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BSX Approves Listing of up to 20,000,000 Ordinary Shares of Rengaz Holdings Limited

13 13 2004

Hamilton, Bermuda, 13 May 2004 - The Listing Committee of the Bermuda Stock Exchange (BSX) today announced the approval of the listing of up to 20,000,000 Ordinary Shares of Rengaz Holdings Limited ("the Company").

The Company was incorporated in the Cayman Islands on 13 April 2004 as an exempted closed-end investment company. The offer of Ordinary Shares in the Company was launched on 26 April 2004.

The investment objective of the Company is to achieve capital appreciation through investment in Gazprom Shares. The Investment Manager will seek to invest the entire assets of the Company in indirect interests (through wholly owned subsidiaries) of Gazprom Shares.

Reid Services Limited sponsored the listing of the Ordinary Shares of Rengaz Holdings Limited. The securities are being listed under the Listing Regulations for Collective Investment Schemes and the provisions for Restricted Marketing.

"The BSX is pleased to welcome Rengaz Holdings Limited to listing", said Mr. James S. McKirdy, Chief Compliance Officer of the BSX.