On 21 March 2003, the "Standar & Poor's" international rating agency awarded PJSC CenterTelecom the corporate management rating at CMR-5.3 level (according to the 10-point scale).

The total rating of the Company was computed basing on the points per individual components evaluated according to 1-to-10 points' scale.
- the property structure and shareholder influence - 5.5 points.
- financial rights of major shareholders and relationship with them - 6.5 points.
- financial transparency and information disclosure - 4.7 points.
- the structure of the Board of Directors and its work practice - 4.5 points.

PJSC CenterTelecom continues to work actively for improving its corporate management activities: betterment of the Company's management structure; setting up a highly skilled management team; the Company's Corporate Behavior Code is being elaborated; new program is worked out for maintaining contact with investors.

Special attention is given to the PJSC CenetrTelecom financial transparency and information openness. Work is being done for creating a new corporate web site in the Russian and English languages.

The PJSC CenterTelecom top-leaders express the confidence that all measures towards creating a corporate management system conforming to international standards will be appropriately reflected in raising the Company's investment appeal.

21.03.2003