According to the PJSC CenterTelecom financial and economic performance results achieved for the first six months of 2003, the Company had its target figures accomplished.

The gross revenue of the Company made up RUR 9.315 billion, amounting to 123.9% as against the 2002 respective indicator.

The telecommunications sales proceeds accounted for RUR 9.164 billion.

The operational and maintenance costs constituted RUR 6.886 billion.

The sales profit is RUR 2.428 billion, which is 27% higher than that in the first half year of 2002.

The net profit increased by two times as against the same period of 2002 and made up RUR 813.2 billion.

The PJSC CenterTelecom Balance Sheet as at 31/7/2003 is presented in the corporate site www.centertelecom.ru.

01.08.2003