Open Joint Stock Company Southern Telecommunications Company hereby announces that on April 23, 2002 the Company's Level 1 ADR Program for Common Shares was successfully transferred from its custodian, The Bank of New York to the depositary J.P. Morgan Chase Bank (Ticker:STJSY, CUSIP: 843899105) due to the fact that J.P. Morgan Chase Bank was chosen as the sole depositary for creating and servicing ADR programs for the subsidiaries of OJSC Svyazinvest during a tender held in 200.