Open joint stock company Southern Telecommunications Company hereby reports that in accordance with Federal Securities Commission Resolution No. 1819/r dated December 24, 2002 OJSC Southern Telecommunications Company is authorized to circulate common non-document registered shares of said company outside the Russian Federation in the form of foreign securities issued in accordance with international law, and which certify the rights to common registered non-document shares of OJSC Southern Telecommunications Company.

State registration numbers of the aforementioned share issues are as follows: 1-04-00062-???27.12.2001?., 1-05-00062-?, 1-06-00062-?, 1-07-00062-?, 1-08-00062-?, 1-09-00062-?, 1-10-00062-?, 1-11-00062-?, 1-12-00062,-?1-13-00062-???15.08.2002?.

The number of shares authorized for issue outside the border of the Russian Federation is 2,102,078,765.  The nominal value of each share is rub 0.33.  The total number of shares issued for circulation outside the Russian Federation (based on nominal value) is rub 693 685 992.45.