RNS Number:6410J
Anglo Siberian Oil Company PLC
04 April 2003

4 April, 2003

Legal victory in Russia

Anglo Siberian Oil Company plc ("Anglo Siberian") is pleased to announce a major
breakthrough in its Vankor project in Russia.

The Property Fund of Turukhansk District owns 4% of Yeniseyneft Limited
Liability Company ("Yeniseyneft"), the Russian joint venture company which owns
the Vankor licence and project.  The Property Fund holds assets on behalf of the
local community.  It is one of Anglo Siberian's original partners.  Shareholders
will recall that ZAO Soyuzneftegas Invest claimed to have purchased 17% interest
in Yeniseyneft from OAO Yeniseyneftegas, another one of Anglo Siberian's
original partners.  The validity of this purchase is disputed.  Subsequently
Soyuzneftegas Invest was liquidated and the 17% interest was distributed to its
two shareholders, ZAO SN Resource (16%) and ZAO ISOC Soyuzneftegas (1%).

The Property Fund has brought legal action in the Arbitration Court of the City
of Moscow, seeking a declaration that this distribution was invalid.  The
Property Fund argued that under the Charter and Agreement of Yeniseyneft this
distribution required the consent of the other shareholders of Yeniseyneft.
Consent was not sought.  This constituted a serious breach of the procedure for
transfers of interests set forth in the Foundation Documents of Yeniseyneft and
an offence under the Russian Federal Law on Limited Liability Companies.

The Moscow Arbitration Court has upheld the claim of the Property Fund and has
declared the distribution invalid.  The 17% interest will therefore (by
operation of law) revert to Yeniseyneft and will be distributed among the
continuing shareholders in Yeniseyneft.

Robert Kennedy, Chief Executive of Anglo Siberian, said today:

"We welcome this decision.  It is subject to appeal by SN Resource and ISOC
Soyuzneftegas, but we expect the appeal process to confirm the decision of the
court of first instance."
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Enquiries:

Anglo Siberian - 020 7569 1100
Robert Kennedy - Chief Executive
Ian Wilson - Company Secretary

Hudson Sandler - 020 7796 4133
Michael Sandler
Jessica Rouleau


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