Starting from the 15th of October 2007, OJSC North-West Telecom 's bonds of the third and fourth issues have been listed among the bonds accepted as security for direct re purchase agreement transactions of the Central Bank of the Russian Federation (the Bank of Russia). It is expected that the possibility of using OJSC N.W. Telecom 's bonds in re purchase agreement transactions of the Bank of Russia will result in an increased demand of the professional market players and in an increased liquidity of the bonds.

The decision of the Bank of Russia has confirmed once again the high reliability of the Company in Russia's market of debentures.

Brief Information on the 3rd Issue of OJSC N.W. Telecom 's Bonds

Bonds of the third issue of OJSC N.W. Telecom are series 03 documentary interest-bearing bonds payable to bearer, with obligatory centralized care. The state registration No. is 4-03-00119-A. The bonds were floated at the MICEX stock exchange on the 3rd of March 2005. The volume of the issue is 3,000,000,000 roubles, there are 3 million bonds with the face value of 1,000   roubles, the circulation period of the OJSC N.W. Telecom 's bonds being 6 years with the right of early presentation of the bonds for redemption in 3 years.   The coupon yield under the bonds is to be paid on a quarterly basis .  

Brief Information on the 4th Issue of OJSC N.W. Telecom 's Bonds

Bonds of the fourth issue of OJSC N.W. Telecom are series 04 documentary interest-bearing bonds payable to bearer, with obligatory centralized care. The state registration No. is 4-04-00119-A. The bonds were floated at the MICEX stock exchange on the 14th of December 2006. The volume of the issue is 2 billion roubles, there are 2 million bonds with the face value of 1,000 roubles each. The bonds circulation period is 5 years with the possibility of pre-term retirement , if OJSC N.W.Telecom wishes so, on the 728th day from the date of the floatation start. The coupon yield under the bonds is to be paid on a quarterly basis .  

You can get more detailed information on Company 's bonded loans at OJSC N.W. Telecom 's corporate web site in the section «To Investors and shareholders»