December 15, 2006 was the day of completion of dividend payments on preferred and ordinary shares of North-West Telecom OJSC calculated by the results of the Company’s business in 2005.

The total amount of dividends paid on North-West Telecom shares was RUR 391,925,000 (21.25% of the Company’s net profit for 2005), of which:

• RUR 159,139,000 on preferred shares,  
• RUR 232,786,000 on ordinary shares.

The decision on the dividend payment and size was approved by the General Meeting of NWT shareholders held on June 30, 2006 (see press release of 12.07.06). The total sum allocated to dividend payments for 2005 was RUR 396,717,000. The dividend on the NWT shares was distributed as follows:

• RUR 163,240,000 (RUR 0.652 per share) on preferred shares;
• RUR 233,477,000 (RUR 0.265 per share) on ordinary shares.

As of December 15, RUR 4,792,000 remained outstanding. It is the dividend of shareholders who specified incorrect, incomplete, or expired data of their bank accounts or mail address in the dividend receipt form.