Krasnodar, April 27, 2006– Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; OTC USA: STJSY), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reports thaton 27 April 2006 the Company’s Board of Directors adopted the resolutions (Minutes ? 34 of 28 April 2006):

— to hold Annual General Shareholders' Meeting of Public Joint –Stock Company "Southern Telecommunications Company” in the form of joint personal presence of shareholders on June 27, 2006 at the venue: 66, Karasunskaya Street, Krasnodar. The AGM will open at 11:00 a.m., Moscow time;  registration of the shareholders will start at 9:00 a.m., Moscow time;

— to set 11 May 2006 as the cut-off date for making up a list of shareholders entitled to participate in UTK’s Annual General Shareholders' Meeting and to receive 2005 dividend.

-  to determine the following mailing address at which the shareholders can send their filled voting instruction cards: 66, Karasunskaya street, Krasnodar, 350000