On December 7, 2006, the CBonds Awards ceremony was held within the framework of the Russian Bond Congress. North-West Telecom won the 3rd award in the “Top Information-Transparent Issuers on the 2006 Bonds Market” nomination. The awarding was based on the cbonds.info website users poll results.

This recognition of NWT’s achievements in the bond market information disclosure quality proves the Company’s high transparency level, and indicates a high appraisal of the communication strategy implemented by NWT.

Says Ella Tomilina, NWT Associate General Manager (Corporate Relations): “A company’s information openness is a major principle of stock market operations, and compliance with this principle is the basic guarantee of investors’ rights protection. Today, the transparency and reputation of a company and its top management are acquiring a role as important as its financial stability and efficiency in its business valuation. North-West Telecom intends to continue its policy of skilled and fast-response information disclosure, as required by the market and with regard to the currents practice of international standards of interaction with the investing community.”