On 13th December 2005 reorganization of OJSC North-West Telecom's registrar – CJSC Registrator-Svyaz – was completed through affiliation with the Moscow registrar, OJSC Obyedinyonnaya Registratsionnaya Kompaniya (United Registration Company) (OJSC ORK). From the moment of the affiliation, al rights and obligations of CJSC Registrator-Svyaz in respect of OJSC North-West Telecom and its shareholders have passed to OJSC ORK by universal succession.

The trend of registrars enlargement now existing in various regions of Russia has been caused by stricter requirements of the Federal Service for Financial Markets (FSFR) of Russia for the licensing of this business in the securities market. Affiliation of CJSC Registrator-Svyaz with OJSC ORK that took place on the background of the general trend will make it possible for the latter both to become a more stable and competitive enterprise and to expand the network of transfer agents and branches.  All this is aimed at improving the efficiency of registrar's operation, servicing quality and creating new guarantees of protecting the rights and interests of the shareholders. Besides, the enlargement of the registrar will have a good effect on the infrastructure of the stock market and, as a consequences, the issuers' securities liquidity.

OJSC ORK has been dealing with keeping registers of securities holders since 1996 (license of the Federal Commission for the Securities Market  (FKCB) of Russia No. 10-000-1-00314 dated 30.03.2004) and is a member of the Professional Association of Transfer Agent Registrars and Depositaries (PARTAD).  OJSC ORK is among the major registrar companies of Russia. Before reorganization, the company provided services to over 580 issuers in 35 regions of the Russian Federation, including 4 insurance companies, 5 banks, joint-stock companies of in fact all industries and areas of the agroindustrial complex, enterprises of the federal and regional groups, among them OJSC Cherkizovsky Meat-Processing Factory, OJSC Biryulyovsky Meat-Processing Works,  OJSC Moscow Sergo Orjonikidze Machine-Tool Plant and OJSC AKB Zoloto – Platina – Bank. You can get more detailed information on OJSC ORK and get familiarized with the Rules of Keeping a Register of Securities Holders, including the new rates for shareholders, on the Internet site  www.ork-reestr.ru   

Reception of OJSC NWT's shareholders will not be suspended and will be held from the moment of reorganization at the following addresses:

Address	Registrar/unit/ transer agent	Contact telephone
3rd floor, 3rd entrance, house 15A, ul. Kalanchevskaya, Moscow	OJSC Obyedinyonnaya Registratsionnaya Kompaniya (United Registration Company)  (OJSC ORK)	(495) 504-28-86
Office 20, letter A, house 16, ul. Novgorodskaya, St. Petersburg	ORK ST. PETERSBURG Branch	(812) 274-40-27 (812) 274-42-69
House 26, 1-ya Krasnoarmeyskaya ul., St. Petersburg	transer agent LLC Severo-Zapadnaya Finansovaya Kompaniya (Northwestern Finance Company)	(812) 333-25-18

and at other branches of OJSC ORK.