Results are presented of a statistical study of spectra of cosmic gamma‐ray bursts detected in the Soviet‐French experiment APEX on the Phobos‐2 spacecraft. Intense events withV/Vmax<0.3 are shown to have harder spectra than the weak ones withV/Vmax≳0.3. The time histories of intense and weak events are also different: the rise fronts of strong bursts are longer and correspond to more energetic photons than for the weaker ones. On the other hand, both for strong and weak events the mean durations and energy spectra of back slopes are similar. The astrophysical consequences of those results are considered for models of sources of gamma‐ray bursts.