Yekaterinburg – October 20, 2004.  Leading Urals-based fixed line and mobile operator Uralsvyazinform (RTS and MICEX: URSI/URSIP) hereby announces the assignment of an A+ (rus) long-term national rating. 

On October 18 Fitch Ratings adopted the decision to assign an A+ (rus) long-term national rating.  The company’s national rating reflects its creditworthiness in relation to other Russian issuers which have issued securities in the national currency in all sectors of the economy.

Fitch notes that Uralsvyazinform’s rating reflects the company’s strong business positions in the Urals territory and Western Siberiaboth in the fixed line and mobile telephone segments.  The rating agency also believes that the company has shown organic growth and its earnings forecast for profitability in 2004 and beyond is favorable.

The assignment corresponds to the long-term rating in the national currency based on the international scale. Uralsvyazinform has a long-term international rating of BB- with a stable outlook. 

More detailed information on the rating assignment can be found on the website of Fitch Ratings at:  www.fitchratings.com.