On September 30, 2002 the Company accomplished the stage of formal reorganization of telecoms within Urals region. 6 regional operators – OAO Svyazinform of Chelyabinsk region, OAO Uraltelecom, OAO Tyumentelecom, OAO Khantymansyiskokrtelecom, OAO Yamalelectrosvyaz, OAO Electrosvyaz of Kurgan region – merged with the “hub” company Uralsvyazinform of Perm region.

On December 17, 2002 the first General Meeting of Shareholders of the consolidated Urals telecoms company OAO Uralsvyazinform took place. Shareholders nominated General Director of OAO Uralsvyazinform (acting General Director of the Company – Vladimir Rybakin). There was also elected new Board of Directors, Audit Commission. The Meeting validated new editions of internal documents as well – the Charter, Procedure of General Meetings of Shareholders, Provision on the Board of Directors, Provision on the Managing Board.

2002 Preliminary Statement of Consolidated Uralsvyazinform are submitted in accordance with Russian Accounting Standards. Final audited report on Consolidated Company in compliance with Russian Accounting Standards will be available in April, 2003, IAS Statement – in June, 2003.

Uralsvyazinform’s revenues as of 2002 are estimated to be RUR 14,6 bln., indicating an increase of 37 % compared to FY 2001.

The revenue growth was mainly due to the rising revenues from mobile services (+ RUR 665 ml. /+ 91,0 %/ as compared to the year 2001), local telephony (+RUR 1,3 bln. /+47,8%) and new telecommunication services (+RUR 277,3 ml. / +285,0%) read on (pdf) .