Starting from 26th February 2008 the third and fourth issue bonds of OJSC North-West Telecom

have been included in the Quoting List A of the First Level of the Moscow Interbank Currency Exchange (MICEX). The bonds have been included upon application of the issuer due to the fact that the bonds of OJSC N.W.Telecom meet the requirement s of the stock exchange's highest level of listing.

Until now OJSC N.W. Telecom's bonds have been traded in the category of non-listed securities of MICEX. The decision to include OJSC N.W. Telecom's bonds in the Quoting List A of the First Level of MICEX has been a result of Company's consistent efforts in implementing the strategy of capitalization improvement and securities market development, among other things, inclusion of all securities, both of the corporate and debt categories, in the stock exchanges' highest levels of listing. This will make it possible to expand the circle of potential OJSC N.W. Telecom's investors using resources of pension funds and management and insurance companies, which, in its turn, will result in increasing liquidity and decreasing volatility of Company's securities.

Common and preferred shares of OJSC N.W.Telecom were included in the Quoting List A of the First Level of MICEX earlier (in May 2006 and August 2007 respectively).

Brief information on the issues:

Series 03 documentary interest-bearing bonds payable to bearer, with obligatory centralized care (state registration No. 4-03-00119-A of 28.12.2004) floated at the MICEX stock exchange on the 3rd of March 2005. The volume of the issue was 3,000,000,000 roubles, 3 million bonds with the face value of 1,000   roubles, circulation period of 6 years and with the right of early presentation of the bonds for redemption on 6.03.2008.The coupon yield under the bonds is to be paid on a quarterly basis.

Series 04 documentary interest-bearing bonds payable to bearer, with obligatory centralized care (state registration No. 4-04-00119-A of 31.10.2006) floated at the MICEX stock exchange on the 14th of December 2006. The volume of the issue is 2 billion roubles, 2 million bonds with the face value of 1,000 roubles. Circulation period is 5 years, with the option of early redemption on 11.12.2008 at OJSC N.W. Telecom's discretion. The coupon yield under the bonds is to be paid on a quarterly basis .  

Starting from 15th October 2007, the third and fourth issue bonds of OJSC N.W.Telecom have been included in the Lombard List of the Bank of Russia (see information message of 15.10.2007).