Krasnodar, June 08, 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, reported today that its top management met in the Krasnodar central office with the Board members of the Investment Management Fund “JP Morgan Fleming Asset Management” and the representatives of the Investment Group ING of which the Fund was a client.

The Management of "Southern Telecommunications Company" PJSC made a presentation of the Company’s performance results and strategy, discussed the Company’s business including development of new value-added services. The Management holds such meetings on a regular basis thus contributing to  improvements in the Company’s goodwill, appreciation of its share capital and popularization of UTK in the investment community. 

JP Morgan is one of the largest financial companies in the world providing superior service quality and flexible investor solutions for clients in the investment banking, asset management and pension fund industries. The Investment Fund “JP Morgan Fleming Asset Management” has client assets under management totaling over 2 billion euro invested in securities (mainly shares) of many companies in Russia, CIS and Eastern Europe countries.

"UTK" PJSC is always open to new contacts and ready to meet with shareholders and investors. We would be glad to receive your proposal on holding a meeting to discuss performance results and development prospects of the Company. Please, contact IR Team of "UTK" PJSC:

For any further information please contact:

UTK IR Team

phone + 7 861 253 20 30, fax + 7 861 253 19 69, e-mail: pmaleev@mail.stcompany.ru

UTK PR Team

phone + 7 861 259 56 99, fax + 7 861 259 56 99, e-mail: dali@mail.stcompany.ru