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35

Yukos Owner Sold Controlling Stake In Sibintek

According to the new owners, the system integration business of Sibinket will have true breakthrough in the near term

Gibraltar?s Group MENATEP, the owner of Russia?s bankrupt oil giant YUKOS, sold 51 percent in information engineering supporting company Sibintek to Rus Investment and Financial Group on November 17, 2005.

On the same day Rus introduced new BOD members of Sibintek.

According to the new owners, the system integration business of Sibinket will have true breakthrough in the near term. ?So far, the orders of the parent company ? YUKOS ? accounted for 60 percent of Sibintek turnover,? said Marat Zagidullov, new chairman of the company?s BOD. ?We are willing to widen the share of external orders by more than one and a half. For this purpose, we intend, for instance, to buy out a small distributor of computer equipment.?