KUKES RESIGNS FROM PARKER'S BOARD AFTER TAKING OVER YUKOS

Hart's Petroleum Finance Week, November, 2003

Simon G. Kukes has resigned from the Parker Drilling Co., Houston, (NYSE: PKD) board due to increased demands related to his new duties as chief executive officer of Yukos (OTC: YUKOY). He took over as Yukos CEO after Mikhail Khodorkovsky resigned from his post after his arrest last month on charges of fraud and tax evasion (See the Nov. 3 Petroleum Finance Week for details). Kukes joined Parker's board in July 2000.

Last week, Moody's Investors Service placed a negative outlook on the Ba1 senior implied and Ba2 issuer ratings of Yukos. Standard & Poor's Ratings Services said that while recent events do not affect Russia's sovereign rating, they corroborate what S&P has said about weak political institutions, a weak legal system, and political infighting...

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