On October, 6th 2004  North-West Telecom JSC effected payment under the fourth coupon of the interest-bearing documentary bonds payable to bearer with obligatory centralized care, series 02 (state registration No. 4-02-00119-A).  

The coupon yield was 14.2% per annum, RUR 35.4 having been accrued per Bond.   The payment was effected according to the schedule and in the full volume. The total amount allocated for the coupon payment amounted to RUR 53,100 thousand.  

Telecombank JSC acted as the payment agent in the payment of the coupon yield.  

The next coupon period is 3 months, and the payment of the next coupon will take place on 5th January 2005. The coupon rate will be 13.2% per annum.