The Board of Directors of OJSC Uralsvyazinform passed a resolution on August 8, 2002 concerning the starting date and the price of the company's upcoming bond placement.  

The issue of OJSC Uralsvyazinform's 02 series interest-bearing coupon payable to bearer bonds with centralized deposit is for a total amount of 1,000,000,000 units, with a nominal value of Rub 1,000 per bond and a term to maturity of 1,080 days from the date of placement of the bond, which has been registered by the Federal Securities Committee of the Russian Federation with issue registration number 4-106-00175-A.  

Placement of the bond is scheduled to begin on August 22, 2002.  The placement price has been fixed at 99.18% of the nominal value of the bond.  

Bond income is the amount accrued and payable under coupons for each maturity term and discount as the difference between the redemption price (nominal value) and the placement price.  The coupons carry a 17.5% annual interest rate.  A total of 12 coupons will be issued for the circulation life of the bond.  

The bond will be placed by its marker maker, ZAO Moscow Interbank Currency Exchange (MICEX). 

Renaissance Capital and Veb Invest Bank will act as the exclusive arrangers and leading managers for the bond placement.  OJSC Svyazinvest will act as the project coordinator.  

More information on the bond issue has been posted and can be viewed on the corporate website of OJSC Uralsvyazinform in the section entitled "For Shareholders".  

A road show will be held by the arrangers of the bond issue as follows: in Perm (August 13), Tyumen (August 15), Yekaterinburg (August 16),  Saint Peterburg (August 20).