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Moscow, September 22, 2004. CenterTelecom board meeting under the chairmanship of Ruben Amaryan General Director was held today.
The meeting discussed amendments to the Company’s budget in 2004. The results of Series 4 bond issue placement and conducting of public offer on acquisition of Series 03 bond issue as well as the results of receivables recovery activities in 1H 2004 were discussed. The meeting also reviewed the report on the operations of CenterTelecom Information Support Department in Q3 2004 and decided to modify the structure of the Coordination Council of the company’s Smolensk branch, heard the report on the implementation of the earlier passed resolutions of the Board of Directors and discussed several other questions.
As of the meeting results General Director Ruben Amaryan pointed out: “CenterTelecom is a commercial company operating in real market conditions. Operations of all its divisions should be evaluated through the attainment of specific results, including the increase in the company’s capitalization.
CenterTelecom is a leading fixed communications company providing the entire range of telecommunication services in the Central Federal District where over 20 % of the population of Russia resides. CenterTelecom offers the full range of telecommunication services, including telephony service, the Internet, IP telephony, data communications, CATV, wired and VHF broadcasting. The company actively develops modern multiservice and SDH networks as well as new radio access systems. The Company trades on RTS (ESMO, ESMOP), Moscow Interbank Currency Exchange (CTEL, CTELP) and has ADR Level 1 common stock program (CRMUY).
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