Krasnodar, November 30, 2004: Southern Telecommunications Company (“UTK”) (RTS: KUBN; OTC: STJSY), the principal telecommunications provider for Russia’s Southern Federal District, reports that according to the Resolution of the Federal Commission on Financial Markets of November 2, 2004 common and preference shares of "Southern Telecommunications Company" PJSC will be traded on the “RTS Stock Exchange” Joint –Stock Company (“RTS” JSC). UTK’s shares were transferred from the Stock Exchange “Saint Petersburg” to “RTS” JSC in connection with the decision to create a new stock exchange - “RTS Stock Exchange” Joint –Stock Company. It was decided to start trading at the “RTS Stock Exchange” Joint –Stock Company on November 23rd, 2004.
Symbol KUBNG is assigned to UTK’s common registered shares, and symbol KUBNPG is assigned to UTK’s preference registered shares. Trading participants will be able to trade securities on “RTS” JSC anonymously using the “delivery versus payment” technology with 100% preliminary deposition of assets and to trade all securities from one cash account. Technologies used by “RTS” JSC allow the market participants to handle their resources effectively using REPO technology and bank loans.