??? Svyazinvest

PUBLIC RELATIONS DEPARTMENT


119121 Moscow, ul. Plyushikha, 55, str.2, tel.:(095) 248-89-68/fax (095) 248-89-61


On September 25 JSC Svyazinvest held a Board of Directors meeting at which two main issues were discussed.
The first issue concerned the holding company's financial results for the first six months of 2001. Sales revenue for the first six months of 2001 stood at RUR 42.3 bn, pre-tax profits were RUR 4.2 bn and net profit reached RUR 4.2 bn. Total numbers in service grew by over 260,000.

The second issue pertains to the ongoing merger process. All the companies taking part in the Far East merger (on September 25th 95% of the shareholders at the EGM of JSC Amursvyaz voted to merge with JSC Elektrosvyaz of the Primorsky krai) have held their EGMs. It was noted that the merger is proceeding according to plan and within the pre-established time limit. The BoD acknowledged the information provided on both issues.