As of the Y 2003 results, the company will spend RUR 290.5 million or 15% of its Net Income to pay dividends.

As of Y 2002, the company paid the common dividend of RUR 0.68 per share and preferred of RUR 7.055171 per share. The total amount paid equaled RUR 166 million 926 thousand.

MGTS authorized capital totals RUR 3 831 802 000 and is split into 79 829 200 (83.33%) common shares and 15 965 850 (16.67%) preferred shares of RUR 40 par. MGTS major shareholders are AFK Sistema (46.35%), and Svyazinvest (23.33%). As of April 1, 2004, the total number of shareholders was 9 429.

The schedule displays the ownership of MGTS largest common shareholders as of 01.04.2004:

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PJSC Moscow City Telephone Network is one of the biggest not only in Russia, but among the local wire telecommunications companies in Europe too. The Company's continual priority task is to provide quality telephone communication accessible to the millions of the Russia's capital-city inhabitants. The MGTS personnel of 20 000 persons supply services to about 4.2 million subscribers. The telephone density in Moscow conforms to the European standards - over 50 MGTS telephones per 100 metropolitan residents. There are about 600 MGTS telephone exchanges in operation, and their number increases year by. There are presently 18 000 pay stations available at the Company's public payphone network. To date, the MGTS share amounts to 80% in the Moscow fixed telecommunications market. The dynamic development of the Company is noted for its stable economic situation, prescheduled on-going income growth rate, and for the amount of provided services on the upgrade. The Central Office of PJSC MGTS is located in Moscow at 12, bdg. 3, Petrovskiy Boulevard, Moscow, Russia. The Company's Internet address is www.mgts.ru.

For further details, please approach the Department of Information and Public Relations - PJSC MGTS.
Tel: +7 (095) 950 0623, fax: +7 (095) 950 0622,
E-mail: pressa@mgts.ru