Krasnodar, 28 June 2006 – Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA), the largest fixed-line telecommunications provider for Russia’s Southern Federal District, reports that on 27th June 2006 the first session of the newly elected Board of Directors was held after the Company’s Annual General Shareholders Meeting. At the session Stanislav Nikolaevich Panchenko, Deputy Director General of “Svyazinvest” OJSC, was elected the Chairman of the Board of Directors of "Southern Telecommunications Company" PJSC.