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Dalsvyaz

August 20, 2004

Far East Telecommunications Company will comment Financial Results for 2003 in accordance with International Accounting Standards (IAS)

Open Joint Stock Company “Far East Telecommunications Company”(ADR OTC: FEEOY), the leader of the telecommunications market of the Far East Federal District of the Russian Federation invites the public representatives to take part in the on-line conference and on the created web-chat on the Company’s web-site, devoted to its financial results in IAS of 2003 fiscal year.

The conference will be held on the 31st of August 2004 from 11 a.m. to 12:30 p.m. Moscow local time at the Internet portal www.finam.ru.

For international investors and analysts the chat will be available since August 31, 2004 at the English version of the Company’s web site www.dsv.ru in the section “Investor Relations”.

All the participants will be able to address their questions to General Director (CEO) – Igor Zabolotny, Deputy General Director for Economy and Finance (CFO) – Konstantin Voloshin, Chief Accountant – Andrey Kartashov and Deputy General Director for Corporate Development (VP of Corporate Development) – Alexander Zheludkov.

Far East Telecom plans to announce its financial-annual results for 2003 on the 27th of August 2004, before the opening of the on-line chat conference.

For more information please contact Sergey Sinenko, Director of the Department for Securities and Capital Markets, using the following phone number: +7(4232) 208-500, ext. 1300 or e-mail to ir@dsv.ru or pr@dsv.ru.

About Far East Telecom: Open Joint Stock Company "Far East Telecommunications Company" (Dalsvyaz) incorporated on the 12th of May 1994 is the largest fixed-line operator in the Far East Federal District of the Russian Federation with the 142 million USD in revenue of the first half of 2003. The Far East Telecom is one of the largest federal telecommunication companies by market capitalization (85 million USD as of December 31, 2002; capitalization of the company group by the end of the first half of 2004 was 125 million USD) and the first largest by growth of sales revenue at the first quarter 2003. Dalsvyaz’s licensed area covers the territory of 2,000 thou sq km with the population over 5.6 million people. The equipped capacity of the Far East Telecom networks is 1,205 million lines. At the end of 2003 the Company had 87% share in the local communications market, provided 81% of inter-urban and international communications services and 72% of the Internet services. The detailed information about the Company can be viewed on the corporate site www.dsv.ru. The information about Company’s ADR can be viewed at www.adr.com.

 

 

 

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