Krasnodar, July 01, 2005: Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reports that on June 30, 2005 after the Company’s Annual General Shareholders' Meeting the newly-elected Board of Directors held its first meeting. At the meetingFirst Deputy Director General of Svyazinvest Sergey Kuznetsov was elected Chairman of the Board of Directors and UTK’s CEO Georgy Romsky was elected BoD Vice-Chairman.
Denis Kulikov, expert of Investor Protection Association and member of UTK’s BoD said: “ I think that the newly elected members of UTK’s Board of Directors are top-notch professionals who will do their utmost to improve UTK’soperating and financial performance going forward”.
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Southern Telecommunications Company PJSC, or UTK, is the principal provider of fixed line telecommunications for Russia’s Southern Federal District, a region covering 520 ths sq km with population of 18.7 million people. "UTK" PJSC provides various telecom services of local and long-distance telephony, broad range of value-added services (VAS) (services of Internet, IP-telephony, ISDN, VPN, CTV and others). Total revenue of "UTK" PJSC for the year 2004 is up 24% to RUR 16.8 bln, EBITDA is up 25% to RUR 4.3 bln (RAS). Number of basic telephone sets operated by "UTK" PJSC makes 4 million units. During 2004 UTK increased its market share of local fixed- line services to 83%, value-added services – to 44%.
UTK is a subsidiary of Svyazinvest holding which owns 38% of the Company’s authorized capital. UTK shares are traded in the Classic Market of NP “RTS SE” (KUBN; KUBNP), OJSC “RTS” (KUBNG; KUBNPG)), in the stock section of the Moscow Interbank Currency Exchange (MICEX) (UTEL; UTELP). One unit of American Depositary Receipt of "UTK" PJSC represents 50 common shares of the Company. UTK ADRs are traded in the US over-the-counter market (STJSY), and quoted in the over-the counter market of Frankfort and Berlin Stock Exchanges (KUE) and NEWEX (KUE).
Additional information about the Company can be accessed on the website atwww.stcompany.ru, in the Information Disclosure System SKRIN Issuer, in KUBN_RU of the systems Bloomberg and Reuters as well as on the web-portal Rustocks.com.