Krasnodar, 6th March 2008: Southern Telecommunications Company (“UTK”) [(RTS: KUBN, KUBNP; ?ICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reports that on 5th March 2008 the Board of Directors reviewed the proposals submitted by the Company’s shareholders in compliance with the procedures prescribed by the regulatory legislation and approved the lists of nominees to the Board of Directors and the Auditing Commission of "Southern Telecommunications Company" PJSC to be elected  at UTK’s 2008 Annual General Shareholders Meeting. These proposals were previously considered at the meeting of the Corporate Governance Committee of the UTK’s Board of Directors (Minutes ? 4 of March 4, 2008).

The Board of Directors of "UTK" PJSC decided to add to the BoD member list the following nominees:

?	Full name	Place of employment and position held
1	Alexander Vladimirovich Andreev	General Director of "Southern Telecommunications Company" PJSC
2	Boris Dmitrievich Antonyuk	Deputy Minister for Information Technologies and Communications of the Russian Federation
3	Igor Vyacheslavovich Belikov	General Director, Non-profit partnership “Russian Institute of Directors”
4	Natalia  Yurievna Belyakova	Deputy Director of the Economics and Finance Department, “Svyazinvest” OJSC
5	Alexander Markovich Branis	Director, Moscow Representative Office of “Prosperity Capital Management (RF) Ltd.”
6	Vladislav Viktorovich Brylkov	First Deputy Director General, “Leader” CJSC (Pension fund assets management company)
7	Valentina FyodorovnaVeremianina	Deputy Director of Corporate Management and Legal Department, “Svyazinvest” OJSC
8	Andrey Alexandrovich Vinkov	Reviewer, ANO  “Expert” Magazine”
9	Anatoly Anatolievich Gavrilenko	General Director , “Leader” CJSC (Pension fund assets management company)
10	Alexey Yurievich Goncharuk	First Vice-President, “COMSTAR-OTS” OJSC
11	Igor Konstantinovich Danilenko	Director, Prosperity Capital Management (United Kingdom) Ltd
12	Yevgeny Petrovich Yenin	Deputy Director General, Non-profit partnership “Russian Institute of Directors”
13	Vladimir Borisovich Zhelonkin	Deputy Director General, “Svyazinvest” OJSC
14	Oleg Borisovich Zyuzin	Head of Information Technologies Department, “Leader” CJSC (Pension fund assets management company)
15	Sergey Stanislavovich Ivashkovsky	Director, Representative Office of “Prosperity Capital Management (RF) Ltd.”
16	Alexander Borisovich Kalin	General Director, ALOR Group Ltd.
17	Sergey Mikhailovich Kerber	Director for Investments, “Leader” CJSC (Pension fund assets management company)
18	Andrey Anatolievich Kokin	Deputy Director General, “Leader” CJSC (Pension fund assets management company)
19	Denis Viktorovich Kulikov	Deputy Executive Director, Investor Protection Association (non-profit organization)
20	Ivan Nikolaevich Mazalov	Director, Representative Office of “Prosperity Capital Management (RF) Ltd.”
21	Mikhail Evgenievich Molchanov	General Director, ALOR + Ltd.
22	Stanislav Nikolaevich Panchenko	Deputy Director General, “Svyazinvest” OJSC
23	Alexander Valerievich Popovsky	Director of the MTS branch “Macro-region Yug”
24	Ekaterina Alexandrovna Punina	Chief specialist of Corporate Governance and Legal Department, “Svyazinvest” OJSC
25	Elena Nikolaevna Sadova	General Director, “ALOR INVEST” CJSC
26	Denis Alexandrovich Spirin	Director for Corporate Management, Representative Office of “Prosperity Capital Management (RF) Ltd.”
27	Vladimir Anatolievich Statyin	General Director, Non-profit Partnership “Association for the Shareholders Interest Protection” (ASIP)
28	Dmitry Yurievich Tushunov	Head of the Analytical Department – chief Economist, “Leader” CJSC (Pension fund assets management company)
29	Oleg Romanovich Fyodorov	Executive director of Corporate Finance Department, Deutsche Bank Ltd.
30	Roman Alexeevich Filkin	Director, Representative Office of “Prosperity Capital Management (RF) Ltd.”
31	Evgeny Alexandrovich Chechelnitsky	Deputy Director General, “Svyazinvest” OJSC

Nominees to be elected to the Auditing Commission of "UTK" PJSC are as follows:

?	Full name	Place of employment and position held
1	Mikhail Vladimirovich Batmanov	Head of the section, Corporate Governance and Legal Department of “Svyazinvest” OJSC
2	Bogdan Ivanovich Golubitsky	Deputy Director of the Economics and Finance Department, “Svyazinvest” OJSC
3	Tatiana Yurievna Zubova	Deputy Head of the section, Accounting, Taxation and Statistics Department of “Svyazinvest” OJSC
4	Sergey Ninelevich Kosarev	Head of the section of the Strategic Development Department, “Svyazinvest” OJSC
5	Oksana Valerievna Petrova	Head of the section, Corporate Governance and Legal Department of “Svyazinvest” OJSC