OREANDA-NEWS. On 29 July 2008 was announced, that OJSC VolgaTelecom launches tender for selection of lending institution to provide financial services of credit extension.

The tenders comprise two lots:

- lot 1: extending credit to the amount of RUR 400,000,000 for 24 months;

- lot 2: extending credit to the amount of RUR 700,000,000 for 36 months.

The funds will be allocated for financing OJSC VolgaTelecom day-to-day and investment operations.

The asking price of the Contract to be concluded based on the tenders’ results, is the maximum size of interest rate and equals to:

- for lot 1: the maximum size of interest rate for this lot is 1-month MOSPRIME* rate + 3.6% annually;

- for lot 2: the maximum size of interest rate for this lot is 1-month MOSPRIME* rate + 3.95 % annually.

Tenders should be submitted before September 1, 2008 and will be considered by a Tender Committee on September 4, 2008. The results of the tenders will be summed up on September 5, 2008. The tenders should be addressed to:

General Directorate

OJSC VolgaTelecom

Dom Svyazi, M.Gorky sq.,

Nizhny Novgorod city 603000

More details on the tender terms and conditions, documents, blanks and forms to fill in by the prospective bidders are available at: www.vt.ru/8211