Moscow, March 10, 2005. On March 5, 2005 CenterTelecom Board of Directors considered the candidates for the Board of Directors and the Audit Committee to be voted at the Annual Shareholders Meeting. 25 candidates have been put forward for 11 positions in the Board of Directors, and 8 candidates - for 7 positions in the Audit Committee of the Company. The Board of Directors recognized competent candidates proposed by the following Company's shareholders:

• Svyazinvest (50.688% of voting shares)
• The Russian Fund of Federal Property (9.592 % of voting shares)
• Lindsell Enterprises Limited (2.084 % of voting shares)
• ABN AMRO Bank A.O. JSC, acting on behalf of Lancrenan Investments Limited, Protsvetanie Holdings Limited, Medvezhonok Holdings Limited, Lorca Holding Limited (in aggregate owning 3.393 % of voting shares)
• Brunswick UBS Nominees JSC, acting on behalf of Red Hand Investments Limited (2.367 % of voting shares)
• Lider JSC (signed a contract on trusting management with Gazfond commercial pension fund), Interfin Trade Financial Company, Interfin CAPITAL Managing Company and the following individuals Statyin V.A., Korolkov V.F., Korolkova L.P., Korolkov I.V., Kleshchev A.G., Belova T.V., Shevnev V.N. (in aggregate owning 2.433 % of voting shares)
• PROMSVYAZ Managing Company, PROMSVYAZINVEST, KAPRIZ-STELL, Dohodnaya Investitsionnaya Kompaniya (Profitable Investment Company) (in aggregate owning 2.288 % of voting shares).

The following candidates were proposed to be voted for CenterTelecom Board of Directors:

• Avdiyants Stanislav Petrosovich - Executive Director - the Director of Svyazinvest Economic and Tariff Policy Department. He isn't a Company's shareholder.
• Amaryan Ruben Andronikovich - CenterTelecom General Director. He is a Company's shareholder.
• Antonyuk Boris Dmitrievich, Deputy Minister of Information Technologies and Communications of the Russian Federation. He isn't a Company's shareholder.
• Beskorovainy Andrey Vladimirovich - Deputy Head of the Federal Communications Agency. He isn't a Company's shareholder.
• Branis Aleksander Markovich - the Director of Prosperity Capital Management company. He isn't a Company's shareholder.
• Vartanyan Stanislav Grachevich - the Executive Director of the Investors Rights Protection Association. He isn't a Company's shareholder.
• Gavrilenko Anatoly Anatolyevich - the General Director of Lider (signed a contract on trusting management with Gazfond). He isn't a Company's shareholder.
• Gribov Aleksander Pavlovich - the Deputy Head of the Russian Fund of Federal Property Department. He isn't a Company's shareholder.
• Degtyarev Valery Viktorovich - the General Director of Professionalnye Telekommunikatsii (Professional Telecommunications). He isn't a Company's shareholder.
• Deryabin Ivan Valentinovich - the First Deputy General Director of Interfin Trade Financial Company. He isn't a Company's shareholder.
• Ikonnikov Aleksander Vyacheslavovich - the Chairman of Board of Independent Directors Association. He isn't a Company's shareholder.
• Karpentsev Aleksey Olegovich - the General Director of Interfin Trade Financial Company. He isn't a Company's shareholder.
• Kiselev Aleksander Nikolaevich - Assistant to the Minister of Information Technologies and Communications of the Russian Federation. He isn't a Company's shareholder.
• Korolkov Vladimir Fedorovich - an entrepreneur. He is a Company's shareholder.
• Kuznetsov Sergey Ivanovich - Svyazinvest First Deputy General Director. He isn't a Company's shareholder.
• Lokhtin Vladimir Ivanovich - Executive Director - the Director of Svyazinvest Investments Management Department. He isn't a Company's shareholder.
• Mazalov Ivan Nikolaevich - the Director of Prosperity Capital Management company. He isn't a Company's shareholder.
• Milovantsev Dmitry Aleksandrovich - the Deputy Minister of Information Technologies and Communications of the Russian Federation. He isn't a Company's shareholder.
• Panteleev Aleksey Borisovich - the Vice-Governor of the Moscow region. He isn't a Company's shareholder.
• Statyin Vladimir Anatolyevich - General Director of Association on Protection of Enterprises and Organizations Shareholders Interests (OPIAK) non-commercial partnership. He is a Company's shareholder.
• Filippova Nadezhda Valentinovna - Executive Director - the Director of Svyazinvest HR Management Department. She isn't a Company's shareholder.
• Finger Grigory Moiseevich - Executive Director of NCH Advisors., Inc. Moscow representative office. He isn't a Company's shareholder.
• Khandruev Aleksander Andreevich - the first vice-president of the Association of Regional Banks of Russia. He isn't a Company's shareholder.
• Chechelnitsky Evgeny Aleksandrovich - Deputy Head of the Federal Commission for Radio Frequencies. He isn't a Company's shareholder.
• Yashin Valery Nikolaevich - Svyazinvest General Director. He is a Company's shareholder.

The following candidacies were proposed for the voting for CenterTelecom Audit Committee:

• Belyaev Konstantin Vladimirovich - Svyazinvest Chief Accountant. He isn't a Company's shareholder.
• Bocharova Svetlana Nikolaevna - the Head of Svyazinvest Accounting Department. She isn't a Company's shareholder.
• Buryanova Lyudmila Vasilyevna - the First Deputy Chief Accountant - the Director of CenterTelecom Taxation and Corporate Accounting and Reporting Department. She isn't a Company's shareholder.
• Veremyanina Valentina Fedorovna - the Head of Svyazinvest Law Department. She isn't a Company's shareholder.
• Murashkin Yaroslav Yuryevich - the Chief Expert of Svyazinvest Economic Planning and Budgeting Department. He isn't a Company's shareholder.
• Petrova Oksana Valeryevna - the Deputy Head of Svyazinvest Corporate Management Department. She isn't a Company's shareholder.
• Ponomarev Ilya Vladimirovich - the Head of Svyazinvest of Economic Planning and Budgeting Department. He isn't a Company's shareholder.
• Sinadskaya Svetlana Pavlovna - the Head of Svyazinvest Economic and Tariff Policy Department. She isn't a Company's shareholder.

The Board of Directors also put on the agenda of the Annual Shareholders Meeting the following issues falling under the jurisdiction of the General Meeting due to the Company's Charter:

• Approval of the annual report, annual accounts, including the Company's P&L as well as the distribution of profits, including dividends payment (announcement) and losses by 2004 results.
• Approval of the Company's auditor for 2005.
• Amendments to the Company's Charter.
• Amendments to the Regulations on Company's General Shareholders Meeting.

For more information please contact:

Director of Securities and Corporate Management Department
Elena Romskaya
+7(095)793-23-19
E-mail: esidorovich@centertelecom.ru

Head of Investors Relations Department
Andrey Kalinchenko
+7(095)793-23-40
E-mail: kalin@centertelecom.ru

Director of Information Policy Department
Yana Lavrentyeva
+7(095)793-24-86
E-mail: pr@centertelecom.ru
www.centertelecom.ru

CenterTelecom is a leading fixed telecommunications company providing a wide range of telecom services in the Central Federal District, where over 20% of the population of Russia resides. CenterTelecom offers the full range of telecommunication services, including fixed telephony, Internet, IP-telephony, data transmission, cable TV, wired and VHF broadcasting. The company actively develops modern multiservice and SDH networks as well as new WLL systems. The Company trades on RTS (ESMO, ESMOP), Moscow Interbank Currency Exchange (CTEL, CTELP) and has ADR Level 1 common stock program (CRMUY).