Moscow, July 14, 2005. The decisions related to appointment of the Company’s General Director and approval of the Management Board have been made at the «CenterTelecom» JSC Board of Directors Meeting held today.

Taking into account recommendations worked out by the Staff and Remuneration Committee and Audit Committee of the «CenterTelecom» JSC Board of Directors, members of the Board made the following decisions:

• To appoint Ruben A. Amaryan as General Director of the Company;
• To determine General Director’s term of office from July 16, 2005 to July 15, 2006 inclusive;
• To approve the terms and conditions of the labour contract concluded with General Director of the Company.

Taking into account recommendations of the Board of Directors Committees, members of the Board also made decision to form the Management Board of «CenterTelecom» JSC for the period starting with July 16, 2005 to July 15, 2006 and consisting of the following eleven members:

1. Ruben A. Amaryan – General Director of "CenterTelecom" JSC

2. Ella M. Zhuravleva – Deputy General Director – Director for Personnel of "CenterTelecom" JSC

3. Elene V. Zabuzova – Director of Economic Planning and Budgeting Department of «Svyazinvest» JSC

4. Raisa P. Konstantinova – Chief Accountant of  "CenterTelecom" JSC

5. Aleksey A. Lokotkov – First Deputy General Director – Financial Director of "CenterTelecom" JSC 

6. Nikolai V. Mezhuev – Deputy General Director – Director of Moscow subsidiary of "CenterTelecom" JSC

7. Maxim A. Pegasov – Deputy General Director – Technical Director of "CenterTelecom" JSC

8. Sergei V. Pridantsev – Deputy General Director – Commercial Director of "CenterTelecom" JSC

9. Victor D. Savchenko– Director of Legal Department of  «Svyazinvest» JSC

10. Tatyana N. Sotskova – Director of Legal Department of «CenterTelecom» JSC

11. Valery P. Sychev – Deputy General Director for Security and Confidentiality Enforcement of "CenterTelecom" JSC

For details contact:

Director of Securities and Corporate Management Department

Elena Romskaya

+7 (095) 793-2319

esidorovich@centertelecom.ru

Head of Investors Relations Division

Andrei Kalinchenko

+7 (095) 793-2340

kalin@centertelecom.ru

Director of Information Policy Department

Yana Lavrentyeva
+7 (095) 793-24-86

e-mail: pr@centertelecom.ru

www.centertelecom.ru