OREANDA-NEWS. On 18 July 2008 CenterTelecom OJSC announced a change in its ADR/common share ratio from 1:100 to 1:25.

In accordance with amendments to the F-6 form registered by the US Securities and Exchange Commission (SEC) on June 3, 2008, and also with amendments to the Depository Agreement concluded by CenterTelecom OJSC, JPMorgan Chase Bank, N.A. and holders of CenterTelecom's American Depository Receipts, the ratio will be changed from 1 ADR per 100 common shares to one ADR per 25 common shares. Each CenterTelecom American Depository Share confirmed by American Depository Receipt will represent 25 common shares of the company.

The change in ratio is being made to increase the ADRs' liquidity.

Operations with CenterTelecom's ADRs will be suspended from July 24 to August 5, 2008 to permit the company's depository bank, JPMorgan Chase Bank, N.A., and the custodian, ING Bank (Eurasia) CJSC, to complete the necessary procedures implementing the new ratio.