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Moscow, January 24, 2005. The meeting of the Federal Service for Financial Markets of Russia held on January 19, 2005, decided to authorize the foreign trading of 623 312 699 CenterTelecom common registered uncertificated shares, or 39.5% of the total volume of common stock. The authorization within the framework of the current American Depository Receipts (ADR) Level 1 program of CenterTelecom common stock is due to the registration of the new stock issue to increase the charter capital through the conversion of the common registered uncertificated shares and Type A registered uncertificated preferred shares from RUR 0.3 to RUR 3 and does not entail changes in the ADR program parameters.
On December 16, 2004 The Federal Service for Financial Markets of Russia carried out the state registration of CenterTelecom stock issues and assigned state registration number 1-04-00194- A to common registered uncertificated shares and 2-04-00194-A to registered uncertificated preferred shares. ADR Level 1 program of CenterTelecom common stock was registered on August 22, 2001 by US SEC. One ADR represents 100 common shares of the company. The ADRs are traded on the over the counter market (OTC: CRMUY). J.P. Morgan Chase is the Depository Bank for the program. The Depository agreement between CenterTelecom, J.P. Morgan Chase and depository receipt owners was signed on September 4, 2001, amended and reviewed on December 10, 2001.
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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