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UTK

December 15, 2006

UTK PJSC paid out 2005 dividend on common shares

Krasnodar, 15th December 2006: Southern Telecommunications Company (“UTK”) [(RTS: KUBN, KUBNP; ?ICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the principal telecommunications provider for Russia’s Southern Federal District, reports that UTK’s dividend payout on common shares for the Company’s 2005 financial results totals RUR 26,915 ths as of December 15, 2006. The decision to execute the dividend payout on common shares, the amount and cut-off date of payment (0.01031 rubles per share to be paid prior to December 15,2006) was approved by the Company’s June 27, 2006 Annual General Shareholders Meeting. The total amount of 2005 dividends accrued on UTK’s common shares is RUR 30,522.9 ths.

The amount of the paid-out dividends has made 88.2 % of the income subject to payment. Non-execution of the obligation to pay out 2005 dividend to the amount of 3,607 thousand rubles was due to the fact that some shareholders had failed to appear and receive their accrued dividends or had furnished incomplete or out-dated information on their bank details or postal addresses. The Company endeavors to eliminate the abovementioned reasons and to execute its obligation on dividend payment in full. Despite the fact that the cut-off date of 2005 dividend payment is over, the Company  will continue to pay out 2005 dividend as well as dividends for previous years. The information on dividend payment can be acquired in the shareholders centers of UTK’s regional branches. Their addresses can be viewed at the corporate site here.

 

 

 

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