The Federal Securities Commission of the Russian Federation (FSC RF) has registered the issue prospectus of a non-coupon payable to bearer bond to be placed by OJSC Svyaz, Republic of Komi.  

The main reason for Svyaz to launch this fourth bond is to raise investments for network development in the Republic of Komi.  The bond is valued at Rub 5 mn, with a nominal rate of Rub 100.  A total of 50,000 bonds are to be issued. The annual interest yield is 18%, which is well above the average bank deposit rate.  The fourth bond provides for quarterly payouts and nominal rate redemption at maturity.  

The investment company Svyaz, founded by OJSC Svyaz, will be in charge of secondary market sales.  The company enjoys one of the soundest business reputations in the region, which provides a guarantee for its bond issue.  

Bonds are to be sold at telecommunications service outlets.  For more details on how to buy the aforementioned bonds, please call 21-50-70 or 21-41-26 in Syktvyvkar. 

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Svyaz is a company which has extensive experience on the regional bond market.  So far the company has issued three bonds worth a total of Rub 26,000,000.  Two bonds have been fully redeemed on schedule and the third is slated for redemption in November 2002.