On 13 November 2003, Public Joint Stock Company Moscow City Telephone Network (MGTS) will pay out the 4th coupon per its interest-bearing documentary bearer bonds with obligatory centralized deposit (state registration No 4-02-00083-A, registration date - 17 October 2001). The coupon yield is Eleven and Half per cent (11.5%) per annum. The 4th coupon value is Fifty-Seven rubles & Sixty-Six kopecks (RUR 57.66) per each bond.

The Company notifies that pursuant to the Prospectus for the emission of its bonds of the 2nd issue, A2 series, the 5th coupon rate of the PJSC MGTS interest-bearing documentary bearer bonds with obligatory centralized deposit (state registration No 4-02-00083-A, registration date - 17 October 2001) is determined at the tune of 11.30% per annum. The coupon value is Fifty-Six rubles & Thirty-Five kopecks per each bond. The coupon will be paid out on 13 May 2004.