The Board of Directors of Siberia Telecom, which was held in absentia on April 30, 2003, confirmed the agenda of the annual shareholders meeting which is scheduled to take place on June 18, 2003.  The agenda consists of the following items:

Approval of the annual report, the annual accounting reports, including the profit and loss report (profit & loss accounts) of the Company, and the allocation of profits and losses based on Siberia Telecom's 2002 financial statement; the allocation of 2002 dividends, the forms and deadlines for payment of shares based on all categories of shares, election of members of the Board of Directors of the company, election of members of the Audit Committee of the company, nomination of the company's 2003 auditor, approval of the new procedure for holding the company's general shareholders' meeting, and determining the amount of compensation payable to members of the company's Board of Directors.

The cut-off date for the list of individuals eligible to attend the annual general shareholders' meeting was April 30, 2003.

Siberia Telecom's 2002 sales revenues amounted to Rub 12.2 billion, which is up 27.2% on 2001 (Rub 9.6 billion).  Pre-tax profit stood at Rub 916 million and net profit for the reporting period was Rub 474 million.