Investor Presentaiton

Rapid growth 2001 CAGR 2002-05 Implemented 2002 2003 F 2004F 2005F 2002-05 Plan Wire-line Thous. Lines 3 112 +338 +356 +380 +360 10% +1 434 Mobile/GSM Thous. Lines 261 +275 +804 +280 +280 63% +1 639 Intrazone fiber optical links Thous. Km 1,4 +1,5 +2,1 +2,5 +2,1 64% +8,2 Intrazone radio microwave links Thous. Km 2,0 +0,07 +1,1 +1,8 +1,3 33% +4,3 Investment structure'2002: DLD/ILD telephony - 15 % Mobile telephony - 20% Local telephony - 56 % New services - 8% Other -1% URALSVYAZINFORM Strategic investment priorities - potential for growth

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