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February 7, 2007

UTK pays the 6th coupon and redeems its series 02 bond issue

Krasnodar, 7th February 2007: Southern Telecommunications Company (“UTK”) [(RTS: KUBN, KUBNP; ?ICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the principal telecommunications provider for Russia’s Southern Federal District, announces that on 7th February 2007 the Company  repaid in full par value of its series-02 bond issue (UTK-02?b., ISIN RU000A0AUU?0) for a total of Rub 1,500,000,000 (one billion five hundred million rubles).

At the same time the Company paid in full the sixth coupon yield at 10.5% interest rate on all bonds for a total of Rub 78,540,000 (seventy eight million five hundred and forty thousand rubles) or Rub 52.36 (fifty two rubles thirty six kopecks) per each bond. The interest rate was determined by the Board of Directors of "Southern Telecommunications Company" PJSC  (Minutes # 23 dated January 20, 2006). 

The list of persons eligible to receive coupon income was compiled as of January 26, 2007.

The payment agent for UTK’s series-02 issue is Joint –Stock Bank “Rosbank”.

Information about the bond issue:
The issue of UTK 02-series non-convertible interest bearing documentary pay-to-bearer bonds is for a total of Rub 1,5 billion. The bonds are payable in three years (1,092 days), with a half-year coupon period (182 days). The issue provides for 2 call options. The interest rate for coupons 1-2 was set at 9.25% during the placement (February 11, 2004 on MICEX). The interest rate for the third and fourth coupons stood at 12% per annum. The rate for coupons 5-6 was fixed at 10.5%. The bond issue was registered with the state registration authority under entry 4-06-00062-A as of November 28, 2003. The issue trade codes are UTK-02ob., ISIN RU000A0UUTO. OAO AKB Rosbank acts as the arranger, underwriter and Payment agent of UTK 02-series bond issue. Co– underwriters of the bond issue are Alfa-bank, Bank of Moscow, Bank "Zenit", MDM-Bank, Bank Ingosstrakh-Soyuz, Veb-Invest Bank, Gazprombank, Moskommertsbank. Financial consultant of the issue is AVK Investment company. Surety is provided by LLC “UTK-Finance”. You can familiarize yourself with additional information on the bond issue here.




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