OREANDA-NEWS. On 18 February 2008 was announced, that West Siberian and Alliance Group signed an agreement to create a leading independent, fully integrated oil company operating in Russia and Kazakhstan, listed on the OMX Nordic Exchange Stockholm. The combined group will have proved and probable oil reserves of 4841) million barrels, production of close to 51,000 barrels per day, refining capacity of 70,000 barrels per day, a network of 255 gas stations and 24 wholesale oil terminals. The transaction will have a substantial positive impact on WSRґs revenue, EBITDA and earnings.

A Special General Meeting will be held on March 3, 2008 to approve the transaction.