Krasnodar, May 15, 2007 – Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, announces that it has terminated its participation in LLC TO “Aksent” effective 14th May 2007, selling its 51%-stake in the share capital of LLC “Aksent”. This decision of the Board of Directors of "UTK" PJSC was taken in the context of the Company’s policy on reorganization of its non-core businesses.