Sistema Telecom is an affiliate company of Sistema Financial Corporation (AFK Sistema) in charge of AFK's telecommunications assets management. Moscow City Telephone Network is a member of Sistema Telecom group.

Moscow City Telephone Network's major shareholders are AFK Sistema (46.35%), and Svyazinvest (23.33%).

The major holders of Moscow City Telephone Network voting shares as of 01.04 2004 are provided in the following schedule:

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Moscow City Telephone Network is a major local wired communications network in Russia and Europe. The company's mission is to provide quality affordable telephone communication services to Moscow citizens. The company's 20 000 staff services about 4.2 million subscribers. The telephone density in Moscow corresponds to the European level with over 50 Moscow City Telephone Network's lines per 100 Moscow citizens. The network runs about 600 exchanges, and their number is growing every year. The company's payphone network currently counts with over 18 000 phones, with MGTS share in Moscow fixed communications market totaling about 80%. The company has a stable economic position and is developing dynamically. MGTS head office is located at the following address: Moscow, Petrovski blvd, 12, building 3. Website: www.mgts.ru.

For additional information please contact Moscow City Telephone Network PR Department:
Ph.: +7 (095) 950 0623, Fax: +7 (095) 950 0622
E-mail: pressa@mgts.ru