Far East Telecom (Dalsvyaz) is scheduled to hold its regular board of directors meeting  on April 29, 2003.  The main issues up for discussion will be as follows: setting the date, agenda and venue for the annual general shareholders meeting, and consideration of other issues which are associated with preparation of the annual meeting.

The company's annual financial statement has been submitted to the board of directors for  preliminary approval, along with the accounting reports and a proposal of 2002 profit distribution.

In addition, the board of directors will determine the cut-off date for the list of individuals eligible to attend the shareholders meeting and will make a recommendation on the amount of dividend to be paid out for 2002 results.