Based on the Center Telecom’s 1H 2003 results, the company achieved its financial targets.

Gross revenue amounted to Rub 9.3 billion, which represents a 123.9% increase compared with 2002.

Revenue derived from sale of telecom services stood at Rub 9.2 billion.

Operating expenses reached Rub 2.4 billion, which is 27% higher than during the first six months of 2002.

Net profit doubled year-on-year and stood at 813.2 million rubles.