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    MOSCOW ARBITRATION COURT INVALIDATES EXTRA YUKOS STOCK. OIL MAMMOTH TO APPEAL

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    MOSCOW, MARCH 1, RIA NOVOSTI - The Moscow arbitration court has invalidated an extra Yukos stock emission. The controversial petroleum mammoth is determined to appeal against the verdict, a company officer said to Novosti.

    The appeal will be made as soon as verdict motivation is obtained-which is expected within the next five days, he added.

    Today's verdict, following closed-door hearings, satisfies a suit brought by former Sibneft petroleum company stockholders.

    The Yukos failed to comply with the Securities Market Law in extra stock emission of July 22, 2003, companies Nimegan Trading, Ltd. and Gemini Holding, Ltd. assumed as they sued the Yukos and the Federal Securities Commission.

    The Yukos acquired 92 per cent of Sibneft stock in last year's corporate merger. It purchased a 20 per cent block for three billion US dollars from previous Sibneft proprietors, and exchanged the other 72 per cent for its own stock. A 47.5 per cent Sibneft block was exchanged for Yukos securities of the latest emission, whose legality the former Sibneft bosses doubt.

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