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YUKOS' Official Announce On Executive Arrest

The management of YUKOS Oil Company is surprised by the brutal and overt attack on the individual rights of....

The management of YUKOS Oil Company is surprised by the brutal and overt attack on the individual rights of Mr.Vasili Aleksanyan, which has taken place over the last 48 hours, just six days after his appointment as the Executive Vice President of YUKOS.

Mr. Aleksanyan was appointed by Steven Theede, Chief Executive Officer on 1 April 2006 and his appointment was unanimously ratified by the Board of Directors on 4 April 2006, as a direct result of the Company?s need to have a qualified representative to work with the court appointed Bankruptcy Observer, Mr. Eduard Rebgun. Mr Aleksanyan?s role was to be the main contact with Mr. Rebgun during the bankruptcy process and to assist in ensuring that all Company assets be fully protected.

A spokesperson for YUKOS Oil Company said: ?On Wednesday 6 April 2006, just six days into his new role for the Company Mr. Aleksanyan found himself arrested and in a Moscow courtroom. We can only assume that this action against him is a direct result of his accepting a position to work to protect YUKOS Oil Company and its legitimate stakeholders?.

Commenting on the arrest and detention of Mr Aleksanyan, Steven Theede said:
?I joined YUKOS only six weeks before Mr.Khordokovsky?s arrest and for the two and a half years I have been with the company I have had to devote my time to dealing with its many widely publicised problems while at the same time meeting management obligations that come with a publicly held company. Mr Aleksanyan?s appointment was intended to play an important role in helping us meet those obligations.

?That said, maybe I should not be so surprised that this arrest has been so brazenly carried out. Those who wish harm for YUKOS have learned that actions that would normally be considered inappropriate when effected against YUKOS will be met with essentially no repercussions from inside or outside Russia. This was amply illustrated by the collusion of the consortium of ?western? banks and Rosneft who initiated the untimely bankruptcy of YUKOS?.

?We are obviously concerned about Mr. Aleksanyan?s health and wellbeing given the situation. Mr. Aleksanyan worked for Yukos as its General Council for a number of years until late 2003 during which time he played a pivotal role in transforming YUKOS into the modern transparent Company respected the world over. Even though he had not been directly associated with the Company since that time he still carried a strong sense of responsibility for its success and survival which is why he accepted his position as Executive Vice President. We hope for his early release?.