Ekaterinburg – January 31, 2008 – Uralsvyazinform (RTS: URSI/URSIP, ADR: UVYZY/ UVYZYP), the leading carrier of fixed-line and mobile services in the Urals region, Russia reports its plan to place 08 series bond issue worth RUR 2.0 billion.

On January 29, 2008, the Board of Directors approved its decision to place 08-series bond issue worth 2,000,000,000 (two billion) rubles.

The issue has the following parameters: Documentary interest-bearing non-convertible bearer bonds of 08 series with mandatory centralized custody
Number of bonds in the issue: 2,000,000 (two million);
Nominal value: 1,000 (one thousand) rubles;
Total volume: 2,000,000,000 (two billion) rubles;

According to the issue documentation, the bonds are redeemed in parts in the following terms:
On the 1638th day since bond placement in the amount of 50% of each bond’s par;
On the 1820th day since bond placement in the amount of 50% of each bond’s par.

The issue will be placed at Moscow Interbank Currency Exchange (MICEX).
Placement method: open subscription.

Lead manager – OAO AKB “Svyaz-Bank”. Financial advisor – ZAO “BFA”.

The raised money will be used to re-finance the existing credit portfolio and finance the investment program.

For additional information, please contact IR department on tel. (007 343) 379-12-19, 379 1859 or e-mail: investor@gd.usi.ru.
The most recent company information is also available at www.usi.ru, www.skrin.ru (complex disclosure information system) or URSI_RU page in Bloomberg system and URSI.RTS page in Reuters system.