OREANDA-NEWS. Sibirtelecom OJSC (RTS: ENCO/ENCOP, ENCOG/ENCOPG; MICEX: STKM/STKMP, ADR: OTC – SBTLY, Frankfurt and Berlin Stock Exchanges - ISIN: US8257351036, WKN: 260452), the operator of telecommunication services in the Siberian Federal District, presents the unaudited consolidated financial statements for the 1 half of 2006 prepared in accordance with the International Financial Reporting Standards (IFRS).

In the first half of 2006, the Company’s consolidated revenues amounted to 14,130.6 million roubles, having increased by 1,402.0 million rubles, or 11.0% against the same period of the previous year.

Operating profit amounted to 3,257.6 million roubles, having increased by 1,182.4 million roubles or 57.0%. Operating profit margin amounted to 23.1%.

Profit before income tax amounted to 2,642.4 million rubles, having increased by 1,274.3 million roubles or 93.1%, caused by positive dynamics of profitability, share of result of associates, gain on sale of subsidiaries, associates and other investments and foreign exchange gains. Profit for the reporting period amounted to 1,822.9 million rubles, having increased by 94.0% against the same period of the previous year. Profit for the reporting period margin amounted to 12.9%.