North-West Telecom OJSC hereby informs that, by resolution of the Federal Property Management Agency and by its Instructions No. 3171-? of August 02, 2006 and No. 3711-? of October 12, 2006 re. privatization of shares of North-West Telecom OJSC, the St. Petersburg and Leningrad Oblast Division of the Russian Federal Property Fund is holding a bidding to sell the State-owned interests in NWT.

3.337% of the NWT Authorized Capital shares will be put up for the bidding, of which:

• 37,758,895 ordinary NWT shares,
• 5,276 preferred NWT shares.

Initial price of the shares: RUR 1,124,117,000.

Bidding step: RUR 20 million.

The bidding will be public both in terms of the bidders’ list and in the price bid format.

Bidding application acceptance starting date: December 29, 2006.

Bidding application acceptance deadline: March 12, 2007.

Applications for participation in the bidding will be filed at 20 B ul. Ordinarnaya, St. Petersburg, on business days from 14:00 till 17:00 (Fridays, 14:00 till 16:00). Advance registration phone: 812 346-23-27.

The bidders will be named at 20 B st. Ordinarnaya, St. Petersburg, on March 15, 2007 at 10:30 Moscow time.

The bidding results will be summed up 20 B st. Ordinarnaya, St. Petersburg, on March 15, 2007 at 11:00 Moscow time.

More detailed information on the bidding to sell shares of North-West Telecom OJSC may be found on the website of the Russian Federal Property Fund or in official Bulletin No. 117 of the Reform Russian Federal Property Fund of 29.12.2006.