RECORD NUMBER OF JOURNALISTS COVER YUGANSKNEFTEGAZ AUCTION

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MOSCOW, December 19 (RIA Novosti) - A record number of journalists (180) will participate in the coverage of the Yuganskneftegaz sale auction, announced Russian Federal Property Fund (RFPF) official Vladimir Zelentsov. The auction is scheduled for 16:00 (Moscow time).

Mr. Zelentsov mentioned in comparison that 70-80 journalists covered the recent sale of a bloc of LUKoil shares.

The RFPF official added that the auction would start with a meeting of auction committee, which includes RFPF officials and representatives of other concerned ministries and agencies. Initially, the commission will review the observance of all requirements to the participants of the auction (advance payment of 49.35 billion rubles and timely bidding offer sent to the Russian Anti-Trust Service). After that, it will name the actual participants of the auction.

The commission will also determine the amount of spread at the auction, which is initially set at 1-10% of the starting price of the bloc of shares. The starting price constitutes 246 billion 753 million 447 thousand and 303 rubles, approximately $8.6 billion ($1 equals 27.84 rubles).

Yesterday, the Federal Anti-trust Service reported that it had received four official bid offers for Yuganskneftegaz.

"It will be an open auction in terms of bidding offers," the RFPF official explained. "It will be an open auction 'with a mallet'," he added.

The trading is going to be conducted in full lots of 43 common shares of Yuganskneftegaz.

Nominal price of each share is 177 thousand and 889 rubles and 80 kopecks. The official seller (debtor) of the stock is Yukos.

The Federal Anti-Trust Service accepted bid offers from Gazpromneft (100% Gazprom subsidiary), First Venture Company, Intercom and Baikalfinancegroup.

All assets and accounts of Yukos and its main subsidiaries have been arrested. The Russian justice ministry decided to sell Yuganskneftegaz to clear off Yukos tax debt. It announced the decision at the end of July.

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