Ekaterinburg – April 09, 2008 – Uralsvyazinform (RTS: URSI/URSIP, ADR: UVYZY/ UVYZYP), the leading carrier of fixed-line and mobile services in the Urals region, Russia reports the forming of the underwriting group for 08th series bond issue.

Today, on April 9, 2008 Uralsvyazinform is placing its 08th series bond issue worth RUR 2 billion. The issue’s lead manager is OAO AKB “Svyaz-Bank”.

The syndicate’s co-managers include: VTB Bank, Sberbank, Dresdner Bank.

Co-underwriters include: Bank Zenit, Bank Petrocommerce, BK Region, ING Bank (Eurasia), FC Otkritie, Absolut Bank, Bank of Moscow, SOUYZ Bank, Novikombank, Promsvyazbank, Transcapitalbank, Raiffeisen Bank, Orgresbank.

The issue is being placed via public subscription. Nominal value of one bond – RUR 1,000. The bonds mature in 5 years. Coupon period – 182 days.

According to the issue documentation, the bonds are redeemed in parts in the following terms:

• On the 1638th day since bond placement in the amount of 50% of each bond’s par;
• On the 1820th day since bond placement in the amount of 50% of each bond’s par.

The raised money will be used to re-finance the existing credit portfolio and finance the investment program.