OREANDA-NEWS. North-West Telecom OJSC hereby informs that, by resolution of the Federal Property Management Agency and by its Instructions No. 3171-р of August 02, 2006 and No. 3711-р of October 12, 2006 re. privatization of shares of North-West Telecom OJSC, the St. Petersburg and Leningrad Oblast Division of the Russian Federal Property Fund is holding a bidding to sell the State-owned interests in NWT.

3.337% of the NWT Authorized Capital shares will be put up for the bidding, of which: 37,758,895 ordinary NWT shares; 5,276 preferred NWT shares.

Initial price of the shares: RUR 1,124,117,000. Bidding step is RUR 20 million.

The bidding will be public both in terms of the bidders’ list and in the price bid format. Bidding application acceptance deadline is on March 12, 2007.