OJSC FETEC (Dalsvyaz) paid 72,3 million rubles for redemption of he first coupon of three-year bonds of ?1 series on May 19, 2004. Yield per one bond with par value of 1000 rubles made up 72 rubles 30 kopecks with interest rate of 14,5% annually.

In total bonds have six semiannual coupons with fixed interest rate of 14,5% annually for the first circulation year, 15% annually for the second circulation year and 13% annually for the third circulation year. Investors are entitled to have bonds redeemed in advance at par value in two years after placement.

Bonds were placed at MIFCE on November 19, 2003. amount of issue at par value made up 1 billion rubles. Trust Investment Bank arranges and acts as payment agent on bond issue. PJSC AVK Investment Company is financial consultant in the course of issue.

Bonds will be redeemed on November 15, 2006.