innovative execution suited to clients’ changing needs.

UFG has successfully identified trends emerging in the Russian market and offers clients creative financial instruments to access opportunities. ru-Net Holdings Ltd., Russia’s first Internet aggregator which was co-founded by UFG and its clients, exemplifies this creative spirit. And while exploring new ideas is just one of our strengths, we believe our reputation is enhanced just as much by the deals that we did not do as by those that we did.

We play an active role in developing Russia’s market infrastructure and promoting the adoption of a market-oriented and transparent corporate culture. UFG professionals dedicate their time to serving on the boards of all the market’s self-regulatory organizations, major exchanges and investor protection associations. We view this work as an integral part of our service to clients.

We support the creation of a civilized market in Russia by actively promoting clients’ efforts to gain representation on the supervisory boards of Russia’s major companies. Boris Fedorov has championed the cause of better corporate governance in concert with our clients by representing them on the boards of several leading Russian corporations.

UFG’s internationally-ranked Research Department prides itself on producing comprehensive reports on Russia’s major companies, macroeconomic and political developments and market trends. Clients rely on our research in formulating their investment strategies in Russia. They know they are in good hands, entrusting the execution of their plans to our experienced Sales and Trading team.

UFG also boasts the market’s leading Investment Banking team, providing structured products, corporate finance and mergers and acquisitions advisory services. Our collective talents and experience cover a diverse range of the most important Russian economic sectors, including oil and gas, telecommunications, technology and media, power generation, consumer products and transportation.

United Financial Group is a truly independent investment bank in a market characterized by financial-industrial groups. We understand the value of our independence, which in turn shapes our unique view of the market. By focusing on long-term solutions rather than short-lived advantages, we offer a fresh market outlook based on objective and unbiased information and sound analysis. UFG’s strategy is founded on the principle that the best way to ensure our own profitability is to guard and serve our clients’ interests.

For almost six years, UFG has been dedicated to assisting the premier institutional investors, corporations and high net worth individuals in navigating the turbulent Russian capital markets. We negotiated the Russian financial crisis of 1998 with our capital, team and reputation intact. We not only survived the storm, but also improved the quality and scope of the services we provide to our clients. We are committed to the belief that Russia’s renewed economic and political stability will bring the exceptional opportunities and returns our clients expect. www.ufg.com

YUKOS

Who We Are

One of Russia's largest publicly traded companies
Second-largest fully integrated petroleum company in Russia
One of the world's largest non-state oil companies by proven reserves
A retail network of more than 1,400 branded filling station
A group of approximately 100,000 dedicated people
Incorporated in 1993
Publicly traded through Russian Trading System (RTS), Moscow Stock Exchange (MSE), MICEX, and Level 1 ADRs on US OTC and Munich, Berlin and London Stock Exchanges
Headquartered in Moscow, Russia

Reserves

Proven oil reserves of 11.8 billion barrels
2.59 trillion cubic feet of proven gas reserves as of end-2000
Most reserves located in Western Siberia, including one of Russia's largest oil fields, Priobskoye, with proven reserves of 3.5 billion barrels.

Production

Average daily output of 1.2 million barrels
Total production of 58.07 million tons in 2001
17% of Russian oil production
17.2% production growth in 2001
Target of 75-80 million tons by 2005

Refining

Five refineries — three in Samara region, one in Achinsk and one in Angarsk
Combined refining volume of 29 million tons
Accounts for 17.5% of all oil refined in Russia, more than any other company
Russia’s biggest refiner of gasoline and diesel fuel, with 18% of the market

Marketing

Exports 45% of crude oil produced, including to other CIS countries and via the Baltic and Black Seas and the Druzhba pipeline
Majority of oil products are sold on domestic market, both at refinery gate and through local wholesale and retail networks
One of the largest chain of filling stations in Russia — more than 1,400 nationwide

Corporate Governance

New corporate governance charter approved in June 2000
Reporting of corporate accounts utilising U.S. GAAP (Generally Accepted Accounting Principles) quarterly and annually
Provided $100 and $300 million dividend payout in 1999 and 2000 respectively
Interim dividend of USD 200 million for 2001
Improved balance sheet and liquidity

Environment, Health and Safety Policies

Implementing internationally recognised guidelines for environmental protection, health and safety
Special ecological units at the company's production enterprises
Adherence to QHSE (Quality, Health, Safety, Environment) management system

Building a World Class Team

Significant investments in employee training and continuing education
Performance-based compensation instituted in 2000
Developing employee health and retirement programmes

www.yukos.com