December 15, 2007 was the day of completion of dividend payments on preferred and ordinary shares of North-West Telecom OJSC calculated by the results of the Company’s business in 2006.

The total amount of dividends paid on North-West Telecom shares was RUR 525,484,000 (21.7% of the Company’s net profit for 2006), of which:

• RUR 211,680,000 on preferred shares,  
• RUR 313,804,000 on ordinary shares.

The decision on the dividend payment and size was approved by the General Meeting of NWT shareholders held on June 22, 2007(see press release of 22.06.07). The total sum allocated to dividend payments for 2006 was RUR 529,350,000. The dividend on the NWT shares was distributed as follows:

• RUR 214,817,000 (RUR 0.858 per share) on preferred shares;
• RUR 314,533,000 (RUR 0.357 per share) on ordinary shares.

As of December 15, RUR 3,866,000 remained outstanding. It is the dividend of shareholders who specified incorrect, incomplete, or expired data of their bank accounts or mail address in the dividend receipt form.