General Director Ivan Ignatenko and top management of South Telecommunications Company met with representatives of investment fund Wellington Management Company LLP in Krasnodaron June 23, 2004. The fund’s delegation comprised Trond Skramstad, head of the fund’s international markets department, and Alex Zarechnyak, head of the fund’s emerging markets department.

Wellington manages roughly $420 bln in investments from over 1,000 clients in more than 40 countries around the world. The investment fund 70 years of experience and operates a broad network of branches in every corner of the globe. In addition, it acts as an investment consultant for over 250 mutual funds.

STC executives delivered a representation on the company’s performance and development outlook, in particular, much attention was paid to expansion of value-added services in the South Federal District. During the meeting, Trond Skramstad received thorough answers to all the questions and also additional materials on the company’s activities.

STC is always on the lookout for new contracts and welcomes meetings with shareholders and investors. Those with proposals or who would like to arrange meetings to discuss results and perspectives of the company’s development are kindly requested to contact STC’s investor relations department by calling at +7 (8612) 53 20 30, sending a fax to +7 (8612) 53 19 69, or sending an e-mail to pmaleev@mail.stcompany.ru.