OREANDA-NEWS. Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reports that on 21st November 2006 Standard & Poors Governance Services raised its corporate governance score (CGS) on Southern Telecommunications Company to CGS-4+ from CGS-4.
 
At the same time, Standard & Poors raised its Russia national scale CGS on the company toCGS-4.8 from CGS-4.4.

The upgrade primarily reflects the increased effectiveness of the Company’s Board of Directors due to more focused oversight by the controlling shareholder, Svyazinvest.