15.08.2003

According to the voting results, Mr. Smirnov, Mikhail Alexeyevich was appointed General Director of PJSC Moscow City Telephone Network (MGTS).

On 15 August 2003, an extraordinary PJSC Moscow City Telephone Network General Meeting of Shareholders was held.

The appointment of the PJSC MGTS General Director was put on the agenda of the General Meeting of Shareholders in connection with Mr. Vladimir S. Lagutin transference to the position of the President of the Closed Joint Stock Company "Sistema-Telecom".

According to the voting results, Mr. Smirnov, Mikhail Alexeyevich was appointed General Director of PJSC Moscow City Telephone Network (MGTS), whose candidacy was proposed by the AFK "Sistema" Co. and recognized legally qualified by the PJSC MGTS Board of Directors on 23 July 2003.

The persons eligible to vote accounting for 89.3% out of the total number of the pollers took part in the voting on appointing the PJSC MGTS General Director. According to the poll declaration, 99.9% of the elections participants voted "FOR" Mr. M.A. Smirnov's candidacy.

The PJSC MGTS Meeting of Shareholders proceeded in the form of voting in absentia. The list of the persons entitled to take part in the extraordinary Meeting of Shareholders was compiled basing on the data of the Company's shareholders register as at 16 July 2003.

Mr. Smirnov, Mikhail Alexeyevich was born on 3 February 1950 in Moscow. In 1967, he was graduated from the Faculty of Multichannel Communication at the Moscow Electrotechnical Institute of Telecommuni-cations, and further - the Academy of the National Economy at the Council of Ministers of the USSR. Since 1967, he has been working in the telecommunications field, holding consecutively the engineering and administrative positions at the General Long Distance Communications Control Center at the USSR Ministry of Telecommunications, and, further, at various telecommunications companies. Since 1995, Mr. Smirnov has been holding the office of the President of the Closed Joint Stock Company Mobile TeleSystems, and since 1997, he has been a member of the Company's Board of Directors. Besides, he is a member of the Boards of Directors of several regional cellular communications companies and the Chairman of the Board of Directors of the Russian GSM Cellular Networks Operators Association.

Mr. M.A. Smirnov is married and has two children.
Mr. M.A. Smirnov has an abundant experience in the management of telecommunications development business as well as bringing large company into the international capital markets, and in elevating such company's rate of capitalization.

"One of the most important and urgent goals facing me presently is to bring PJSC MGTS into international capital markets. The same objective was translated into being under my management in the case of MTS, and now Mobile TeleSystems is the biggest Russian cellular operator", Mr. M.A. Smirnov accentuated.

Copyright (ñ) 2003 ÎÀÎ ÌÃÒÑ.