On November 28, 2003 Federal Commission on Securities' Market of Russia registered non-convertible interest-bearing documentary payable to bearer "UTK" PJSC bonds of 02 series with compulsory centralized deposit of the state registration of the issue 4-05-00062-A. Three-years duration period bond issue amounting to RUR 1.5 bln with a par value of 1000 rubles is planned to place by public subscription in the MICEX Stock market section in 1Q2004. The obtained capital will be allocated to fund "UTK" PJSC 2004 Investment Program supposed further construction and extension of the Company's communication network. OJSC "Rosbank" is assigned as a Manager, an Underwriter and a Payment Agent of series 02 bonds. OJSC "Investment Company "AVK" is assigned as a Financial Consultant.
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