Teleconference to be held at www.finam.ru 

Vladivistok, August 20, 2004 – Far East Telecom (RTS ticker: ESPK; MICEX ticker: DLSV; ADR: FEEOY), the leading telecom operator in Russia’s Far East, invites journalists and the investment community to participate in an online conference dedicated to the release of the company’s FY 2003 IAS reports.

The conference will be held on the web site of FINAM: www.finam.ru– on August 31, 2004, from 11:00to 12:30Moscowtime. Moreover, a special Q&A session devoted to the discussion of Far East Telecom’s FY 2003 IAS results will take place on the English version of the above website for foreign investors and company analysts.

All those who would like to obtain more information about the company’s operating and financial results will be able to address the telecom operator’s management for comments.

The company’s press release on 2003 IAS results will be forwarded to news agencies on August 27, 2004.

On the eve of the online conference, August 30, 2004, the company’s 2003 annual report will be posted in the segment entitled “For Investors and Shareholders” on Far East Telecom’s corporate web site (www.dsv.ru.)

Should you have any questions, please feel free to contact Far East Telecom’s Investors Relations Department, Sergei Sinenkoat (4232) 20-85-00 #1300 or e-mail pr@dsv.ru or ir@dsv.ru.