On 3 July 2003, PJSC CenterTelecom took a decision to appoint the ABN AMRO Bank Councilor for International Rating Agencies, which is necessary to make arrangements for raising the Company's current international credit rating and obtaining the second one. Availability of two ratings is customary to companies operating within developing markets. The receipt by PJSC CenterTelecom of the second rating will enlarge its capabilities to gain access to capital markets.

The Company is presently having the international credit rating Standard&Poor's ???+the "Stable" forecast.

04.07.2003