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May 16, 2003

"Southern Telecommunications Company" PJSC is awarded Gold medal of the Russian-Swiss Business Club (RSBC) for irreproachable business conduct


Decision on awarding was taken by Expert Council including representatives of the Russian Union of Industrialists and Entrepreneurs , Supreme Institute for Business and Management (Geneva), non-commercial partnership "National Credit Bureau" and international consulting company "Technomic Consultants". On May 12, 2003 the Gold medal was presented to "UTK" PJSC General Director Vladimir Gorbachev at the Gold Award Ceremony in Geneva.

Every year Expert Council selects awardees from thousands of largest Russian taxpayers. Thirty companies with a most irreproachable business conduct are selected on the basis of personal recommendations of RSBC members and the Russian Union of Industrialists and Entrepreneurs and awarded Gold medals. The main principles of the selection process for awardees are objectivity and unprejudiced evaluation of a company's goodwill and respectability. President of the Russian-Swiss Business Club Roy George Damary wrote to "UTK" PJSC General Director Vladimir Gorbachev: "In opinion of other businessmen you are the man who understands very clearly that good name is the most valuable capital in the business world. " He also noted that during the periods of financial crisis, instability and social shock mutual respect, reliability and goodwill of partners became a foundation for maintaining positions in the market and achieving success. President of the Russian Union of Industrialists and Entrepreneurs Arkadi Volski made the following comments: "Objectivity and unprejudiced approach to the selection process guarantee best of all that the awardees will be the companies having creative attitude towards business-making, optimism and strong desire to raise the Russian economy to the world standards that will make it possible to realize the most ambitious business aspirations. It is such business people that are worth presenting our country abroad. "

Gold Award "For irreproachable business conduct" gives "UTK" PJSC the right to become a member of the Russian-Swiss Business Club. It is a recommendation in a way for the Company's future activities in Switzerland and other foreign countries.





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