Moscow, February 25, 2005. CenterTelecom (RTS: ESMO, ESMOP; ESMOG, ESMOPG; OTC: CRMUY) informs that on February 25, 2005, after trading was suspended due to conversion of the previously placed CenterTelecom stock into the stock of the same category (type) with greater par value, the trading of common registered and preferred registered Type A CenterTelecom stock was resumed at RTS stock exchange market and classic market.

The trading started with stock growth by 35% on average relative to their prices on January 13, 2005, the last day of trading before the conversion took place.

On February 22, 2005 the Federal Service for Financial Markets registered the reports about the results of CenterTelecom securities issue.

The securities issue took place in accordance with the resolution to increase the company's additional equity by increasing the stock par value from RUR 0.3 to RUR 3.0 each passed at CenterTelecom general annual meeting on June 11, 2004.

1 578 006 833 common shares were issued for the total volume of RUR 4 734 020 499. The issue was assigned state registration number 1-04-00194-A registered on December 16, 2004.

525 992 822 preferred shares were issued for the total volume of RUR 1 577 978 466. The issue was assigned state registration number 2-04-00194-A registered on December 16, 2004.

For further information please contact:

Securities and Corporate Governance Department Director
Elena Romskaya
+7 (095) 793-2319
E-mail: esidorovich@centertelecom.ru

The Head of Investors Relations Department
Andrei Kalinchenko
+7 (095) 793-2340
E-mail: kalin@centertelecom.ru

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

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