OREANDA-NEWS. August 1, 2008. The Board of Directors of North-West Telecom JSC took a decision on floating 3,000,000 (three million) series 06 documentary non-convertible interest-bearing bonds payable to bearer, with obligatory centralized care, with the face value of RUR 1,000 (one thousand) each.

Sixth bond issue details:

Volume of the issue: RUR 3 billion;
Maturity period : 10 years;
Floatation price: RUR 1,000 (face value);
The coupon interest rate is determined during the placement and fixed for the entire circulation period.
The rates of the 2nd through 40th coupons are equal to the rate of the 1st coupon.

Retirement:
30% of the face value 8 years after the floatation date (on the 2912th day from the floatation date);
30% of the face value 9 years after the floatation date (on the 3276th day from the floatation date);
40% of the face value 10 years after the floatation date (on the 3640th day from the floatation date).

The call option is possible after 3 years (on the 1092th day from the floatation date) or after 6 years (on 2184th day from the floatation date).

The amount of bonus to be paid in case of early retirement of the bonds will be RUR 2,5 per bond.

It is expected that the 06 series bond issue of North-West Telecom will be floated at MICEX SE in the fourth quarter of 2008 – early in 2009 depending on the market environmental and the Company's money requirement .

The attracted funds will be used for funding the investment programme and for refinancing the short-term debt.