OREANDA-NEWS. On January 20, 2009 Southern Telecommunications Company (“UTK”) [(RTS: KUBN, KUBNP; МICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the principal fixed-line telecommunications provider for Russia’s Southern Federal District reported that according to the decision of the MICEX Executive Board of 23 December 2008, from 29 December 2008 UTK’s bonds of series 03, 04 and 05 are admitted to trading on MICEX in compliance with “The MICEX Rules regulating the circulation of securities, transactions in which are carried out in the Trading System in the government securities market with settlements for transactions effected in the currency of the Russian Federation in the Sector for settlements for government Federal securities in the organized securities market", reported the press-centre of UTK.

The decision was adopted following the inclusion of the Company’s bond issues on the Bank of Russia’s Lombard List at the end of 2008. This fact characterized the bonds as a reliable instrument to cover the Company’s liabilities under credits and showed that the Central Bank of Russia considered the credit quality of UTK to be satisfactory, thus contributing to further enhancement of the liquidity of the bonds.