In accordance with decisions of the Board of Directors’ Strategic Development and Audit Committees, JSC NWT plans to issue the fourth bond loan for a total of RUR 2.0 billion in the 4th quarter of 2006.

The loan proceeds are to be used for refinancing the existing indebtedness and financing the investment program of the Company.

Events for selecting the issue organizers were held as part of preparations for the issue. The winners of the closed tender – ING Bank (Eurasia) ZAO and OJSC Joint-Stock Commercial Bank “Svyaz-Bank” – were assigned the status of Co-Organizers of the 4th bond issue of JSC NWT.

Basic preliminary parameters of the issue:

Name of securities: Coupon documentary non-convertible bearer bonds with mandatory centralized storage;

Volume of the issue: RUR 2 billion;

Par value of one bond: RUR 1000;

Maturity period: 5 years;

Interest rate: determined on the contest basis for the whole maturity period at the time of placement;

Type of placement: open subscription;

Trade organizer: CJSC “Stock Exchange “Moscow International Currency Exchange.