Investor Presentaiton

GSM 900/1800 Uralsvyazinform South-Urals Cellular Phone Ermak RMS Total subscribers as of 01.11.03 1,0 mln (+119% since 01.01.03) 2003 Penetration into mobile market of Sverlovsk region and Ekaterinburg Prospects consolidation - of mobile business under one brand Perm Ekaterinburg Chelyabinsk Kurgan Salekhard Khanty-Mansyisk Tyumen On September 24, 2003 an agreement to acquire 33,4% of Tatinkom-T, a mobile operator in Tatarstan was signed. Its subscriber base as of Sept. 1, 2003 totaled 120 thousand. URALSVYAZINFORM Overview

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