Open Joint Stock Company

Investment Telecommunications Company

(SVYAZINVEST)

Bldg. 2, Plyushchikha 55, Moscow, 119121;

www.svyazinvest.ru

INFORMATION DEPARTMENT

Telephone: (095) 727-04-73, facsimile: (095) 727-04-75;

pr@svyazinvest.ru

March 15, 2005                        Moscow 

Moscow– March 15, 2005 – Svyazinvest: Konstantin Belyaev comes into office as OAO Svyazinvest Deputy Director General. He will be in charge of financial and economic issues.

Svyazinvest CEO Valery Yashin had the following to say on the appointment: “Konstantin Belyaev is a gifted and highly professional manager. Valuable expertise, acquired at the post of OAO Svyazinvest chief accountant, will undoubtedly enhance the company’s financial and economic efficiency”.

Fact sheet:

Konstantin Belyaev was born on January 3, 1968, in the city of Severodvinsk.

In 1997 – graduated from the All-Russia Extra-Mural Financial and Economics Institute (Moscow), majoring in Economics.

From 1992 to 1996 – worked as an accountant, and later as deputy chief accountant at Severodvinsk OGMTS (Joint City and Intercity Telephone Exchange)

From 1996 to 2001 – deputy chief accountant, later chief accountant at OAO Artelecom of the Arkhangelsk region.

Since March, 2001 – chief accountant at OAO Svyazinvest.

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OAO Svyazinvest comprises 7 mega-regional companies: OAO CenterTelecom, OAO North-West Telecom, OAO VolgaTelecom, OAO South Telecommunications Company, OAO Uralsvyazinform, OAO Sibirtelecom, OAO Far East Telecom, national ILD and DLD telecom provider OAO Rostelecom, 4 telecom operators not involved in the merger and industry design institute Giprosvyaz. Svayzinvest companies are licensed to provide local, long-distance and international telecommunication services, as well as data transmission, Internet access, ISDN, wireless subscriber access and GSM, NMT-450, AMPS and DAMPS-standard mobile communication. The holding employs a workforce of 338,000.For more information, please view https://www.svayzinvest.ru.