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Moscow City Telephone	April 29, 2002
Open Joint-Stock Company "Moscow City Telephone Network" (OJSC MGTS) determined the rate of the second coupon of the documentary coupon bearer bonds of the second issue, A2 series, (state registration number 4-02-000830-A) in the amount of 20.5% per annum Share

The value of the second coupon will be One Hundred and Two rubles and Seventy-Eight kopecks (102 rubles 78 kopecks) per bond. The second coupon repayment date is 13 November 2002. According to the Prospectus, the repayment term of the bonds of the second issue is fixed for the One Thousand Ninety-Fifth (1095th) day from the date of their placement, i.e. 12 November 2004. The issue total par value is One Billion (1 000 000 000) rubles.