Siberia Telecom on December 14, 2004 was declared the winner of Best Achievements in Investor Relations Nomination at the 2^nd Annual Contest sponsored by IR Magazine in cooperation with the Union of IR Professionals.

The Moscow-based contest was attended by representatives of more than 150 leading Russian companies, which exhibited high quality of their IR activities: 11 companies were presented eight awards. Siberia Telecom, Lukoil and Uralsvyazinform were presented the Greatest IR Achievements award. Contest winners were selected through a poll conducted by independent research firm Mary Maude Research among 50 investment analysts, brokers and portfolio managers. The IR Magazine prize is internationally recognized and based on independent research and legitimately confirms achievements in IR activities.

Commenting on the results of the contest, Siberia Telecom’s general director Anatoly Nikulin stressed that the assignment of such a high rating by the professional community is a reasonable occurrence rather than a mere surprise. In the course of its formation the super regional telecom operator has set improvement of its IR activities as a top priority for its development and has been pursuing this target over the past two years. As a result, Siberia Telecom has achieved rapid growth in market capitalization, strengthened its international ratings and made its activities and relations with shareholders more transparent.