Trade in the 3rd issue of the OJSC North-West Telecom bonds started at the Stock Exchange of the Moscow Interbank Currency Exchange on 20th April. The relevant decision was made by the Exchange Board. At present, the 2nd issue of the NWT bonds as well as ordinary and preference shares in the company are traded at the Moscow Interbank Currency Exchange. Thus, all of the NWT securities are currently listed.

Bonds series 03 of OJSC NWT were placed at the Stock Exchange of the Moscow Interbank Currency Exchange on March 3, 2005. The issue with the nominal volume of RUR 2.5 billion was issued during the day with the demand of RUR 7.4 billion.

The 1st coupon rate is 9.25% per annum. For coupons 2 to 12, the rate is equal to the 1st coupon rate. On expiration of 3 years’ period the issuer will decide on the coupon rates for the subsequent three years. The coupon income on bonds is paid on the quarterly basis. The maturity period of the OJSC NWT is 6 years with the right of early presentation of bonds for redemption in 3 years. The 3rd issue of bonds is to be redeemed in stages at the following dates: on the 1820th day from the placement commencement day, 30% of the nominal value, on the 2184th day, 40% of the nominal value of bonds.

The organizer of the issue is Web-Invest Bank, its co-organizer is joint-stock commercial bank Svyaz-Bank, the co-underwriters are Vneshtorgbank, Gazprombank, Promsvyazbank, SOYUZ Bank, Bank of Moscow, All-Russian Bank for the Development of Regions, Evrofinance-Mosnarbank, CentroCredit Bank, Raiffeisenbank Austria, International Moscow Bank, Russian International Bank, ING Bank (Eurasia), Industry and Construction Bank, NOMOS Bank, FK URALSIB, BK REGION.