Moscow – July 6, 2004 – Svyazinvest, the largest Russian telecommunications holding company, and Rostelecom (NYSE: ROS; RTS, MICEX: RTKM, RTKMP), Russia’s national long-distance operator, today announced the appointment of Vladimir Androsik, formerly Rostelecom’s CFO, as the Advisor to the General Director of Svyazinvest. He will be in charge of overseeing relationships between Rostelecom and regional telecoms. Andrey Gayduk, who previously held the position of Chairman of the Management Board of the Russian Industrial Bank, was appointed Deputy General Director – Chief Financial Officer.

 

Svyazinvest’s CEO Valery Yashin said:“As the CFO of Rostelecom, Vladimir Androsik has done much to improve and strengthen the Company’s financial position, by introducing a system of financial controls, reducing debt, disposing of non-core assets, and streamlining Rostelecom’s business-portfolio. His new task will be even more challenging - to coordinate financial relationships between Rostelecom and regional telecoms in order to enhance the holding company’s overall efficiency”.

 

Dmitry Yerokhin, Rostelecom’s CEO, commented on the appointments:“I would like, first of all, to thank Vladimir Androsik for his invaluable contribution to the restructuring of Rostelecom, which has laid the foundation for the Company’s further successful development. When selecting a new Chief Financial Officer, we were looking for a strong professional who would ensure the continued strengthening of Rostelecom’s financial standing. Andrey Gayduk has considerable experience both in finance and telecommunications, and I am sure that he will successfully accomplish the tasks he will face in his new capacity”.

 

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Vladimir Androsik has held the position of Chief Financial Officer of Rostelecom since September 2001. Prior to joining Rostelecom he had worked for Peterstar, an alternative telecommunications operator in St. Petersburg, holding positions of financial expert and deputy CFO in charge of management accounting. Mr. Androsik was born in Biysk, Altai region, in 1975. In 1997 he graduated from St. PetersburgStateUniversitywith a degree in economics and mathematics. He also received supplementary education at Chartered Institute of Management Accountants (London). 

 

Andrey Gayduk has held the position of Chairman of the Management Board of the Russian Industrial Bank since September 2002. From 1998 until 2002 he held several executive positions in the banking industry. Mr. Gayduk also has experience in telecommunications: for over two years he worked as a financial analyst and then business-planning expert in Telecominvest. Mr. Gayduk was born in Groznyin 1973. In 1995 he graduated from St. Petersburg University of Economics and Finance with a degree in finance.

 

For further details please contact:

Svyazinvest Information Department Tel.: +7 095 727 0418, Fax: +7095 727 0475; e-mail: pr@svyazinvest.ru

Rostelecom PR and IR Department Tel.: +7 095 973 9920; Fax: +7 095 787 2850; e-mail: rostelecom@rostelecom.ru