Moscow, February 25, 2005. According to the national of corporate governance rating as of Y 2004 results provided by the Russian Institute of Directors (RID) and Expert RA rating agency consortium, CenterTelecom maintained its rating of corporate governance at a high level.

In May 2004 according to the results of evaluating the systems of corporate governance of two hundred Russian companies conducted by the Russian Institute of Directors and Expert RA rating agency, the highest category (category "A") to the corporate governance national rating scale was assigned to just one company, CenterTelecom.

During 2H 2004 CenterTelecom was working actively to further improve the system of corporate governance, which resulted in the highest rated being assigned to the company.

For further information please contact:

Securities and Corporate Governance Department Director
Elena Romskaya
+7 (095) 793-2319
E-mail: esidorovich@centertelecom.ru

The Head of Investors Relations Department
Andrei Kalinchenko
+7 (095) 793-2340
E-mail: kalin@centertelecom.ru

The Information Policy Department Director
Yana Lavrentyeva
+7 (095) 793-24-86
E-mail: pr@centertelecom.ru
www.centertelecom.ru

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).

The national corporate governance rating is a Russian Institute of Directors (RID) and Expert RA rating agency consortium project started in 2003. The Rating is an independent expert analysis of how the Russian companies adhere to the recognized by the international business community corporate governance standards linked to shareholders rights protection, management bodies operation and information disclosure.