Moscow, December 11, 2003. The Board of Directors of Z?? Sky Link has resolved to appoint Vladimir Kostrov the company’s General Director. Mr. Kostrov was nominated by ZAO Sistema Telecom, the management company for Sistema JSFC’s telecommunications assets. Vladimir Kostrov said in his acceptance speech, “A key task facing ZAO Sky Link is developing cellular telecoms services in the IMT-MC-450 standard in Russia. My first priority will be putting together a team of managers capable of achieving this task with a maximum effect.” Vladimir Kostrov was born in Moscow on September 14, 1960.In 1982, he graduated from the Moscow Institute of Electrical Communication Technologies majoring in automatic electrical communications. In 2001, he received a degree in communications management from the Academy of the National Economy under the Russian Federal Government. Mr. Kostrov built his professional career in the Moscow City Telephone Network (MGTS), which he joined upon graduation from the institute as an engineer at the line communications laboratory. He advanced up to become a leading electrical communications engineer, chief of the marketing and promotion department, and executive director. On April 25, 2002, he was made deputy General Director and head of the Science and Engineering Department of OAO MGTS. ZAO Sky Link was established in June 2003 to implement a project to deploy a federal mobile communications network in the IMT-MC-450 (CDMA 2000 1?) standard. It was founded by several telecoms companies, including the Russian Telecommunication Development Corporation (RTDC Corp.). In December 2003, the Sky Link project was joined by Sistema Joint-Stock Financial Corporation after it bought 50% of ordinary shares in ZAO Sky Link from one of its owners, Carmarthen Trading Limited. Under a protocol of intent, signed previously by ZAO Sistema Telecom and the owners of ZAO Sky Link, the shareholders are to contribute to the project their shares in OAO Moscow Cellular Telecommunications (MSS, Moscow), ZAO Delta Telecom (St. Petersburg), and OAO Personal Communications (Sonet trademark, Moscow). The two companies, MSS beginning in November 2003 and Delta Telecom, since December 2002, have been providing IMT-MC-450 standard cellular telecoms services under the common Sky Link brand name. Personal Communications also operates in the CDMA standard in the 800 MHz frequency band. Sistema Telecom Company was created on July 1, 1998, as a Sistema JSFC subsidiary to manage the corporation’s telecoms assets brought together into a group of companies under the same name. Sistema Telecom comprises Russia’s leading telecoms operators providing mobile and fixed telephone, paging and satellite communication services, Internet access services, and Global Positioning System and broadband communications services. In particular, these are OAO MTS, OAO MGTS, ZAO MTU-Inform, ZAO MTU-Intel, ZAO Comstar, ZAO Telmos, and OAO Personal Communications, among others. Anna Boiko, Director Information and Public Relations Department, Sistema Telecom Tel.: (095) 105-74-10 E-mail: boyko@sistel.ru