On September 9, 2003 the Federal Securities Board of  Russia decided to group issues of ordinary and preferred shares of  OJSC North-West Telecom and to assign uniform state registration numbers.

The resolutions were to:

• To cancel the following state registration numbers assigned to issues of registered non-documentary ordinary shares: 72-1-5986, 1-04-00119-?, 1-06-00119-?, 1-08-00119-?, 1-09-00119-?, 1-10-00119-?, 1-11-00119-?, 1-12-00119-?, 1-13-00119-?, 1-14-00119-?, and 1-15-00119-?. The uniform No. 1-02-00119-? is assigned to these issues.
• To cancel the following state registration numbers assigned to issues of Type A registered non-documentary preferred shares: 72-1-5986, 1-05-00119-?, 1-07-00119-?, 2-08-00119-?, 2-09-00119-?, 2-10-00119-?, 2-11-00119-?, 2-12-00119-?, 2-13-00119-?, 2-14-00119-?, and 2-15-00119-?. The uniform No. 2-02-00119-? is assigned to these issues.

The grouping of the issues under one registration number will simplify the procedure of re-registration of the title to securities in the security owners register keeping system. This should result in higher liquidity of the Company’s shares, and easier access to the Company’s securities for investors.  

In future, the Company is held the procedure of listing of its shares at Moscow Interbank Stock Exchange.