Krasnodar, 15 March 2006:  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, reports that on 15 March 2006 its top management met in the Krasnodar central office with the representatives of MDM BANK telecommunications sector.

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 communications with the investment community, enhancement of the business profile and appreciation of its share capital.

???-BANK’s credit ratings are the highest among Russia private banks — Standard and Poor’s (B + positive), Fitch Ratings (BB-), Moody’s Investor Service (Ba2). It is the only Russian financial company having Standard and Poor’s public corporate governance score of 6.0.

"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: