Open Joint Stock Company Gazprom

OAO GAZPROMIAS CONSOLIDATED STATEMENT OF OPERATIONS(In millions of Russian Roubles in terms of the equivalent purchasing power of the Rouble at31 December 2001, except as noted)Year ended 31 DecemberNotes 2000 19995, 19 Sales 641,520 475,5305, 20 Operating expenses (485,805) (442,261)Operating profit 155,715 33,2694 Exchange gain 53,026 85,3504 Exchange loss (56,094) (135,697)Interest income 13,560 15,41113 Discount recorded upon restructured taxes 17,930 –Interest expense on taxes payable (16,388) (22,213)Other interest expense (33,897) (21,051)Net finance costs (21,863) (78,200)Share of net income (losses) of associated undertakings 755 (702)Income (loss) before gain on net monetary position, profit tax andminority interest 134,607 (45,633)3 Monetary gain 48,588 73,143Profit before profit tax 183,195 27,510Current profit tax expense (82,249) (35,060)Deferred profit tax benefit (expense) 240,854 (105,349)16 Net profit tax benefit (expense) 158,605 (140,409)Profit (loss) after profit tax 341,800 (112,899)23 Minority interest (1,801) (261)5 Net profit (loss) 339,999 (113,160)21 Basic profit (loss) per share (in Roubles) 16.28 (5.36)A.B. MillerI.N. BogatyrevaChairman of the Management Committee Chief Accountant28 June 2001 28 June 2001The accompanying notes are an integral part of these consolidated financial statements.F-5