On April 04, 2007 ACB Sviaz-Bank, acting as payment agent for the Series 02 bonds of North-West Telecom JSC, executed the redemption 30% of the bonds’ par value of the second issue of bonds of North-West Telecom JSC.

Bonds of the second issue of OJSC NWT has been floated at MICEX (Moscow Interbank Currency Exchange) on 8th October 2003 and includes 1.5 million  four-year securities with the face value of RUR1,000. The state registration No. is 4-02-00119-A.

In accordance with the Issue Resolution, bond redemption in three installments was approved:

• 30% of the bonds’ par value on the 1092nd day from the start of bond placement,
• 30% of the bonds’ par value on the 1274th day from the start of bond placement,
• 40% of the par value on the 1456th day from the start of bond placement.

The second part was redeemed within the approved date on the 1274th day from the start of bond placement .

The total sum allocated to redemption of the second 30% of the bonds’ par value was RUR 450 million. The redemption realizing simultaneously with the 14th coupon payment.

The redemption of 30% of principal debt indicates full and timely meeting by North-West Telecom of its liabilities not only in terms of current debt service but also in terms of repayment of invested amounts, and describes the company as a reliable and responsible borrower.