Moscow, February 22, 2005. Fitch Ratings international rating agency gave CenterTelecom BB(rus) ("Stable") national rating. Fitch also rated BB(rus) ("Stable") CenterTelecom bonds issues worth RUR600 million, RUR2 billion and RUR5 622 595 000 maturing in 2005, 2006 and 2009, respectively.

Fitch Ratings agency believes that CenterTelecom is subject to the risks linked with the realization of its intermediate-term business plans. The agency has accounted for the higher level of CenterTelecom liabilities in comparison with other Russian telecommunication companies.

Fitch Ratings agency points out that the ratings reflect the dominating influence of the majority shareholder, Svyazinvest, on the process of the company's strategic decision-making and CenterTelecom's leading position in the wireline communications market in the Central Federal District of Russia covered by the company. Being an incumbent operator, the company operates a PSTN and has such strategic advantages as a significant territorial network coverage and extensive client base.

For more information on CenterTelecom rating please visit Fitch Ratings site.
Contacts:  Elena Romskaya ??l: +7 095 793 23 19
E-mail: esidorovich@centertelecom.ru 
Andrei Kalinchenko ??l: +7 095 209 5721
E-mail: kalin@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).

Copyright © 2004 Joint-Stock Central Telecommunication Company