Krasnodar, 31st January 2007:Southern Telecommunications Company (“UTK”) [(RTS: KUBN, KUBNP; ?ICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)],the principal telecommunications provider for Russia’s Southern Federal District, reports that on 29th January 2007 the Company summed up the results of an open contest for nomination of a financial consultant, an arranger of the bond issue and placement and a payment agent of UTK’s series 05 bonded loan, the issue of which is scheduled for the second quarter of 2007.
As regards the first nomination, the Contest Commission recommended "UTK" PJSC to conclude an agreement with the only one participant of the contest ZAO “Russ\kiy Industrialny Bank” (Russian Industrial Bank).
As regards the second nomination for an arranger of the bond issue and placement and a payment agent, the Contest Commission examined and estimated the submitted proposals and declared OJSC AKB “Svyazbank” as a winner of the contest.
You can familiarize yourself with the protocols of the contest here.
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