SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                             ----------------------

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER

                    Pursuant to Rule 13a-16 or 15d-16 of the
                         Securities Exchange Act of 1934

                             Date: February 21, 2003

                         Commission file number 1-14748

                           OPEN JOINT STOCK COMPANY OF
                         LONG DISTANCE AND INTERNATIONAL
                          TELECOMMUNICATIONS ROSTELECOM
                          Doing Business as Rostelecom
                 (Translation of registrant's name into English)

                             THE RUSSIAN FEDERATION
                         (Jurisdiction of organization)

                         14 1ST TVERSKAYA-YAMSKAYA STR.
                              125047 MOSCOW, RUSSIA
                    (Address of principal executive offices)

          Registrant's telephone number, international: +7 095 973 9940

     Indicate  by check mark  whether the  registrant  files or will file annual
reports under cover Form 20-F or Form 40-F.

                           Form 20-F   X             Form 40-F
                                      ---                      ---

     Indicate by check mark whether the registrant by furnishing the information
contained  in this  Form is  also  thereby  furnishing  the  information  to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                           Yes                       No   X
                                 ---                     ---

     If  "Yes"  is  marked,  indicate  below  the file  number  assigned  to the
registrant in connection with Rule 12g3-2(b): 82-________


<PAGE>


     On February 17, 2003, OJSC  Rostelecom (the "Company")  filed its quarterly
report  for the 4th fiscal  quarter  ended  December  31,  2003 (the  "Quarterly
Report") with the Russian Federal  Commission for the Securities Market ("FCSM")
as required by the Russian Federation's securities legislation.

     The  requirements for the contents of the Quarterly Report and criteria for
the  information to be disclosed in the Quarterly  Report are established by the
laws and regulations of the Russian  Federation.  Such requirements and criteria
for the  information  disclosure  may,  therefore,  materially  differ  from the
reporting and disclosure  requirements  under the U.S.  securities laws to which
the Company is subject,  including  the reporting  and  disclosure  requirements
applicable to the Annual Report on Form 20-F.

     As a  consequence  of  such  differences,  the  Quarterly  Report  includes
information based on unaudited  unconsolidated statutory financial statements of
the Company prepared in accordance with Russian  Accounting  Standards  ("RAS").
RAS differs in significant respects from International  Accounting Standards and
from generally accepted accounting  principles in the United States.  Therefore,
the results disclosed in this Quarterly Report are prepared on a basis different
from the Company's audited annual consolidated  financial statements included in
its Annual Reports on Form 20-F.

     Terms used in the  Quarterly  Report have the meaning  given to them by the
laws and regulations of the Russian  Federation,  which meaning may be different
from  the  meaning  given to the same  terms  by the  U.S.  securities  laws and
reporting and  disclosure  requirements  including the reporting and  disclosure
requirements, applicable to the Annual Report on Form 20-F.

     Certain statements in the Quarterly Report are "forward-looking statements"
within the meaning of the U.S.  federal  securities  laws and are intended to be
covered by the safe harbors created thereby.

     Those forward-looking statements include, but are not limited to:

     -    the Company's plans to construct and modernize its network;

     -    the  Company's  plans  relating to the  expansion  of the range of its
          services;

     -    the  Company's  plans  concerning  the  restructuring  of  its  branch
          network;

     -    the   Company's    expectations    as   to   its   position   in   the
          telecommunications market;

     -    the Company's expectations as to the increase of its revenues; and

     -    other statements regarding matters that are not historical facts.

     These  forward-looking  statements are subject to risks,  uncertainties and
other factors,  which could cause actual results to differ materially from those
expressed  or  implied  by  these  forward-looking   statements.   These  risks,
uncertainties and other factors include:

     -    risks relating to changes in political, economic and social conditions
          in Russia;

     -    risks  relating  to  Russian  legislation,  regulation  and  taxation,
          including  laws,  regulations,  decrees and  decisions  governing  the
          Russian telecommunications industry and currency and exchange controls
          relating to Russian  entities  and their  official  interpretation  by
          regulatory bodies;

     -    risks  relating  to the  Company,  including  demand  for  and  market
          acceptance of, its services and competitive pressure; and

     -    other risks and uncertainties.


<PAGE>


     For a more  detailed  discussion  of  these  and  other  factors,  see  the
Company's Annual Report on Form 20-F for its most recently completed fiscal year
and the  Company's  other public  filings.  Many of these factors are beyond the
Company's  ability to control or predict.  Given these and other  uncertainties,
readers are cautioned not to place undue reliance on any of the  forward-looking
statements  contained herein or otherwise.  The Company's does not undertake any
obligation to release publicly any revisions to these forward-looking statements
(which  speak only as of the date  hereof) to  reflect  events or  circumstances
after the date  hereof or to reflect the  occurrence  of  unanticipated  events,
except as may be required under applicable securities laws.

     For  any  questions  concerning  the  Quarterly  Report,  contact  Olga  V.
Mokhoreva,  head of the  Securities  Department  of the Company,  by phone at +7
(095)   973-9940,   by  facsimile   at  +7  (095)   787-2850  or  by  e-mail  at
mokhoreva@hq.rt.ru.


<PAGE>


                                    SIGNATURE


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.



Date:    February 21, 2003                By:  /s/ Vladimir I. Androsik
                                               ---------------------------------
                                               Name: Vladimir I. Androsik
                                               Title:   Deputy General Director-
-------------------------------                         Finance Director


<PAGE>



                                  EXHIBIT INDEX



     The following exhibit has been filed as part of this Form 6-K:


       Exhibit Number                     Description

              1.                          English translation of the Company's
                                          Quarterly Report for its 4th fiscal
                                          quarter ended December 31, 2002 filed
                                          with the Russian Federation Commission
                                          for the Securities Market.


<PAGE>





                                                            EXHIBIT 1

                                                            APPROVED
                                                        Board of Directors
                                       Protocol No. 2 of February 19, 2003

       Chairman of the Board of Directors V. N. Yashin       [signature]
                                                        ------------------------
                                                                 (Signature)



                                                                (Seal)



                      SECURITIES ISSUER'S QUARTERLY REPORT

                              For Quarter IV, 2002


            Open Joint Stock Company Long Distance and International
                         Telecommunications Rostelecom

                              Issuer Code: 00124-A

                  Location: 5 Delegatskaya Str., Moscow 127091.
         Postal address: 14, 1st Tverskaya-Yamskaya Str., Moscow 125047



Information  included  in this  quarterly  report is  subject to  disclosure  in
accordance with the Russian Federation's securities legislation.



         General Director of Open Joint Stock Company Rostelecom S. I. Kuznetsov
                                                             [signature]
                                                        ------------------------
                                                                 (Signature)


         Chief Accountant A. A. Lutsky                       [signature]
                                                        ------------------------
                                                                 (Signature)



                                                               January 30, 2003


(Seal)

Contact Person:  Valentina Fedorovna Galova
Chief Specialist
Tel.:  (095) 973-9921  Fax:  (095) 787-2850
Email:  oracb@hq.rt.ru


<PAGE>



                          A. Information on the Issuer

9.     Full Company Name of the Issuer

       [Russian]


       Open    Joint    Stock    Company    Long-distance    and   International
       Telecommunications
       Rostelecom

10.    Abbreviated Name

       OAO "[Russian]"
       OJSC "Rostelecom"

11.    Information on Changes in the Name and Legal and Organizational Structure
       of the Issuer

       Joint  Stock  Company of the Open Type  Long-distance  and  International
       Telecommunications Rostelecom
       JSCOT Rostelecom
       Established: September 23, 1993

       Current name established: July 28, 1998

12.    Information on Registration of the Issuer with the State  Authorities and
       on its Licenses

       Date of state  registration  of the issuer:  September 23, 1993
       Number  of  the  State   Registration   Certificate  (or  other  document
       confirming the issuer's state registration): 021.833
       The state authority, which effected the registration: Moscow Registration
       Chamber

       Licenses:
       No.:  FLTs 000922-2(III)\BT
       Issue date: December 27, 2000
       Expiry date: December 27, 2003
       Licensing  authority:  State  Committee  of the  Russian  Federation  for
       Construction and Municipal Housing Complex
       Activities:  production of building structures and materials

       No.:  FLTs 000922-2 (II)\DT
       Issue date:  December 27, 2000
       Expiry date:  December 27, 2003
       Licensing authority:  State Committee of the Russian Federation for
       Construction and Municipal Housing Complex
       Activities:  building and construction activities

       No.:  FLTs 005371-1 (I)
       Issue date:  October 25, 2000
       Expiry date:  October 25, 2003
       Licensing authority:  State Committee of the Russian Federation for
       Construction and Municipal Housing Complex
       Activities:  building and construction activities

       No.:  FLTs 005371-1 (II)
       Issue date:  September 25, 2000



<PAGE>


       Expiry date: 25 September, 2003
       Licensing authority:  State Committee of the Russian Federation for
       Construction and Municipal Housing Complex
       Activities:  building and construction activities

       No.:  FLTs 005371-1 (III)
       Issue date:  September 25, 2000
       Expiry date:  September 25, 2003
       Licensing authority:  State Committee of the Russian Federation for
       Construction and Municipal Housing Complex
       Activities:  production of building structures and materials

       No.:  8701
       Issue date:  October 17, 1997
       Expiry date:  November 1, 2005
       Licensing authority:  State Committee for Communications and
       Informatization of the Russian Federation
       Activities:  rendering local telecommunications services

       No.:  8777
       Issue date:  October 17, 1997
       Expiry date:  January 1, 2004
       Licensing authority:  State Committee for Communications and
       Informatization of the Russian Federation
       Activities:  rendering domestic long-distance and international
       telecommunications services

       No.:  3136
       Issue date:  August 16, 1996
       Expiry date:  October 1, 2006
       Licensing authority:  Ministry of Telecommunications and Informatization
       of the Russian Federation
       Activities:  rendering cellular telecommunications services in the 900
       MHz bandwidth

       No.:  3137
       Issue date:  August 16, 1996
       Expiry date:  October 1, 2006
       Licensing authority:  Ministry of Telecommunications and Informatization
       of the Russian Federation
       Activities:  rendering cellular telecommunications services in the 900
       MHz bandwidth

       No.:  3138
       Issue date:  August 16, 1996
       Expiry date:  October 1, 2006
       Licensing authority:  Ministry of Telecommunications and Informatization
       of the Russian Federation
       Activities:  rendering cellular telecommunications services

       No.:  3226
       Issue date:  May 15, 1997
       Expiry date:  May 15, 2007
       Licensing authority:  Ministry of Telecommunications and Informatization
       of the Russian Federation
       Activities:  rendering of telematic services

       No.:  3227
       Issue date:  May 15, 1997

<PAGE>


       Expiry date:  May 15, 2007
       Licensing authority:  Ministry of Telecommunications and Informatization
       of the Russian Federation
       Activities:  rendering of data transmission services

       No.:  10857
       Issue date:  October 9, 1998
       Expiry date:  October 9, 2003
       Licensing authority:  State Committee for Communications and
       Informatization of the Russian Federation
       Activities:  rendering of telegraph communications services

       No.:  13378
       Issue date:  November 30, 1999
       Expiry date:  November 30, 2004
       Licensing authority:  State Committee for Communications and
       Informatization of the Russian Federation
       Activities:  rendering television and radio broadcasting services and
       transmission of additional data

       No.:  FLTs 000922-2(I)
       Issue date:  April 28, 2000
       Expiry date:  April 28, 2003
       Licensing authority:  State Committee of the Russian Federation for
       Construction and Municipal Housing Complex
       Activities:  structural engineering activities

13.    Taxpayer Identification Number

       7707049388

14.    Industry of the Issuer

       OKONKh Codes:

       52300

15.    Issuer's Location, Postal Address and Contact Telephone Numbers

       Location:  5 Delegatskaya Str., Moscow 127091.
       Postal address:  14, 1st Tverskaya-Yamskaya Str., Moscow 125047
       Tel.:  (095) 787-2849  Fax:  (095) 787-2850
       Email:  rostelecom @ nmc.rospac.ru

16.    Information on the Issuer's Auditor

       Name:  Closed Joint Stock Company Ernst & Young Vneshaudit
       Location:  20/12 Podsosensky per., Moscow, 103062
       Tax payer identification number:  7717025097
       Postal address:  20/12 Podsosensky per., Moscow, 103062
       Tel:  (095) 917-3306  Fax:  (095) 917-2410
       Email:  moscow@ru.eyi.com

       Information on auditor's license:
       License No.:  004768
       Issue date:  March 13, 2000
       Expiry date:  February 8, 2003

<PAGE>



       Licensing authority:  Ministry of Finance of the Russian Federation

17.    Information on Organizations Registering Rights to Issuer's Securities

       Registrar:
       Name:  Branch of Closed Joint Stock Company Registrator-Svyaz -
       RTC-Registrator
       Location:  5, Delegatskaya Str., Moscow, 127091
       Postal address:  5, Delegatskaya Str., Moscow, 127091
       Tel:  (095) 200-5313   Fax:  (095) 973-2700
       Email:  rtk_adm@ ropnet.ru

       License:
       License No.:  10-000-1-00258
       Issue date:  October 01, 2002
       Expiry date:  without limit
       Licensing authority: Federal Commission for the Securities Market of the
       Russian Federation (FCSM)

       Date on which the above registrar started maintaining the register of the
       issuer's registered securities: May 5, 1997

       Centralized  keeping of  issuer's  Securities  was not  performed  in the
       reporting quarter.

18.    The Issuer's Depositary

       None

19.    The Issuer's Participants

       Total number of shareholders (participants):  21 714

       Shareholders (participants) having in their ownership at least 5 % of the
       issuer's charter capital:

       19.1       Name:  Open Joint Stock Company Svyazinvest
                  Location:  55, Bldg. 2, Plyuschikha Str., 119121, Moscow
                  Postal address:  55, Bldg. 2, Plyuschikha Str., 119121, Moscow
                  Share in the issuer's charter capital:  38.005 %
                  Shareholders (participants) having in their ownership at least
                  25 % of the charter capital of the issuer's shareholder
                  (participant):

                  19.1.1  Name:  Ministry of Property Relations of the Russian
                                 Federation
                          Location:  9, Nikolskiy Per., 103685, Moscow
                          Postal address:  9, Nikolskiy Per., 103685, Moscow
                          Share in the charter capital of the issuer's
                          shareholder (participant):  50 % + 1

                  19.1.2  Name:  MUSTCOM LIMITED
                          Location:  3 Themistoklis Dervis street Julyia House
                                     CY-1066 Nicosia Cyprus
                          Postal address:  9, Dmitrovsky Per., 103031, Moscow
                          Share in the charter capital of the issuer's
                          shareholder (participant):  25 % + 1

       19.2       Name:  ING Bank (Eurasia) ZAO / ING DEPOSITARY-ING Barings
                  Location:  31, Krasnaya Presnya Str., 123022, Moscow
                  Postal address:  31, Krasnaya Presnya Str., 123022, Moscow
                  Share in the issuer's charter capital:  18.509 % (nominee
                  holder)
                  Shareholders (participants) having in their ownership at least
                  25 % of the charter

<PAGE>


                  capital of the issuer's shareholder (participant):

       19.3       Name:  National Depositary Center, a non-commercial
                  partnership
                  Location:  12, Zhitnaya Str., 117049, Moscow
                  Postal address:  1/13, Sredniy Kislovskiy Per., 103009, Moscow
                  Share in the issuer's charter capital:  9.554 % (nominee
                  holder)
                  Shareholders (participants) having in their ownership at least
                  25 % of the charter capital of the issuer's
                  shareholder (participant):  None

       19.4       Name:  Closed Joint Stock Company ING Bank (Eurasia) ZAO
                  Location:  31, Krasnaya Presnya Str., 123022, Moscow
                  Postal address:  31, Krasnaya Presnya Str., 123022, Moscow
                  Share in the issuer's charter capital:  5.126 %  (nominee
                  holder)
                  Shareholders (participants) having in their ownership at least
                  25 % of the issuer's shareholder (participant) charter
                  capital:  None

       19.5       Name:  Closed Joint Stock Company Depositary Clearing Company
                  Location:  13, 1st Tverskaya-Yamskaya Str., 125047, Moscow
                  Postal address:  14/2, Bldg. 4, Staraya Basmannaya Str.,
                  103064, Moscow
                  Share  in the  issuer's  charter  capital:  5.029  %  (nominee
                  holder)
                  Shareholders (participants) having in their ownership at least
                  25 % of the charter capital of the issuer's shareholder
                  (participant):  None

20.    Management Structure of the Issuer

       Management bodies of the issuer are:  General Shareholders Meeting, Board
       of Directors, General Director and Management Board

       Competence of the issuer's general  shareholders  (participants)  meeting
       under the issuer's charter (foundation documents):

       14.2.1. introduction of amendments and additions to this Charter with the
       exception of cases  stipulated  in Clause 4.3.  hereof,  or approval of a
       restated  version of the Charter of the Company,  which is adopted by not
       less than three  quarters  of the votes of  shareholders  holding  voting
       shares of the Company participating in the meeting, with the exception of
       cases stipulated in Clause 31.3. hereof;

       14.2.2.  the  Company's  reorganization,  the  decision on which shall be
       adopted  by not less than  three  quarters  of the votes of  shareholders
       holding voting shares of the Company participating in the meeting;

       14.2.3.  the  Company's  liquidation,   appointment  of  the  Liquidation
       Commission, approval of the interim and final liquidation balance sheets,
       the  decisions on which shall be adopted by not less than three  quarters
       of the  votes  of  shareholders  holding  voting  shares  of the  Company
       participating in the meeting;

       14.2.4.  election of members to the Board of  Directors,  the decision on
       which is adopted by cumulative voting. Premature termination of powers of
       the  members of the Board of  Directors,  the  decision on which shall be
       adopted by a simple majority of the shareholders holding voting shares of
       the Company participating in the meeting;

       14.2.5. determination of amount, nominal value, category (class) of
       authorized shares, the decision on which shall be adopted by not less
       than three quarters of the shareholders holding voting shares of the
       Company participating in the meeting;

       14.2.6. decrease of the charter capital of the Company, the decision on
       which shall be adopted by a simple majority of the shareholders holding
       voting shares of the Company participating in the meeting;

<PAGE>



       14.2.7.  election  of  members  to the  Audit  Commission  and  premature
       termination of their powers,  the decision on which shall be adopted by a
       simple majority of the shareholders  holding voting shares of the Company
       participating in the meeting;

       14.2.8.  approval of the external auditor of the Company, the decision on
       which shall be adopted by a simple  majority of the voting  shares of the
       Company participating in the meeting;

       14.2.9.  approval of the annual reports of the Company; annual accounting
       statements,  including  the profit and loss  statements  of the  Company;
       distribution of profit, including the payment (declaration) of dividends,
       approval  of the  amount,  form and  term of  dividends  payable  in each
       category  and class of shares,  approval  of losses upon the results of a
       financial  year,  the  decisions  on which  shall be  adopted by a simple
       majority  of the  Shareholders  holding  voting  shares  of  the  Company
       participating in the meeting;

       14.2.10.   approval  of  the  Regulations  on  the  Board  of  Directors,
       Regulations on the Audit Commission, Regulations on the General Director,
       Regulations  on  the  Management   Board,   Regulations  on  the  General
       Shareholders  Meeting,  as well as of  amendments  and  additions to such
       Regulations, the decisions on which shall be adopted by a simple majority
       of the shareholders holding voting shares of the Company participating in
       the meeting;

       14.2.11.   determination   of  the   procedure   for  holding  a  General
       Shareholders'  Meeting  drawn  up in the form of the  Regulations  on the
       General Shareholders Meeting, introduction of amendments and additions to
       such  Regulations,  the  decision  on which  shall be adopted by a simple
       majority  of the  shareholders  holding  voting  shares  of  the  Company
       participating in the meeting;

       14.2.12.  increase of the charter capital of the Company through increase
       of the nominal value of shares, the decision on which shall be adopted by
       a simple majority of shareholders;

       14.2.13. increase of the charter capital of the Company through placement
       of  additional  shares  by way of  public  subscription  in the event the
       number of additionally  placed shares exceeds twenty-five (25) percent of
       the ordinary  shares  outstanding;  such decision  shall be adopted by at
       least three quarters of votes of the  shareholders  holding the Company's
       voting shares participating in the meeting;

       14.2.14. increase of the charter capital of the Company through placement
       of additional Company shares by way of closed subscription; such decision
       shall be adopted by at least three quarters of votes of the  shareholders
       holding the Company's voting shares participating in the meeting;

       14.2.15. placement by the Company of bonds convertible into shares and of
       other  securities  convertible into shares in the event such bonds (other
       securities)   are  placed  by  way  of  closed   subscription  or  public
       subscription  provided that, in the event of public  subscription,  bonds
       (other securities)  convertible into Company shares may be converted into
       ordinary  shares  of the  Company  totaling  more than  twenty-five  (25)
       percent of the shares outstanding;  such decision shall be approved by at
       least  three-quarters of votes of the shareholders  holding the Company's
       voting shares participating in the meeting;

       14.2.16.  splitting  and  consolidation  of  the  Company's  shares,  the
       decision  on  which  shall  be  adopted  by  a  simple  majority  of  the
       shareholders  holding voting shares of the Company  participating  in the
       meeting;

       14.2.17.  approval of  transactions  in cases and through the  procedures
       stipulated in Clause 32 of this Charter;

<PAGE>


       14.2.18.  approval  of  major  transactions  in  cases  and  through  the
       procedure stipulated in Clause 31 of this Charter;

       14.2.19.  decision  on the  payment  (declaration)  of annual  dividends,
       approval of the amount, form and term of payment of the dividends payable
       for  each  category  and  class of  shares,  which  is  adopted  upon the
       distribution  of the  Company's  profit  and loss,  upon  results  of the
       financial year;

       14.2.20.  decision on the acquisition by the Company of its placed shares
       in cases stipulated by this Charter and the Law of the Russian Federation
       "On Joint Stock Companies", which shall be adopted by not less than three
       quarters  of the  shareholders  holding  voting  shares  of  the  Company
       participating in the meeting;

       14.2.21.  decision on participation in holding  companies,  financial and
       industrial  groups,  associations  and other  affiliations  of commercial
       organizations,  which  shall  be  adopted  by a  simple  majority  of the
       shareholders  holding voting shares of the Company  participating  in the
       meeting;

       14.2.22.  decision on matters on which  members of the Board of Directors
       have  failed to vote  unanimously,  as  required  by this  Charter or the
       federal laws of the Russian Federation, in order to adopt such decision;

       14.2.23.   reimbursement,  at  the  Company's  expense,  of  expenses  in
       connection with the preparation and holding of an  extraordinary  General
       Shareholders' Meeting in the event that, in violation of the requirements
       of the applicable laws of the Russian Federation,  the Board of Directors
       has failed to adopt the decision on convening the  extraordinary  General
       Shareholders'  Meeting  and  such  meeting  has  been  convened  by third
       persons,  the decision on which is to be adopted by a simple  majority of
       the  Shareholders  holding voting shares of the Company  participating in
       the meeting;

       14.2.24.   formation   of  the   Counting   Commission   of  the  General
       Shareholders'  Meeting,  if the number of  shareholders of the Company is
       less than 500,  the  decision  on which is to be adopted by a majority of
       the  shareholders  holding voting shares of the Company  participating in
       the meeting;

       14.2.25.  decisions on other  matters  referenced  by this Charter to the
       competence of a General Shareholders' Meeting.

       14.3.  The  General  Shareholders'  Meeting  shall be  entitled  to adopt
       decisions on the matters stipulated in Clauses 14.2.2, 14.2.10,  14.2.12,
       14.2.13,  14.2.14,  14.2.15, 14.2.16, 14.2.17, 14.2.18, 14.2.19, 14.2.20,
       14.2.21, 14.2.22 and 14.2.23, if proposed by the Board of Directors only.

       14.4. The General Shareholders' Meeting shall also be competent to decide
       on other issues which are regarded by the applicable  laws of the Russian
       Federation as within the competence of a General Shareholders' Meeting.

       The powers of the issuer's  Board of Directors  (Supervisory  Council) in
       accordance with the charter (foundation documents):

       23.2 The  competence  of the  Board of  Directors  of the  Company  shall
       include  decision-making  on matters  of the  overall  management  of the
       Company's  operations,  except  in  matters  cited  hereunder,  which are
       regarded as within the competence of the General Shareholders' Meeting.

       23.3 The following  issues shall be within the competence of the Board of
       Directors:

<PAGE>

       23.3.1 determination of the priority aspects of the Company's activities,
       including  the  approval of the  Company's  budgets,  business  plans and
       development strategies and programs;

       23.3.2 convening of the annual and  extraordinary  General  Shareholders'
       Meetings of the Company,  except in instances  provided for under Section
       55.8 of the Law of the Russian Federation "On Joint Stock Companies";

       23.3.3 approval of the agenda of the General Shareholders' Meeting;

       23.3.4  determination  of the record date for the  General  Shareholders'
       Meeting and other  issues  relegated  to the  competence  of the Board of
       Directors  of the Company  pursuant to the law of the Russian  Federation
       and this  charter,  and  related to the  preparation  and  conduct of the
       General Shareholders' Meeting;

       23.3.5 submission of the matters provided for under Clause 14.3 hereof to
       the General Shareholders' Meeting for decision;

       23.3.6 increase of the Company's  charter  capital by issuing  additional
       shares,  within the limits of the number  and  categories  of  authorized
       shares, as determined by this charter;

       23.3.7  determination  of the market value of assets under applicable law
       of the Russian Federation and this charter;

       23.3.8 decision-making  pertaining to the acquisition of shares issued by
       the Company, as well as bonds and other securities;

       23.3.9  determination of the numerical membership of the Management Board
       of the Company and appointment and premature termination of the powers of
       its members, as proposed by the General Director;

       23.3.10 recommendations  pertaining to the amount of the remuneration and
       compensation   payable  to  the  members  of  the  Audit  Commission  and
       determination  of the amount to be paid for the  services of the external
       auditor;

       23.3.11  recommendations  pertaining  to the amount of  dividends  on the
       shares of each category and class and procedure for its payment;

       23.3.12  decision-making  pertaining to the use of the reserves and other
       funds of the Company;

       23.3.13  approval  of the  Company's  internal  documents  governing  the
       matters  within the  competence of the Board of Directors of the Company,
       in accordance with the laws of the Russian  Federation,  this Charter and
       the Regulations of the Board of Directors, except the documents for which
       approval   is  regarded   as  within  the   competence   of  the  General
       Shareholders' Meeting;

       23.3.14  establishment  and  liquidation of branches;  establishment  and
       closing of the Company's  representative  offices,  approval of the Model
       Regulations on the Company Branch (representative office) and approval of
       regulations on branches  (representative offices) approved by the General
       Director and of amendments and additions thereto;

       23.3.15   decision-making   pertaining  to  the  Company's  participation
       (accession  as a  member,  termination  of  participation  or  change  of
       participatory interest) in other organizations,  including by the sale or
       purchase  of shares or interest  in other  organizations,  except for the
       instances provided under Clause 14.2.21 of this Charter;


<PAGE>


       23.3.16 decision-making  pertaining to the approval of major transactions
       in the instance provided for under Article 31 hereof;

       23.3.17 decision-making pertaining to the approval of the transactions in
       the instance provided for under Article 32 hereof;

       23.3.18  appointment and premature  dismissal of the General  Director of
       the Company;

       23.3.19  determination  of the  composition,  scope and procedure for the
       protection of information constituting a commercial secret;

       23.3.20  approval of  decisions  to issue  securities,  prospectuses  and
       reports on the results of the  issuance  of  securities;  amendments  and
       additions thereto;

       23.3.21  approval  of the  registrar  and the terms of the  agreement  on
       maintaining the Company's  shareholder  register;  decision-making on the
       termination of such an agreement with the registrar;

       23.3.22  decision-making  pertaining to the  reimbursement to the Company
       officers,  including  members  of the  Board  of  Directors,  for  losses
       incurred by such officers in  connection  with the  performance  of their
       official  duties  and/or the exercise of the powers of the Company as its
       representative as a result of claims,  complaints,  demands or amounts of
       liability  against them from any third parties,  including the government
       and municipal agencies;

       23.3.23 decision-making  pertaining to the making of insurance agreements
       to cover the liability of Company's  officers,  including  members of the
       Board  of  Directors,  for  losses  inflicted  on  third  parties  by the
       Company's  officers in the  performance of their  official  duties and/or
       exercise of the powers of the Company's representatives;

       23.3.24  review of the reports of the Audit  Commission  and the external
       auditor of the Company;

       23.3.25  approval  of the terms of the  agreements  made with the General
       Director and members of the Management Board;

       23.3.26  consideration  of  matters  related to the  remuneration  of the
       General  Director for  performance  results  pursuant to the terms of the
       agreement with the General Director of the Company;

       23.3.27  termination  of the agreement  with the General  Director in the
       event of premature termination of his/her powers;

       23.3.28  decision-making  pertaining  to the  issuance  by the Company of
       bonds,  and  other  issued  securities  where,  under  the  terms  of the
       placement  of such  shares  and  other  issued  securities,  they are not
       convertible into Company's shares;

       23.3.29  decision-making  pertaining to the placement, by the Company, of
       bonds convertible into shares and of other issued securities  convertible
       into  shares  where such bonds  (other  securities)  are placed by way of
       public  subscription  and may be converted  into the  Company's  ordinary
       shares,  amounting to 25 or less percent of the Company's ordinary shares
       outstanding;

       23.3.30 decision-making  pertaining to the introduction of amendments and
       additions  hereto  related  to  the   establishment  and  liquidation  of
       branches,  to the establishment and closing of representative  offices of
       the Company and to the results of the placement of the  Company's  shares
       in the instances provided for under this Charter;


<PAGE>


       23.3.31 election  (re-election) of the Chairman and  Vice-Chairman of the
       Board of Directors;

       23.3.32  appointment  of the  Secretary  of the  Board of  Directors  and
       determination of the amount of his/her remuneration;

       23.3.33  increase  of the  charter  capital of the  Company by way of the
       Company's placement of additional shares by public  subscription,  within
       the  limits  of  the  number  of  authorized  shares,  if the  number  of
       additionally  placed  shares is  twenty-five  (25) or less percent of the
       ordinary shares outstanding;

       23.2.34  determining the procedure for interacting with the organizations
       in which the Company participates,  including the passing of decisions on
       agenda items of the general  meetings of participants of the subsidiaries
       (the  highest  governing  bodies of  organizations  with  other  legal or
       organizational forms), in which the Company is the sole participant; and

       23.3.35  other  matters  delegated  to the  competence  of the  Board  of
       Directors  under this Charter and the law of the Russian  Federation  "On
       Joint Stock Companies".

       Competence  of  the  issuer's  sole  and  collegial   executive  body  in
       accordance with the charter (foundation documents):

       27.4 The General Director acts, without a power of attorney, on behalf of
       the Company for the following:

       -      representing the Company in the Russian Federation and abroad;

       -      presiding at the General Shareholders' Meeting, in accordance with
              the Regulations on the General Shareholders Meeting;

       -      arranging  for  execution  of  the   resolutions  of  the  General
              Shareholders' Meeting and the Board of Directors;

       -      supervising the Directorate General of the Company,  approving the
              Regulations on the Directorate  General (an apparatus of corporate
              management  of the  Company) and  determining  the  structure  and
              numerical  composition of the  Directorate  General of the Company
              and the amounts, procedures and forms of remuneration;

       -      exercising  overall  supervision of the operation of the Company's
              branches and approving  Regulations on branches and amendments and
              additions thereto subject to approval by the Board of Directors of
              the Company in accordance with the Model Regulations on the Branch
              (Representative Office) of the Company as approved by the Board of
              Directors of the Company;

       -      appointing and dismissing the directors of branches,  and entering
              into and terminating employment agreements with them;

       -      approving and endorsing the Company's internal  regulations except
              those to be  approved,  in  accordance  with  Clauses  14.2.11 and
              23.3.13 hereof, by the General Shareholders' Meeting and the Board
              of Directors;

       -      issuing orders,  directives and  instructions  that are binding on
              all the Company's employees;

       -      approving,  under an  order,  the List of Branch  Employees  to be
              appointed  (dismissed)  directly by the General  Director under an
              employment agreement (contract);

<PAGE>


       -      performing  any  transactions  on behalf of the Company within the
              limits determined under the Federal Law of the Russian  Federation
              "On Joint Stock Companies" and this Charter;

       -      possesses  the  right to affix the first  signature  to  financial
              documents;

       -      issuing powers of attorney on behalf of the Company;

       -      opening bank accounts for the Company;

       -      organizing  and  arranging  for  the  compilation  of  a  list  of
              information that can be designated  "commercial secrets";  issuing
              orders and  instructions  on compliance  with the  requirements to
              protect such commercial secrets;

       27.5 The Management  Board, the Company's  collective  executive body, is
       guided  in its  operation  by this  Charter  and the  Regulations  on the
       Management Board, which is approved at the General Shareholders' Meeting.

       27.6 The number and personal  membership of the  Management  Board of the
       Company is to be determined  by a decision of the Board of Directors,  as
       nominated by the General Director, in accordance with this Charter.

       27.7 The following management matters of the Company's current operations
       fall within the competence of the Management Board of the Company:

       (1)    determination of the Company's technical,  financial, economic and
              tariff policy;

       (2)    preparation  of  proposals  on the main  aspects of the  Company's
              operation,  including draft budgets,  business plans,  development
              strategies and programs of the Company;

       (3)    arrangements to monitor the Company's business operations;

       (4)    determination of the Company's personnel and social policy;

       (5)    preparation  of materials and draft  resolutions  on matters to be
              considered by the General  Shareholders'  Meeting and the Board of
              Directors,  including  preparation of proposals on the performance
              of  transactions  to be  approved  by  the  General  Shareholders'
              Meeting and the Board of Directors of the Company on the Company's
              participation in other organizations, etc.;

       (6)    organizational  and  technical  support for the  operations of the
              Company's bodies;

       (7)    approval  of internal  regulations  governing  matters  within the
              competence of the Management  Board of the Company except internal
              regulations which should be approved by the General  Shareholders'
              Meeting,  the Board of Directors and the  Management  Board of the
              Company;

       (8)    analysis  of  performance  results  of  the  Company's  structural
              subdivisions,   branches  and  other  separate   subdivisions  and
              issuance of binding instructions to improve their performance;

       (9)    discussion  of  organizational  matters  related to the  Company's
              branches  and  representative  offices  and of other  matters,  in
              accordance with the Regulations on the Management Board.

       The  Management  Board of the Company  may also  decide on other  matters
       pertaining to the management of the Company's current  operations,  based
       on  instructions  from the  Board of

<PAGE>



       Directors,  or as proposed by the General Director of the Company, except
       decisions  pertaining  to  matters  delegated  to the  competence  of the
       General Shareholders' Meeting or the Board of Directors of the Company.

21.    Members of  Issuer's  Board of  Directors  (Supervisory  Council)  of the
       Issuer


       The Board of Directors

       Chairman:  Valery Nikolaevich Yashin

       Members of the Board of Directors:

       Vadim Evgenievich Belov
       Year of birth:  1958

       Positions held during the last 5 years:

       Period:  1997 - 1998
       Organization:  Joint Stock Commercial Bank "Mezhdunarodnaya Finansovaya
       Kompaniya" ("International Financial Company")
       Scope of activities:  banking
       Title:  Deputy Chairman of the Management Board

       Period:  1998 - 1999
       Organization:  Moscow representative office of SPK Capital Limited
       Scope of activities:  finance
       Title:  managing director

       Period:  1999 - present time
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  Deputy General Director, Member of the Management Board

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Nikolai Pavlovich Emelianov
       Year of birth:  1948

       Positions held during the last 5 years:

       Period:  1995 - present time
       Organization:  Open Joint Stock Company Novgorodtelecom
       Scope of activities:  communications
       Title:  General Director

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

<PAGE>



       Sergei Ivanovich Kuznetsov
       Year of birth:  1953

       Positions held during the last 5 years:

       Period:  1995 - 1998
       Organization:  Open Joint Stock Company Telecominvest
       Scope of activities:  communications
       Title:  General Director

       Period:  1998 - 2001
       Organization:  Open Joint Stock Company Peter Star
       Scope of activities:  communications
       Title:  General Director

       Period:  2001 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  General Director

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Alexander Vladimirovich Lopatin
       Year of birth:  1964

       Positions held during the last 5 years:

       Period:  1995 - 1999
       Organization:  RAO UES Russia
       Scope of activities:  energy
       Title:  Deputy Director for Asset Management, Director for Asset
       Management - Deputy Chief of Finance Department, Director of
       Treasury

       Period:  1999 - 2000
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  First Deputy General Director

       Period:  2000 - present time
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  Deputy General Director, Member of the Management Board

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Anton Igorevich Osipchuk
       Year of birth:  1967


<PAGE>



       Positions held during the last 5 years:

       Period:  1997 - 2000
       Organization:  Open Joint Stock Company Telecominvest
       Scope of activities:  communications
       Title:  Deputy General Director of Economics and Finance

       Period:  2000 - present time
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  First Deputy General Director, member of the Management Board

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Stanislav Nikolaevich Panchenko
       Year of birth:  1945

       Positions held during the last 5 years:

       Period:  1996 - present time
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  Deputy General Director, member of the Management Board

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Viktor Abramovich Polischuk
       Year of birth:  1938

       Positions held during the last 5 years:

       Period:  1995 - present time
       Organization:  Open Joint Stock Company Rossiyskaya
       Telekommunikatsionnaya Set ("Russian Telecommunications Network")
       Scope of activities:  communications
       Title:  President

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Irina Mikhailovna Ragozina
       Year of birth:  1950

       Positions held during the last 5 years:

<PAGE>


       Period:  1997 - 1999
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  Head of Service for Share Blocks Management

       Period:  1999 - present time
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  Director of Corporate Governance Department

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Mikhail Viktorovich Slipenchuk
       Year of birth:  1965

       Positions held during the last 5 years:

       Period:  1997 - 1998
       Organization:  Commercial Bank Metropol
       Scope of activities:  finance
       Title:  Head of Securities Department, Chairman of the Management Board
       on Equity Market

       Period:  1998 - present time
       Organization:  Limited Liability Company Investment Financial Company
       Metropol
       Scope of activities:  finance
       Title:  General Director

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Grigory Moiseevich Finger
       Year of birth:  1966

       Positions held during the last 5 years:

       Period:  1995 - present time
       Organization:  Lindsell Enterprises Limited
       Scope of activities:  finance
       Title:  Authorized Representative

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Valeriy Nikolaevich Yashin
       Year of birth:  1941

<PAGE>



       Positions held during the last 5 years:

       Period:  1995 - 1999
       Organization:  Open Joint Stock Company "Peterburgskaya Telefonnaya Set"
       ("Petersburg Telephone Network")
       Scope of activities:  communications
       Title:  General Director

       Period:  1999 - present time
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  General Director

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

22.    Sole and Collegial Management Bodies of the Issuer and Executive Officers
       of the Management Organization of the Issuer

       Sole executive body and members of the collective executive body of the
       issuer:

       Sergei Ivanovich Kuznetsov
       Year of birth:  1953

       Positions held during the last 5 years:

       Period:  1995 - 1998
       Organization:  Closed Joint Stock Company Telecominvest
       Scope of activities:  communications
       Title:  General Director

       Period:  1998 - 2001
       Organization:   Closed Joint Stock Company Peter Star
       Scope of activities:  communications
       Title:  General Director

       Period:  2001 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  General Director

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Vladimir Ivanovich Androsik
       Year of birth:  1975

       Positions held during the last 5 years:

<PAGE>



       Period:  1997 - 2001
       Organization:    Closed Joint Stock Company Peter Star
       Scope of activities:  communications
       Title:  Junior Specialist, Specialist, Senior Specialist, Finance
       Manager, Deputy Finance Director for Management Accounting

       Period:  2001 - 2001
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Advisor to General Director for Economy and Finance

       Period:  2001 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Deputy General Director - Finance Director

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Dmitry Evgenievich Erokhin
       Year of birth:  1950

       Positions held during the last 5 years:

       Period:  1997 - 2001
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Deputy General Director - Director of TTsMS-9 Branch

       Period:  2001 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  First Deputy General Director

       Share in the issuer's charter capital:  0.0004%
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Igor Viktorovich Zabolotny
       Year of birth:  1967

       Positions held during the last 5 years:

       Period:  1997 - 1998
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Executive Director - Chief of Local Long-Distance and
       International Telephone Services and Tariffs Operations and
       Planning Department

       Period:  1998 - 1999
       Organization:  Open Joint Stock Company Rostelecom


<PAGE>



       Scope of activities:  communications
       Title:  Executive Director - Chief of General Operations of
       Telecommunications Services Department

       Period:  1999 - present time
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  Executive Director - Director of Marketing and Service Sales
       Department

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Vadim Yurievich Izotov
       Year of birth:  1968

       Positions held during the last 5 years:

       Period:  1995 - 2001
       Organization:  Closed Joint Stock Company Severo-Zapadny GSM
       ("North-West GSM")
       Scope of activities:  communications
       Title:  System Programmer, Senior Engineer, Head of Group, Deputy
       Director - Chief of Information Technology Department Group

       Period:  2001 - 2001
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Advisor to General Director on Informational Technologies

       Period:  2001 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Deputy General Director - Director for Informational
       Technologies

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Alexander Vladimirovich Lopatin
       Year of birth:  1964

       Positions held during the last 5 years:

       Period:  1995 - 1999
       Organization:  RAO UES Russia
       Scope of activities:  energy
       Title:  Deputy Director for Asset Management, Director for Asset
       Management - Deputy Finance Director, Director of Treasury

       Period:  1999 - 2000
       Organization:  Open Joint Stock Company Svyazinvest

<PAGE>


       Scope of activities:  communications
       Title:  First Deputy General Director

       Period:  2000 - present time
       Organization:  Open Joint Stock Company Svyazinvest
       Scope of activities:  communications
       Title:  Deputy General Director, Member of the Management Board

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Alexander Alexandrovich Lutsky
       Year of birth:  1972

       Positions held during the last 5 years:

       Period:  1997 - 2000
       Organization:  Closed Joint Stock Company Sankt-Peterburgskie Taksofony
       ("Saint-Petersburg Payphones")
       Scope of activities:  communications
       Title:  Finance Director

       Period:  2000 - 2001
       Organization:  Closed Joint Stock Company Petersburg Transit Telecom
       Scope of activities:  communications
       Title:  Finance Director

       Period:  2001 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Chief Accountant

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Vladimir Konstantinovich Mironov
       Year of birth:  1956

       Positions held during the last 5 years:

       Period:  1997 - 2000
       Organization:  Armed Forces of the Russian Federation
       Scope of activities:  military
       Title:  Military Servant

       Period:  2001 - 2002
       Organization:  Closed Joint Stock Company Peter Star
       Scope of activities:  communications
       Title:  Regime and Security Department Director, Security Department
       Director

<PAGE>


       Period:  2002 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Deputy General Director for Human Resources and Security

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Alexander Viktorovich Mikhalev
       Year of birth:  1958

       Positions held during the last 5 years:

       Period:  1997 - 1999
       Organization:  Closed Joint Stock Company Delta Telecom
       Scope of activities:  communications
       Title:  Senior Construction Manager, Senior Network Maintenance Manager

       Period:  1999 - 2001
       Organization:  Closed Joint Stock Company Peter Star
       Scope of activities:  communications
       Title:  Deputy Director for General Matters

       Period:  2001 - 2002
       Organization:  Closed Joint Stock Company Petersburg Transit Telecom
       Scope of activities:  communications
       Title:  Acting Director of Administrative Department, Administrative
       Department Director

       Period:  2002 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Counsel to General Director, Deputy General Director -
       Administrative Director

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Marina Dmitrievna Oleshek
       Year of birth:  1961

       Positions held during the last 5 years:

       Period:  1997 - 1998
       Organization:  Erport Management Company Limited
       Scope of activities:  information and human resources service
       Title:  Human Resources Director

       Period:  1998 - 1999
       Organization:   Vacant
       Scope of activities:  information and human resources service
       Title:  General Director

<PAGE>


       Period:  1999 - 2001
       Organization:  Open Joint Stock Company Vympelcom
       Scope of activities:  communications
       Title:  Personnel Director

       Period:  2001 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Deputy General Director of Rostelecom-Director for Structure
       Development and Personnel Administration

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Vladimir Vladimirovich Terekhov
       Year of birth:  1958

       Positions held during the last 5 years:

       Period:  1997 - 2001
       Organization:  Closed Joint Stock Company Peter Star
       Scope of activities:  communications
       Title:  Engineer of radio relay stations, Manager, Senior Manager,
       Deputy Technical Director on Development and Engineering

       Period:  2001 - 2002
       Organization:  Closed Joint Stock Company Petersburg Transit Telecom
       Scope of activities:  communications
       Title:  Deputy General Director for Technical Development, Deputy General
       Director - Technical Director

       Period:  2002 - present time
       Organization:  Open Joint Stock Company Rostelecom
       Scope of activities:  communications
       Title:  Deputy General Director  - Technical Director

       Share in the issuer's charter capital:  None
       Shares in the issuer's subsidiaries/dependent companies:  None

       Remuneration paid in reporting quarter:
       This information is confidential

       Person performing the functions of the sole executive body of the issuer:
       Sergei Ivanovich Kuznetsov

23.    Remuneration Paid to the Board of Directors (Supervisory Council) Members
       and Other Executive Officers of the Issuer

       Total remuneration paid to all persons listed in items 21 and 22 in
       reporting period:
       Salary (rub.): 3 336 819.53
       Bonuses (rub.):  18 895 075
       Commission (rub.):  0


<PAGE>


       Other benefits in kind (rub.):  0
       Total (rub.):  22 231 894.53

       See also items 21 and 22

24.    Information on Legal Entities with Issuer's Participation

       Legal  entities  in which the issuer  owns not less than 5 percent of the
       charter capital

       Name:  Subsidiary Rest House Malakhit
       Location:  15, Scherbakova Str., 334200, Yalta, Autonomous Republic of
       Crimea, Ukraine
       Postal address:  15, Scherbakova Str., 334200, Yalta, Autonomous Republic
       of Crimea, Ukraine
       Issuer's share in the charter capital of the legal entity:  100 %

       Name:  Closed Joint Stock Company Westelcom
       Location:  26, Suschevsky Val, 127018, Moscow
       Postal address:  26, Suschevsky Val, 127018, Moscow
       Issuer's share in the charter capital of the legal entity:  100 %

       Name:  Limited Liability Company INFORMTEK
       Location:  7, Sohanya Str., 334200, Yalta, Autonomous Republic of Crimea,
       Ukraine
       Postal address:  7, Sohanya Str., 334200, Yalta, Autonomous Republic of
       Crimea, Ukraine
       Issuer's share in the charter capital of the legal entity:  99.9 %

       Name:  Closed Joint Stock Company RTC-Center
       Location:  5, Delegatskaya Str., 127091, Moscow
       Postal address:  15a, Kalanchevskaya Str., 107078, Moscow
       Issuer's share in the charter capital of the legal entity:  99.001 %

       Name:  Closed Joint Stock Company ROSPAC
       Location:  2a, Bryusov Per., 103009, Moscow
       Postal address:  2a, Bryusov Per., 103009, Moscow
       Issuer's share in the charter capital of the legal entity:  90.8 %

       Name:  Limited Liability Company RTC-Sibir
       Location:  246, Karl Marx Str., 660100, Krasnoyarsk
       Postal address:  246, Karl Marx Str., 660100, Krasnoyarsk
       Issuer's share in the charter capital of the legal entity:  90 %

       Name:  Closed Joint Stock Company Telecomcity
       Location:  5, Delegatskaya Str., 127091, Moscow
       Postal address:  5, Delegatskaya Str., 127091, Moscow
       Issuer's share in the charter capital of the legal entity:  80 %

       Name:  Commercial Bank Russky Aktseptny Bank ("Russian Acceptance Bank")
       Location:  15a, Kalanchevskaya Str., 107078, Moscow
       Postal address:  15a, Kalanchevskaya Str., 107078, Moscow
       Issuer's share in the charter capital of the legal entity:  77.59 %

       Name:  Closed Joint Stock Company RTC-Internet
       Location:  5, Delegatskaya Str., 127091, Moscow
       Postal address:  15a, Kalanchevskaya Str., 107078, Moscow
       Issuer's share in the charter capital of the legal entity:  63.5 %

       Name:  Closed Joint Stock Company Insurance Company Costars

<PAGE>

       Location:  Apt. 33-08, 42, Bldg. 3, Leninsky Prospect, 117119, Moscow
       Postal address:  15a, Kalanchevskaya Str., 107078, Moscow
       Issuer's share in the charter capital of the legal entity:  60 %

       Name:  Closed Joint Stock Company Moskovsky Center Novikh Technologiy
       Telecommunikatsiy
       Location:  46, Arbat Str., 121002, Moscow
       Postal address:  46, Arbat Str., 121002, Moscow
       Issuer's share in the charter capital of the legal entity:  60 %

       Name:  Closed Joint Stock Company Inzhenerny Tsentr ("Engineering
       Center")
       Location:  16, Kazakova Str., 103064, Moscow
       Postal address:  16, Kazakova Str., 103064, Moscow
       Issuer's share in the charter capital of the legal entity:  60 %

       Name:  Closed Joint Stock Company Incom
       Location:  27/26, Bldg. 3d, Zubovsky Boulevard, 119021, Moscow
       Postal address:  27/26, Bldg. 3d, Zubovsky Boulevard, 119021, Moscow
       Issuer's share in the charter capital of the legal entity:  54.4 %

       Name:  Closed Joint Stock Company Telebarents
       Location:  37, Parkovaya Str., 185014, Petrozavodsk
       Postal address:  37, Parkovaya Str., 185014, Petrozavodsk
       Issuer's share in the charter capital of the legal entity:  51 %

       Name:  Closed Joint Stock Company Globalstar Space Telecommunications
       (Globaltel)
       Location:  25, Bldg. 2, Dubovaya Roscha Str., 127427, Moscow
       Postal address:  Office 500, 15, B. Cherkassky Per., 103626 Moscow
       Issuer's share in the charter capital of the legal entity:  51 %

       Name:  Closed Joint Stock Company Rostelecomport
       Location:  22, Oktyabrskaya Str., 188450 Kingisepp, Russia
       Postal address:  22, Oktyabrskaya Str., 188450 Kingisepp, Russia
       Issuer's share in the charter capital of the legal entity:  50 %

       Name:  Closed Joint Stock Company Aquapark-RT
       Location:  5, Delegatskaya Str., 127091, Moscow
       Postal address:  5, Delegatskaya Str., 127091, Moscow
       Issuer's share in the charter capital of the legal entity:  50 %

       Name:  Closed Joint Stock Company Telecom-Tsentr ("Telecom-Center")
       Location:  25, Dubovaya Roscha Str., 127427, Moscow
       Postal address:  25, Dubovaya Roscha Str., 127427, Moscow
       Issuer's share in the charter capital of the legal entity:  45 %

       Name:  Closed Joint Stock Company Teleport-TP
       Location:  All-Russia Exhibition Center, Prospect Mira, 129223 Moscow
       Postal address:  All-Russia Exhibition Center, Prospect Mira, 129223
       Moscow
       Issuer's share in the charter capital of the legal entity:  44 %

       Name:  Open Joint Stock Company Tsentralnaya Kompaniya Delovaya Set
       ("Central Company Business Network")
       Location:  1, Bldg. 2, Marshala Vasilevskogo Str., 123098 Moscow
       Postal address:  1, Bldg. 2, Marshala Vasilevskogo Str., 123098 Moscow
       Issuer's share in the charter capital of the legal entity:  43.5 %

<PAGE>



       Name:  Autonomous Non-Commercial Organization NTTsS TsNIIS-RTC
       Location:  8, 1st Proezd Perova Polya, 111141 Moscow
       Postal address:  8, 1st Proezd Perova Polya, 111141 Moscow
       Issuer's share in the charter capital of the legal entity:  40 %

       Name:  Open Joint Stock Company MMTS-9
       Location:  7, Butlerova Str., 117485 Moscow
       Postal address:  7, Butlerova Str., 117485 Moscow
       Issuer's share in the charter capital of the legal entity:  36.86 %

       Name:  Closed Joint Stock Company Razbeg-Marafon
       Location:  56, Trifonovskaya, 129110 Moscow
       Postal address:  56, Trifonovskaya, 129110 Moscow
       Issuer's share in the charter capital of the legal entity:  33.33 %

       Name:  Open Joint Stock Company RTComm.RU
       Location:  15a, Kalanchevskaya Str., 107078 Moscow
       Postal address:  15a, Kalanchevskaya Str., 107078 Moscow
       Issuer's share in the charter capital of the legal entity:  31.1 %

       Name:  Open Joint Stock Company Teleradiocompaniya Yalta ("Yalta
       Broadcasting")
       Location:  7, Sokhanya Str., 334200 Yalta, Crimea, Ukraine
       Postal address:  7, Sokhanya Str., 334200 Yalta, Crimea, Ukraine
       Issuer's share in the charter capital of the legal entity:  30 %

       Name:  Open Joint Stock Company RTC-Leasing
       Location:  5, Delegatskaya Str., 127091 Moscow
       Postal address:  42, Bld. 2 Schepkina Str., 129110 Moscow
       Issuer's share in the charter capital of the legal entity:  27.12 %

       Name:  Closed Joint Stock Company Informcouriersvyaz
       Location:  6, Bldg. 1, 4th Mikhailovsky Proezd, 117419 Moscow
       Postal address:  6, Bldg. 1, 4th Mikhailovsky Proezd, 117419 Moscow
       Issuer's share in the charter capital of the legal entity:  25.25 %

       Name:  Closed Joint Stock Company Rustel
       Location:  10/4, Staraya Ploschad, 103070, Moscow
       Postal address:  10/4, Staraya Ploschad, 103070, Moscow
       Issuer's share in the charter capital of the legal entity:  25 %

       Name:  Non-governmental Pension Fund Rostelecom-Garantia
       Location:  5, Delegatskaya Str., 127091 Moscow
       Postal address:  15a, Kalanchevskaya Str., 107078 Moscow
       Issuer's share in the charter capital of the legal entity:  24.85 %

       Name:  Open Joint Stock Company Moskovskaya Sotovaya Svyaz ("Moscow
       Cellular Communications")
       Location:  18/20, Vorontsovskaya Str., 109044, Moscow
       Postal address:  18/20, Vorontsovskaya Str., 109044, Moscow
       Issuer's share in the charter capital of the legal entity:  23.5 %

       Name:  Closed Joint Stock Company NTTs Comset
       Location:  7, Zelyony Pr., 111141, Moscow
       Postal address:  7, Zelyony Pr., 111141, Moscow
       Issuer's share in the charter capital of the legal entity:  22.18 %

<PAGE>



       Name:  Limited Liability Company ChOP Rostelecom-Bezopasnost
       ("Rostelecom-Security")
       Location:  2, Bldg. 2, Deguninskaya Str., 127486, Moscow
       Postal address:  2, Bldg. 2, Deguninskaya Str., 127486, Moscow
       Issuer's share in the charter capital of the legal entity:  20 %

       Name:  Closed Joint Stock Company Telmos
       Location:  15, Zemledelchesky Per., 119121, Moscow
       Postal address:  15, Zemledelchesky Per., 119121, Moscow
       Issuer's share in the charter capital of the legal entity:  20 %

       Name:  Closed Joint Stock Company MS-Trust
       Location:  18/20, Bldg. 2, Vorontsovskaya Str., 109044, Moscow
       Postal address:  18/20, Bldg. 2, Vorontsovskaya Str., 109044, Moscow
       Issuer's share in the charter capital of the legal entity:  20 %

       Name:  Limited Liability Company Medicom-33
       Location:  16, Malakhitovaya Str., 129128, Moscow
       Postal address:  16, Malakhitovaya Str., 129128, Moscow
       Issuer's share in the charter capital of the legal entity:  18.52 %

       Name:  Limited Liability Company Arkhangelskaya GTS
       Location:  4, Priorova Str., 163071, Arkhangelsk
       Postal address:  4, Priorova Str., 163071, Arkhangelsk
       Issuer's share in the charter capital of the legal entity:  17 %

       Name:  Closed Joint Stock Company RT-Radiotext
       Location:  12, Akademika Korolyova Str., 127427, Moscow
       Postal address:  12, Akademika Korolyova Str., 127427, Moscow
       Issuer's share in the charter capital of the legal entity:  15 %

       Name:  Closed Joint Stock Company Transportniye Tsifroviye Seti
       ("Transport Digital Networks")
       Location:  TTsMS-21, Posyolok Sosnovka, Odintsovsky District, Moscow
       Region, 143070
       Postal address:  TTsMS-21, Posyolok Sosnovka, Odintsovsky District,
       Moscow Region, 143070
       Issuer's share in the charter capital of the legal entity:  15 %

       Name:  Limited Liability Company Tver Telecom
       Location:  24, Novotorzhskaya Str., 170000, Tver
       Postal address:  24, Novotorzhskaya Str., 170000, Tver
       Issuer's share in the charter capital of the legal entity:  15 %

       Name:  Golden Telecom, Inc.
       Location:  National Corporate Research Ltd. In the City of Dover, County
       of Kent, State of Delaware, USA
       Postal address:  615 South DuPont, Highway, Dover, 19901 USA
       Issuer's share in the charter capital of the legal entity:  15 %

       Name:  Limited Liability Partnership RON
       Location:  5, Delegatskaya Str., 127091, Moscow
       Postal address:  5, Delegatskaya Str., 127091, Moscow
       Issuer's share in the charter capital of the legal entity:  12.4 %

       Name:  Closed Joint Stock Company Expo-Telecom
       Location:  7, Tverskaya Str., 103375, Moscow
       Postal address:  7, Tverskaya Str., 103375, Moscow
       Issuer's share in the charter capital of the legal entity:  11.12 %

       Name:  Closed Joint Stock Company TV-Inform
       Location:  1, Rusakovskaya Nab., 106076, Moscow
       Postal address:  1, Rusakovskaya Nab., 106076, Moscow

<PAGE>

       Issuer's share in the charter capital of the legal entity:  10.5 %

       Name:  Open Joint Stock Company Avianet
       Location:  Apartment 7, 37, Leningradsky Prospect., 109052, Moscow
       Postal address:  Apartment 7, 37, Leningradsky Prospect., 109052, Moscow
       Issuer's share in the charter capital of the legal entity:  10.3 %

       Name:  Closed Joint Stock Company Telekros
       Location:  27, Presnensky Val, 123557, Moscow
       Postal address:  27, Presnensky Val, 123557, Moscow
       Issuer's share in the charter capital of the legal entity:  10 %

       Name:  Closed Joint Stock Company VestBalt Telecom
       Location:  32, Leninsky Pr., 236040, Kaliningrad
       Postal address:  32, Leninsky Pr., 236040, Kaliningrad
       Issuer's share in the charter capital of the legal entity:  10 %

       Name:  Closed Joint Stock Company Sankt-Peterburgskiy Center
       Electrosvyazi
       Location:  24, Prospect Bolshevikov, 193232, Saint-Petersburg
       Postal address:  24, Prospect Bolshevikov, 193232, Saint-Petersburg
       Issuer's share in the charter capital of the legal entity:  9.4 %

       Name:  Association of Telecommunications of Povolzhye Region
       Location:  1/3, Kuprina Str., 440606, Penza
       Postal address:  1/3, Kuprina Str., 440606, Penza
       Issuer's share in the charter capital of the legal entity:  9.09 %

       Name:  Closed Joint Stock Company Registrator-svyaz
       Location:  15a, Kalanchevskaya Str., 107078 Moscow
       Postal address:  15a, Kalanchevskaya Str., 107078 Moscow
       Issuer's share in the charter capital of the legal entity:  8.64 %

       Name:  Closed Joint Stock Company Ramsatcom
       Location:  32-A, Leninsky Prospect, 117334, Moscow
       Postal address:  3, Bldg, 2, 109028, Moscow
       Issuer's share in the charter capital of the legal entity:  6.55 %

       Name:  Closed Joint Stock Company Teleinf
       Location:  Office 1042, 19, Akademika Korolyova Str., 127427, Moscow
       Postal address:  Office 1042, 19, Akademika Korolyova Str., 127427,
       Moscow
       Issuer's share in the charter capital of the legal entity:  6.25 %

       Name:  Closed Joint Stock Company Rossiyskiye Informatsionniye Tsentry
       ("Russian Information Centers")
       Location:  3, 1st Tverskaya-Yamskaya Str., 125047, Moscow
       Postal address:  3, 1st Tverskaya-Yamskaya Str., 125047, Moscow
       Issuer's share in the charter capital of the legal entity:  6.18 %

       Name:  Limited Liability Company Svyaz Expertiza
       Location:  22, Bldg. 22, Marxistskaya Str., 109147, Moscow
       Postal address:  22, Bldg. 22, Marxistskaya Str., 109147, Moscow


<PAGE>



       Issuer's share in the charter capital of the legal entity:  5.7 %

       Name:  Non-Commercial Partnership Tsentr Issledovaniy Problem Razvitiya
       Telecommunikatsiy
       Location:  55., Bldg. 2, Plyuschikha Str., 119121, Moscow
       Postal address:  55., Bldg. 2, Plyuschikha Str., 119121, Moscow
       Issuer's share in the charter capital of the legal entity:  0 %

       Name:  Association of Telecommunications of Tsentralno-Tchernozemny
       Region
       Location:  Central District of the City of Voronezh
       Postal address:  35, Prospect Revolyutsii, 394000, Voronezh
       Issuer's share in the charter capital of the legal entity:  0 %

       Name:  Association of Operators of the Federal Network of Business
       Services ISKRA
       Location:  40, Leninsky Prospect, 117334, Moscow
       Postal address:  40, Leninsky Prospect, 117334, Moscow
       Issuer's share in the charter capital of the legal entity:  0 %

       Name:  Association of Communications Enterprises of Sibir and Far East
       Location:  8, Bogdanova Per., 664011, Irkutsk
       Postal address:  8, Bogdanova Per., 664011, Irkutsk
       Issuer's share in the charter capital of the legal entity:  0 %

25.    Participating Shares of All Legal Entities where the Issuer Owns 5 % of
       the Charter Capital, and Shares of the Executives of
       Such Legal Entities in the Issuer's Charter Capital

       25.1       Name:  Closed Joint Stock Company Westelcom
                  Location:  26, Suschevsky Val, 127018, Moscow
                  Postal address:  26, Suschevsky Val, 127018, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  100 %
                  This entity's share in the issuer's charter capital:  None

       25.2       Name:  Subsidiary Rest House Malakhit
                  Location:  15, Scherbakova Str., Yalta, Autonomous Republic of
                  Crimea, 334200, Ukraine
                  Postal address:  15, Scherbakova Str., Yalta, Autonomous
                  Republic of Crimea, 334200, Ukraine
                  Issuer's share in the charter capital of the legal entity:
                  100 %
                  This entity's share in the issuer's charter capital:  None

       25.3       Name:  Limited Liability Company INFORMTEK
                  Location:  7, Sokhanya Str., Yalta, Autonomous Republic of
                  Crimea, 334200, Ukraine
                  Postal address:  7, Sokhanya Str., Yalta, Crimea, 334200,
                  Ukraine
                  Issuer's share in the charter capital of the legal entity:
                  99.9 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.2.1   Yuly Pavlovich Konontsev
                           Functions of this person:  Sole Executive Body
                           This person's share in the issuer's charter capital:
                           0.0002 %

       25.4       Name:  Closed Joint Stock Company RTC-Center
                  Location:  5, Delegatskaya Str., 127091, Moscow

<PAGE>


                  Postal address:  15a, Kalanchevskaya Str., 107078 Moscow
                  Issuer's share in the charter capital of the legal entity:
                  99.001 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.4.1  Pavel Ivanovich Alpetyan
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.001 %

       25.5       Name:  Closed Joint Stock Company Rospak
                  Location:  2a, Bryusov Per., 103009, Moscow
                  Postal address:  2a, Bryusov Per., 103009, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  90.8 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.5.1  Viktor Anatolievich Grishkevich
                           Functions of this person:  Sole Executive Body
                           This person's share in the issuer's charter capital:
                           0.0007 %

                  25.5.2  Pavel Ivanovich Alpetyan
                           Functions of this person:  Member of the Board of
                           Directors (Supervisory Council)
                           This person's share in the issuer's charter capital:
                           0.001 %

       25.6       Name:  Limited Liability Company RTC-Sibir
                  Location:  246, Karl Marx Str., 660100, Krasnoyarsk
                  Postal address:  246, Karl Marx Str., 660100, Krasnoyarsk
                  Issuer's share in the charter capital of the legal entity:
                  90 %
                  This entity's share in the issuer's charter capital:  None

       25.7       Name:  Closed Joint Stock Company Telecomcity
                  Location:  5, Delegatskaya Str., 127091, Moscow
                  Postal address:  5, Delegatskaya Str., 127091, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  80 %
                  This entity's share in the issuer's charter capital:  None

       25.8       Name:  Commercial Bank Russkiy Aktseptny Bank
                  Location:  15a Kalanchevskaya Str., 107078 Moscow
                  Postal address:  15a Kalanchevskaya Str., 107078 Moscow
                  Issuer's share in the charter capital of the legal entity:
                  77.59 %
                  This entity's share in the issuer's charter capital:  None

       25.9       Name:  Closed Joint Stock Company RTC-Internet
                  Location:  5 Delegatskaya Str., 127091 Moscow
                  Postal address:  15a Kalanchevskaya Str., 107078 Moscow
                  Issuer's share in the charter capital of the legal entity:
                  63.5 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.9.1  Pavel Ivanovich Alpetyan
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory

<PAGE>


                          Council)
                          This person's share in the issuer's charter capital:
                          0.001 %

                  25.9.2  Igor Vladimirovich Kocheshkov
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0007 %

                  25.9.3  Viktor Anatolievich Grishkevich
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0007 %

       25.10      Name:   Closed Joint Stock Company Inzhenerny Center
                  Location:  16, Kazakova Str., 103064, Moscow
                  Postal address:  16, Kazakova Str., 103064, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  60 %
                  This entity's share in the issuer's charter capital:  None

       25.11      Name:  Closed Joint Stock Company Insurance Company Costars
                  Location:  Apartment 33-08, 42, Bldg. 42, Leninsky Prospect,
                  117119, Moscow
                  Postal address:  15a Kalanchevskaya Str., 107078 Moscow
                  Issuer's share in the charter capital of the legal entity:
                  60 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.11.1 Dmitry Evgenievich Erokhin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0004 %

       25.12      Name:  Closed Joint Stock Company Moskovskiy Tsentr Novykh
                  Tekhnologiy Telekommunikatsiy
                  Location:  46, Arbat Str., 121002, Moscow.
                  Postal address:  46, Arbat Str., 121002, Moscow.
                  Issuer's share in the charter capital of the legal entity:
                  60 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.12.1 Dmitry Evgenievich Erokhin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory
                          Council)
                          This person's share in the issuer's charter capital:
                          0.0004 %

       25.13      Name:  Closed Joint Stock Company Incom
                  Location:  27/26, Bldg. 3d, Zubovsky Blvd., 119021, Moscow
                  Postal address:  27/26, Bldg. 3d, Zubovsky Blvd., 119021,
                  Moscow
                  Issuer's share in the charter capital of the legal entity:
                  54.4 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.13.1 Dmitry Evgenievich Erokhin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory

<PAGE>

                          Council)
                          This person's share in the issuer's charter capital:
                          0.0004 %

       25.14      Name:  Closed Joint Stock Company Telebarents
                  Location:  37, Parkovaya Str., 185014, Petrozavodsk
                  Postal address:  37, Parkovaya Str., 185014, Petrozavodsk
                  Issuer's share in the charter capital of the legal entity:
                  51 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.14.1 Alexei Alexeevich Domoroschin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0075 %

       25.15      Name:  Closed Joint Stock Company Globalstar Space
                  Telecommunications (Globaltel)
                  Location:  25, Bldg. 2, Dubovaya Roscha Str., 127427 Moscow
                  Postal address:  Office 500, 15, Bolshoy Cherkassky Per.,
                  103626 Moscow
                  Issuer's share in the charter capital of the legal entity:
                  51 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.15.1 Dmitry Evgenievich Erokhin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0004 %

       25.16      Name:  Closed Joint Stock Company Aquapark-RT
                  Location:  5, Delegatskaya Str., 127091, Moscow
                  Postal address:  5, Delegatskaya Str., 127091, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  50 %
                  This entity's share in the issuer's charter capital:  None

       25.17      Name:  Closed Joint Stock Company Rostelecomport
                  Location:  22, Oktyabrskaya Str., 188450, Kingisepp
                  Postal address:  22, Oktyabrskaya Str., 188450, Kingisepp
                  Issuer's share in the charter capital of the legal entity:
                  50 %
                  This entity's share in the issuer's charter capital:  None

       25.18      Name:  Closed Joint Stock Company Telecom-Center
                  Location:  25, Dubovaya Roscha Str., 127427, Moscow
                  Postal address:  25, Dubovaya Roscha Str., 127427, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  45 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.18.1 Anatoly Grigorievich Uryev
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.001 %

                  25.18.2 Gennady Efimovich Itkis

<PAGE>



                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.001 %

                  25.18.3 Dmitry Evgenievich Erokhin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0004 %

       25.19      Name:  Closed Joint Stock Company Teleport-TP
                  Location:  All-Russia Exhibition Center, Prospect Mira,
                  129223, Moscow
                  Postal address:  All-Russia Exhibition Center, Prospect Mira,
                  129223, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  44 %
                  This entity's share in the issuer's charter capital:  None

       25.20      Name:  Open Joint Stock Company Tsentralnaya Kompaniya
                  Delovaya Set
                  Location:  1, Bldg. 2, Marshala Vasilevskogo Str., 123098,
                  Moscow
                  Postal address:  1, Bldg. 2, Marshala Vasilevskogo Str.,
                  123098, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  43.5 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.20.1 Oleg Gennadievich Belov
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                           0.0051 %

                  25.20.2 Viktor Anatolievich Grishkevich
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0007 %

       25.21      Name:  Autonomous Non-Commercial Organization NTTsS TsNIIS-
                  RTC
                  Location:  8, 1st Proezd Perova Polya, 111141, Moscow
                  Postal address:  8, 1st Proezd Perova Polya, 111141, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  40 %
                  This entity's share in the issuer's charter capital:  None

       25.22      Name:  Open Joint Stock Company MMTS-9
                  Location:  7, Butlerova Str., 117485, Moscow
                  Postal address:  7, Butlerova Str., 117485, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  36.86 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.22.1 Boris Vasilyevich Zverev
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0178 %

                  25.22.2 Dmitry Evgenievich Erokhin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This entity's share in the issuer's charter capital:
                          0.0004 %

<PAGE>



       25.23      Name:  Closed Joint Stock Company Razbeg-Marafon
                  Location:  56, Trifonovskaya Str., 129110, Moscow
                  Postal address:  56, Trifonovskaya Str., 129110, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  33.33 %
                  This entity's share in the issuer's charter capital:  None

       25.24      Name:  Open Joint Stock Company RTComm.Ru
                  Location:  15a, Kalanchevskaya Str., 107078, Moscow
                  Postal address:  15a, Kalanchevskaya Str., 107078, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  31.1 %
                  This entity's share in the issuer's charter capital:  None

       25.25      Name:  Open Joint Stock Company Teleradiocompaniya Yalta
                  Location:  Sokhanya Str., Yalta, Autonomous Republic of
                  Crimea, 334200, Ukraine
                  Postal address:  Sokhanya Str., Yalta, Autonomous Republic of
                  Crimea, 334200, Ukraine
                  Issuer's share in the charter capital of the legal entity:
                  30 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.25.1 Yuly Pavlovich Konontsev
                          Functions of this person:  Sole Executive Body
                          This person's share in the issuer's charter capital:
                          0.0002 %

       25.26      Name:  Open Joint Stock Company RTC-Leasing
                  Location:  5, Delegatskaya Str.,127091, Moscow
                  Postal address:  42, Bldg. 2, Schepkina Str., 129110, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  27.12 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.26.1 Oleg Gennadievich Belov
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0051 %

       25.27      Name:  Closed Joint Stock Company Informcouriersvyaz
                  Location:  6, Bldg. 1, 4th V. Mikhailovsky Pr., 117419, Moscow
                  Postal address:  6, Bldg. 1, 4th V. Mikhailovsky Pr., 117419,
                  Moscow
                  Issuer's share in the charter capital of the legal entity:
                  25.25 %
                  This entity's share in the issuer's charter capital:  None

       25.28      Name:  Closed Joint Stock Company Rustel
                  Location:  10\4, Staraya Pl., 103070, Moscow.
                  Postal address:  10\4, Staraya Pl., 103070, Moscow.
                  Issuer's share in the charter capital of the legal entity:
                  25 %
                  This entity's share in the issuer's charter capital:  None

       25.29      Name:  Non-Commercial Pension Fund Rostelecom-Garantia
                  Location:  5, Delegatskaya Str., 127091, Moscow
                  Postal address:  15a Kalanchevskaya Str., 107078 Moscow
                  Issuer's share in the charter capital of the legal entity:
                  24.85 %
                  This entity's share in the issuer's charter capital:  None

<PAGE>


       25.30      Name:  Open Joint Stock Company Moskovskaya Sotovaya Svyaz
                  (Moscow Cellular Communications)
                  Location:  18/20, Vorontsovskaya Str., 109044, Moscow
                  Postal address:  18/20, Vorontsovskaya Str., 109044, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  23.5 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.30.1 Yury Anatolievich Khromov
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0001 %

       25.31      Name:  Closed Joint Stock Company NTTs Comset
                  Location:  7, Zeleny Pr., 111141, Moscow
                  Postal address:  7, Zeleny Pr., 111141, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  22.18 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.31.1 Mikhail Ivanovich Slyshenkov
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0012 %

       25.32      Name:  Closed Joint Stock Company Telmos
                  Location:  15, Zemledelchesky Per., 119121, Moscow
                  Postal address:  15, Zemledelchesky Per., 119121, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  20 %
                  This entity's share in the issuer's charter capital:  None

       25.33      Name:  Limited Liability Company ChOP Rostelecom-Bezopasnost
                  Location:  2, Bldg. 2, Deguninskaya Str., 127486, Moscow
                  Postal address:  2, Bldg. 2, Deguninskaya Str., 127486, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  20 %
                  This entity's share in the issuer's charter capital:  None

       25.34      Name:  Closed Joint Stock Company MS-Trust
                  Location:  18\20, Bldg. 2, Vorontsovskaya Str., 109044, Moscow
                  Postal address:  18\20, Bldg. 2, Vorontsovskaya Str., 109044,
                  Moscow
                  Issuer's share in the charter capital of the legal entity:
                  20 %
                  This entity's share in the issuer's charter capital:  None

       25.35      Name:  Limited Liability Company Medicom-33
                  Location:  16, Malakhitovaya Str., 129128, Moscow
                  Postal address:  16, Malakhitovaya Str., 129128, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  18.52 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.35.1 Roman Borisovich Kreynin
                          Functions of this person:  Member of the Board of
                           Directors (Supervisory


<PAGE>

                          Council)
                          This person's share in the issuer's charter capital:
                          0.0035 %

                  25.35.2 Vladimir Yuzovich Kolker
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0006 %

       25.36      Name:  Limited Liability Company Arkhangelskaya GTS
                  Location:  4, Priorova Str., 163071, Arkhangelsk
                  Postal address:  4, Priorova Str., 163071, Arkhangelsk
                  Issuer's share in the charter capital of the legal entity:
                  17 %
                  This entity's share in the issuer's charter capital:  None

       25.37      Name:  Closed Joint Stock Company Transportniye Tsifroviye
                  Seti
                  Location:  Posyolok Sosnovka, Odintsovsky District, Moscow
                  Region, 143070, TTsMS-21
                  Postal address:  Posyolok Sosnovka, Odintsovsky District,
                  Moscow Region, 143070, TTsMS-21
                  Issuer's share in the charter capital of the legal entity:
                  15 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.37.1 Valery Petrovich Zavyalov
                          Functions of this person:  Sole Executive Body
                          This person's share in the issuer's charter capital:
                          0.0021 %

                  25.37.2 Galina Vladimirovna Garanina
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0007 %

                  25.37.3 Yury Vasilyevich Zhilin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.005 %

       25.38      Name:  Closed Joint Stock Company RT_Radioteletext
                  Location:  12, Akademika Koroleva Str., 127427, Moscow
                  Postal address:  12, Akademika Koroleva Str., 127427, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  15 %
                  This entity's share in the issuer's charter capital:  None

       25.39      Name:  Golden Telecom Inc.
                  Location:  National Corporate Research Ltd. In the City of
                  Dover, County of Kent, State of Delaware, USA
                  Postal address:  615 South DuPont, Highway, Dover, 19901 USA
                  Issuer's share in the charter capital of the legal entity:
                  15 %
                  This entity's share in the issuer's charter capital:  None

       25.40      Name:  Limited Liability Company Tver-Telecom
                  Location:  24, Novotorzhskaya Str., 170000, Tver
                  Postal address:  24, Novotorzhskaya Str., 170000, Tver
                  Issuer's share in the charter capital of the legal entity:
                  15 %
                  This entity's share in the issuer's charter capital:  None


<PAGE>


       25.41      Name:  Limited Liability Partnership RON
                  Location:  5, Delegatskaya Str., 127091, Moscow
                  Postal address:  5, Delegatskaya Str., 127091, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  12.4 %
                  This entity's share in the issuer's charter capital:  None

       25.42      Name:  Closed Joint Stock Company Expo-Telecom
                  Location:  7, Tverskaya Str., 103375, Moscow
                  Postal address:  7, Tverskaya Str., 103375, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  11.12 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.42.1 Evgeny Georgievich Kalinikhin
                          Functions of this person:  Sole Executive Body
                          This person's share in the issuer's charter capital:
                           0.0051 %

       25.43      Name:  Closed Joint Stock Company TV-Inform
                  Location:  1, Rusakovskaya Nab., 106076, Moscow
                  Postal address:  1, Rusakovskaya Nab., 106076, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  10.5 %
                  This entity's share in the issuer's charter capital:  None

       25.44      Name:  Open Joint Stock Company Avianet
                  Location:  37, Bldg. 7, Leningradsky Pr., 109052, Moscow
                  Postal address:  37, Bldg. 7, Leningradsky Pr., 109052, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  10.3 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.45.1 Boris Vasilyevich Zverev
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0178 %

       25.45      Name:  Closed Joint Stock Company Telekros
                  Location:  27, Presnensky Val, 123557, Moscow
                  Postal address:  27, Presnensky Val, 123557, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  10 %
                  This entity's share in the issuer's charter capital:  None

       25.46      Name:  Closed Joint Stock Company WestBalt Telecom
                  Location:  32, Leninsky Pr., 236040, Kaliningrad
                  Postal address:  32, Leninsky Pr., 236040, Kaliningrad
                  Issuer's share in the charter capital of the legal entity:
                  10 %
                  This entity's share in the issuer's charter capital:  None

       25.47      Name:  Closed Joint Stock Company Sankt-Peterburgskiy Tsentr
                  Elektrosvyazi
                  Location:  24, Bolshevikov Pr., 193232, St. Petersburg
                  Postal address:  24, Bolshevikov Pr., 193232, St. Petersburg
                  Issuer's share in the charter capital of the legal entity:
                  9.4 %
                  This entity's share in the issuer's charter capital:  None
<PAGE>


       25.48      Name:  Association of Telecommunications Enterprises of
                  Povolzhye Region
                  Location:  1/3, Kuprina Str., 440606, Penza
                  Postal address:  1/3, Kuprina Str., 440606, Penza
                  Issuer's share in the charter capital of the legal
                  entity:  9.09 %
                  This entity's share in the issuer's charter capital:  None

       25.49      Name:  Closed Joint Stock Company Registrator-Svyaz
                  Location:  P.O. Box 45, 15A, Kalanchevskaya str., 107078
                  Postal address:  P.O. Box 45, 15A, Kalanchevskaya str.,
                  107078
                  Issuer's share in the charter capital of the legal entity:
                  8.64 %
                  This entity's share in the issuer's charter capital:  None

       25.50      Name:  Closed Joint Stock Company Ramsatcom
                  Location:  32-A, Leninsky Pr., 117334, Moscow
                  Postal address:  3, Bldg. 3, Solyanka Str., 109028, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  6.55 %
                  This entity's share in the issuer's charter capital:  None

       25.51      Name:  Closed Joint Stock Company Teleinf
                  Location:  Office 1042, 19, Akademika Korolyova Str., 127427,
                  Moscow
                  Postal address:  Office 1042, 19, Akademika Korolyova Str.,
                  127427, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  6.25 %
                  This entity's share in the issuer's charter capital:  None

                  Officers:

                  25.51.1 Evgeny Ivanovich Mishin
                          Functions of this person:  Member of the Board of
                          Directors (Supervisory Council)
                          This person's share in the issuer's charter capital:
                          0.0102 %

       25.52      Name:  Closed Joint Stock Company Rossiyskiye Informatsionniye
                  Tstentry
                  Location:  3, 1st Tverskaya-Yamskaya Str., 125047, Moscow
                  Postal address:  3, 1st Tverskaya-Yamskaya Str., 125047,
                  Moscow
                  Issuer's share in the charter capital of the legal entity:
                  6.18 %
                  This entity's share in the issuer's charter capital:  None

       25.53      Name:  Limited Liability Company Svyazexpertiza
                  Location:  22, Bldg. 1, Marksistskaya Str., 109147,Moscow
                  Postal address:  22, Bldg. 1, Marksistskaya Str., 109147,
                  Moscow
                  Issuer's share in the charter capital of the legal entity:
                  5.7 %
                  This entity's share in the issuer's charter capital:  None

       25.54      Name:  Association of Telecommunications of Tsentralno-
                  Chernozemny Region
                  Location:  Central District of the City of Voronezh
                  Postal address:  35, Pr. Revolyutsii, 394000, Voronezh
                  Issuer's share in the charter capital of the legal entity:
                  0 %
                  This entity's share in the issuer's charter capital:  None

       25.55      Name:  Association of Communications Enterprises of Sibir and
                  Far East
                  Location:  8, Bogdanova Per., 664011, Irkutsk
                  Postal address:  8, Bogdanova Per., 664011, Irkutsk
                  Issuer's share in the charter capital of the legal entity:
                  0 %
                  This entity's share in the issuer's charter capital:  None

       25.56      Name:  Non-Commercial Partnership Tsentr Issledovaniy Problem
                  Razvitiya
<PAGE>


                  Telecommunikatsiy
                  Location:  55, Bldg. 2, Plyuschikha Str., 119121, Moscow
                  Postal address:  55, Bldg. 2, Plyuschikha Str., 119121, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  0 %
                  This entity's share in the issuer's charter capital:  None

       25.57      Name:  Association of Operators of Federal Network of Business
                  Services ISKRA
                  Location:  40, Leninsky Pr., 117334, Moscow
                  Postal address:  40, Leninsky Pr., 117334, Moscow
                  Issuer's share in the charter capital of the legal entity:
                  0 %
                  This entity's share in the issuer's charter capital:  None

26.      Other Affiliates of the Issuer

       26.1       Name:  Open Joint-Stock Company Severo-Zapadny Telecom
                  Location:  24, Morskaya Str., 191186, St.-Petersburg
                  Postal address:  24, Morskaya Str., 191186, St.-Petersburg
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.2       Name:  Open Joint-Stock Company Sibirtelecom
                  Location:  5, Lenina St., 630099, Novosibirsk
                  Postal address:  5, Lenina St., 630099, Novosibirsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.3       Name:  Open Joint-Stock Company Central Telegraph
                  Location:  7, Tverskaya St., 103375, Moscow
                  Postal address:  7, Tverskaya St., 103375, Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.4       Name:  Open Joint-Stock Company Yuzhnaya
                  Telecommunikatsionnaya Kompaniya
                  Location:  66, Karasunskaya St., 350000, Krasnodar
                  Postal address:  66, Karasunskaya St., 350000, Krasnodar
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.5       Name:  Dagestan Open Joint-Stock Company of Communications and
                  Informatics
                  Location:  1, Pr. Lenina, 367012, Makhachkala, Dagestan
                  Republic
                  Postal address:  1, Pr. Lenina, 367012, Makhachkala, Dagestan
                  Republic
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.6       Name:  Subsidiary Closed Joint-Stock Company Armavirsky zavod
                  svyazi
                  Location:  1-a, Urupskaya st., 352903, Armavir, Krasnodar
                  district
                  Postal address:  1-a, Urupskaya st., 352903, Armavir,
                  Krasnodar district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.7       Name: Closed Joint-Stock Company Ul'yanovsk GSM
                  Location:  60, L.Tolstogo st., 432601, Ul'yanovsk
                  Postal address:  41, Krasnoarmeiskaya st., 432063, Ul'yanovsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None


<PAGE>


       26.8       Name: Closed Joint-Stock Company Svyazproekt
                  Location:  29-2, Narodnogo opolcheniya st., 123824, Moscow
                  Postal address:  29-2, Narodnogo opolcheniya st., 123824,
                  Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.9       Name: Closed Joint-Stock Company Istok & Co
                  Location:  23, pr. Geroev, 423800, Balakovo, Saratov district
                  Postal address:  23, pr. Geroev, 423800, Balakovo, Saratov
                  district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.10      Name: Closed Joint-Stock Company Autocenter Yug
                  Location:  48, Myshakskoe shosse, 353900, Novorossiisk,
                  Krasnodar district
                  Postal address:  48, Myshakskoe shosse, 353900, Novorossiisk,
                  Krasnodar district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.11      Name: Closed Joint-Stock Company Altai investment company
                  Altincom
                  Location:  96, Papanintsev st., 656049, Barnaul
                  Postal address:  96, Papanintsev st., 656049, Barnaul
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.12      Name: Closed Joint-Stock Company Altel
                  Location:  54V, pr-t Lenina., Barnaul
                  Postal address:  54V, pr-t Lenina., Barnaul
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.13      Name: Closed Joint-Stock Company Baikalwestcom
                  Location:  68, 2-d Zheleznodorozhnaya st., 664005, Irkutsk
                  Postal address:  68, 2-d Zheleznodorozhnaya st., 664005,
                  Irkutsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.14      Name: Closed Joint-Stock Company BRIZ Ltd.
                  Location:  17-1,Starokonyushenniy per., 121002, Moscow
                  Postal address:  17-1,Starokonyushenniy per., 121002, Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.15      Name: Closed Joint-Stock Company Bryanskie sotovye seti
                  ("Bryansk Cellular Networks")
                  Location:  9, Karl Marx st., 241000, Bryansk
                  Postal address:  9, Karl Marx st., 241000, Bryansk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.16      Name: Closed Joint-Stock Company Vologodskaya Sotovaya Svyaz
                  ("Vologda Cellular")
                  Location:  109, Zosimovskaya st., Vologda
                  Postal address:  109, Zosimovskaya st., Vologda
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

<PAGE>


       26.17      Name: Closed Joint-Stock Company VSNET
                  Location:  6, Kukuevizkogo st., Surgut, Khanty-Mansiisk
                  district
                  Postal address:  6, Kukuevizkogo st., Surgut, Khanty-Mansiisk
                  district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.18      Name: Closed Joint-Stock Company Dag. TV-inform
                  Location:  3, pr-t Lenina, 367012, Makhachkala
                  Postal address:  3, pr-t Lenina, 367012, Makhachkala
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.19      Name: Closed Joint-Stock Company Dagestanskaya Sotovaya Svyaz
                  ("Dagestan Cellular")
                  Location:  3, pr-t Lenina, 367012, Makhachkala
                  Postal address:  7, Oscara st., 367012, Makhachkala
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.20      Name: Closed Joint-Stock Company Delta-Telecom
                  Location:  22, Bolshaya Morskaya st., 191186, Saint-Petersburg
                  Postal address:  22, Bolshaya Morskaya st., 191186, Saint-
                  Petersburg
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.21      Name: Closed Joint-Stock Company Eniseitelecom
                  Location:  102, pr-t Mira, 660017, Krasnoyarsk-17
                  Postal address:  102, pr-t Mira, 660017, Krasnoyarsk-17
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.22      Name: Closed Joint-Stock Company Interelectrosvyaz
                  Location:  5, 19 Parts'ezda st., Volzhskiy, Volgograd district
                  Postal address:  5, 19 Parts'ezda st., Volzhskiy, Volgograd
                  district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.23      Name: Closed Joint-Stock Company Infinvest
                  Location:  32, Gagarina blvd., 614070, Perm
                  Postal address:  32, Gagarina blvd., 614070, Perm
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.24      Name: Closed Joint-Stock Company Kaluzhskaya Sotovaya Svyaz
                  ("Kaluga Cellular")
                  Location:  38, Teatral'naya st., 248600, Kaluga
                  Postal address:  85-2, Nikitina st., 248003, Kaluga
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.25      Name: Closed Joint-Stock Company KEDR-RMS
                  Location:  61, Sovetskiy pr., 650099, Kemerovo
                  Postal address:  61, Sovetskiy pr., 650099, Kemerovo
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

<PAGE>


       26.26      Name: Closed Joint-Stock Company Kuban-GSM
                  Location:  61, Gimnazicheskaya st., 350000, Krasnodar
                  Postal address:  61, Gimnazicheskaya st., 350000, Krasnodar
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.27      Name: Closed Joint-Stock Company Lahdenpohskiy telephone
                  Location:  26, Lenina st., 186730, Lahdenpohya, Karel republic
                  Postal address:  2-6, Zahodskogo st., 186730, Lahdenpohya,
                  Karel republic
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.28      Name: Closed Joint-Stock Company Mobil telecommunications
                  Location:  55-2, Plyushciha st., 119121, Moscow
                  Postal address:  22, Marxistskaya st., 119147, Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.29      Name: Closed Joint-Stock Company Narodniy telephone Saratov
                  Location:  40, Kiseleva st., 410600, Saratov
                  Postal address:  40, Kiseleva st., 410600, Saratov
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.30      Name: Closed Joint-Stock Company Novgorod Datacom
                  Location:  22, Industrial'naya st., Pankovka, Velikiy
                  Novgorod
                  Postal address:  20, Mikhailova st., Velikiy Novgorod
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.31      Name: Closed Joint-Stock Company Orenburg GSM
                  Location:  11, Volodarskogo st., Orenburg
                  Postal address:  p/b 2153, 460052, Orenburg
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.32      Name: Closed Joint-Stock Company Permtelecom
                  Location:  45, Podlesnaya st., 614000, Perm
                  Postal address:  45, Podlesnaya st., 614000, Perm
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.33      Name: Closed Joint-Stock Company Pulse-radio Yoshkar-Ola
                  Location:  138, Sovetskaya st., Yoshkar-Ola
                  Postal address:  138, Sovetskaya st., Yoshkar-Ola
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.34      Name: Closed Joint-Stock Company RusLeasingSvyaz
                  Location:  6, 2-d Spasonalivkovskiy per., 117909, Moscow
                  Postal address:  6, 2-d Spasonalivkovskiy per., 117909, Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.35      Name: Closed Joint-Stock Company Svyazinformcomplect
<PAGE>


                  Location:  4a, Darvina st., 454087, Chelyabinsk
                  Postal address:  4a, Darvina st., 454087, Chelyabinsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.36      Name: Closed Joint-Stock Company Sotovaya Svyaz Birobidgana
                  ("Birobidgan Cellular")
                  Location:  16, pr-t 60-letiya USSR, 682200, Birobidgan
                  Postal address:  16, pr-t 60-letiya USSR, 682200, Birobidgan
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.37      Name: Closed Joint-Stock Company Sotovaya Svyaz Mordovii
                  ("Mordoviya Cellular")
                  Location:  13, Bol'shevistskaya st., 430000, Saransk,
                  Mordoviya republic
                  Postal address:  13, Bol'shevistskaya st., 430000, Saransk,
                  Mordoviya republic
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.38      Name: Closed Joint-Stock Company Startcom
                  Location:  6, 2-d Spasonalivkovskiy per., 117909, Moscow
                  Postal address:  26-2, Zoologicheskaya st., 123242, Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.39      Name: Closed Joint-Stock Company Telesot-Alaniya
                  Location:  47, Kirova st., 362040, Vladikavkaz, RSO-A
                  Postal address:  47, Kirova st., 362040, Vladikavkaz, RSO-A
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.40      Name: Closed Joint-Stock Company Tyumen-Ruscom
                  Location:  56, Malygina st., 625048, Tyumen
                  Postal address:  56, Malygina st., 625048, Tyumen
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.41      Name: Closed Joint-Stock Company Usolskiy Telephone
                  Location:  69, Mendeleeva st., 665470, Usol'e-Sibirskoe,
                  Irkutsk district
                  Postal address:  69, Mendeleeva st., 665470, Usol'e-Sibirskoe,
                  Irkutsk district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.42      Name: Closed Joint-Stock Company FK-Svyaz
                  Location:  14, Volgogradskiy pr-t., 109316, Moscow
                  Postal address:  Malaya Semenovskaya st., 105023, Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.43      Name: Closed Joint-Stock Company Center vnedreniya specialized
                  systems
                  Location:  161, Kirova st., 454005, Chelyabinsk
                  Postal address:  161, Kirova st., 454005, Chelyabinsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.44      Name: Closed Joint-Stock Company Digital Telecommunications

<PAGE>
                  Location:  20a, Gagarina st., 428000, Cheboksary
                  Postal address:  20a, Gagarina st., 428000, Cheboksary
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.45      Name: Closed Joint-Stock Company South-Sibir Cellular
                  Location:  13, Severo-Zapadnaya st., Barnaul
                  Postal address:  13, Severo-Zapadnaya st., Barnaul
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.46      Name: Non-state pension fund Region-Svyaz
                  Location:  10, Cvillinga st., 454000, Chelyabinsk
                  Postal address:  10, Cvillinga st., 454000, Chelyabinsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.47      Name: Non-state pension fund Svyazist
                  Location:  10, Cvillinga st., 454000, Chelyabinsk
                  Postal address:  10, Cvillinga st., 454000, Chelyabinsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.48      Name: Limited liability company AMT
                  Location:  14, Sinopskaya nab., 191186, Saint-Petersburg
                  Postal address:  3-5, B. Morskaya st., 191186, Saint-
                  Petersburg
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.49      Name: Limited liability company Bona
                  Location:  45, Troizkiy pr., 163061, Arkhangelsk
                  Postal address:  45, Troizkiy pr., 163061, Arkhangelsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.50      Name: Limited liability company Vlad Page
                  Location:  42, Gorkogo st., 600000, Vladimir
                  Postal address:  42, Gorkogo st., 600000, Vladimir
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.51      Name: Limited liability company Vladimir Taxophone
                  Location:  32V, pr-t Stroitelei., 600014, Vladimir
                  Postal address:  32V, pr-t Stroitelei., 600014, Vladimir
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.52      Name: Limited liability company Vyatka Page
                  Location:  1, Uralskaya st., Kirov
                  Postal address:  115, Oktyabrskiy pr-t, Kirov
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.53      Name: Limited liability company Vyatskaya Sotovaya Svyaz
                  ("Vyatka Cellular")
                  Location:  1, Uralskaya st., Kirov
                  Postal address:  1, Uralskaya st., Kirov


<PAGE>

                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.54      Name: Limited liability company MobilCom
                  Location:  17, Mira st., 600017, Vladimir
                  Postal address:  17, Mira st., 600017, Vladimir
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.55      Name: Limited liability company Science-Production Center
                  Rostinform
                  Location:  53, Voroshilovskiy pr., 344007, Rostov-on-Don
                  Postal address:  53, Voroshilovskiy pr., 344007, Rostov-on-Don
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.56      Name: Limited liability company Page-Telecom
                  Location:  6, pr-t Stroitelei, 162627, Cherepovec, Vologda
                  district
                  Postal address:  6, pr-t Stroitelei, 162627, Cherepovec,
                  Vologda district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.57      Name: Limited liability company Perminform
                  Location:  2, Krupskoy st., 614060, Perm
                  Postal address:  2, Krupskoy st., 614060, Perm
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.58      Name: Limited liability company Polycomp
                  Location:  24, B. Morskaya st., 191186, Saint-Petersburg
                  Postal address:  20, B. Morskaya st., 191186, Saint-Petersburg
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.59      Name: Limited liability company Radio-Resonance
                  Location:  8, Oxkiy s'ezd, 603022, Nizhniy Novgorod
                  Postal address:  8, Oxkiy s'ezd, 603022, Nizhniy Novgorod
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.60      Name: Limited liability company Russian-American Joint Venture
                  Izhcom
                  Location:  206, Karl Marx st., 426057, Izhevsk
                  Postal address:  206, Karl Marx st., 426057, Izhevsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.61      Name: Limited liability company Sevtelecom
                  Location:  27, Leningradskaya st., 183038, Murmansk
                  Postal address:  27, Leningradskaya st., 183038, Murmansk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.62      Name: Limited liability company Telecom-Stroi
                  Location:  92, Paris Communa st., 153017, Ivanovo
                  Postal address:  13, pr-t Lenina, 153017, Ivanovo
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

<PAGE>


      26.63       Name: Limited liability company Telecom-Terminal
                  Location:  13, pr-t Lenina, 153017, Ivanovo
                  Postal address:  13, pr-t Lenina, 153017, Ivanovo
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.64      Name: Limited liability company Tomsktelecom-Nicola Tesla
                  Location:  21, Krylova st., 634050, Tomsk
                  Postal address:  1, Makrushina st., 634040, Tomsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.65      Name: Limited liability company Trade House Electrosvyaz
                  Location:  107, Lanina st., 672076, Chita
                  Postal address:  107, Lanina st., 672076, Chita
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.66      Name: Limited liability company Trade House Svyazi
                  Location:  8, Gagarina st., 620026, Ekaterinburg
                  Postal address:  8, Gagarina st., 620026, Ekaterinburg
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.67      Name: Limited liability company TorgSvyaz
                  Location:  129a, Lenina st., Kirov
                  Postal address:  129a, Lenina st., Kirov
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.68      Name: Limited liability company Tyumentelecom-Invest
                  Location:  56, Republic st., 625000, Tyumen
                  Postal address:  56, Republic st., 625000, Tyumen
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.69      Name: Limited liability company Udmurtskie Sotovye Seti-450
                  ("Udmurtiya Cellular-450")
                  Location:  206, Pushkinskaya st., 426034, Izhevsk
                  Postal address:  206, Pushkinskaya st., 426034, Izhevsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.70      Name: Limited liability company UralInform TV
                  Location: 2, Krupskoy st., 614060, Perm
                  Postal address: 2, Krupskoy st., 614060, Perm
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

       26.71      Name: Limited liability company Factorial-99
                  Location: 47, Bratskiy per., 344082, Rostov-on-Don
                  Postal address: 47, Bratskiy per., 344082, Rostov-on-Don
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

<PAGE>



      26.72       Name: Limited liability company Centrum
                  Location: 22, Antikaynena st., 185000, Petrozavodsk
                  Postal address: 22, Antikaynena st., 185000, Petrozavodsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.73       Name: Limited liability company Private security enterprise
                  ROS
                  Location: 30, Dzerzhinskogo st., 440062, Penza
                  Postal address: 30, Dzerzhinskogo st., 440062, Penza
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.74       Name: Open Joint Stock Company A-svyaz
                  Location: 42, B. Khmelnickogo st., 675000, Blagoveshensk, Amur
                  district
                  Postal address: 42, B. Khmelnickogo st., 675000,
                  Blagoveshensk, Amur district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.75       Name: Open Joint Stock Company AK Mobiltelecom
                  Location: 16a, Suhe-Batora st., 670000, Ulan-Ude, Byryatiya
                  republic
                  Postal address: 42, Lenina st., 670000, Ulan-Ude, Byryatiya
                  republic
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.76       Name: Open Joint Stock Company Alternative telephone networks
                  Location: 13a, Moskovskaya st., 366720, Nazran, Ingush
                  republic
                  Postal address: 22, Novotorzhskaya st., 170000, Tver
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.77       Name: Open Joint Stock Company Volga Telecom
                  Location: Dom svyazi, Maxima Gor'kogo pl., 603000, Nizhniy
                  Novgorod
                  Postal address: Dom svyazi, Maxima Gor'kogo pl., 603000,
                  Nizhniy Novgorod
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.78       Name: Open Joint Stock Company Giprosvyaz
                  Location: 11, 3-d Khoroshevskaya st., 123298, Moscow
                  Postal address: 11, 3-d Khoroshevskaya st., 123298, Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.79       Name: Open Joint Stock Company Dalnevostochnaya Electrosvyaz
                  Company
                  Location: 57, Svetlanskaya st., 690600, Vladivostok
                  Postal address: 57, Svetlanskaya st., 690600, Vladivostok
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.80       Name: Open Joint Stock Company InfoTex Taganrog Telecom
                  Location: 19, Oktyabrskaya st., 347920, Taganrog, Rostov
                  district
                  Postal address: 19, Oktyabrskaya st., 347920, Taganrog, Rostov
                  district
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.81       Name: Open Joint Stock Company Kostroma City Telephone Network
                  Location: 6, Gagarina st., 156023, Kostroma
                  Postal address: 6, Gagarina st., 156023, Kostroma

<PAGE>


                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.82       Name: Open Joint Stock Company Lensvyaz
                  Location: 61, B. Morskaya st., 190000, Saint-Petersburg
                  Postal address: 61, B. Morskaya st., 190000, Saint-Petersburg
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.83       Name: Open Joint Stock Company NGTS-Page
                  Location: 15/3, Vystavochnaya st., Novosibirsk-78
                  Postal address: 22, Sibiryakov-Gvardeycev st., Novosibirsk-78
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.84       Name: Open Joint Stock Company Rinet
                  Location: 86, Kirova st., 630102, Novosibirsk
                  Postal address: 1, Trudovaya st., 630102, Novosibirsk
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.85       Name: Open Joint Stock Company Svayz, Komi Republic
                  Location: 60, Lenina st., 167610, Cyktyvkar
                  Postal address: 60, Lenina st., 167610, Cyktyvkar
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.86       Name: Open Joint Stock Company SKET
                  Location: 4, Tukhachevskogo st., 355040, Stavropol
                  Postal address: 4, Tukhachevskogo st., 355040, Stavropol
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.87       Name: Open Joint Stock Company Stavtelecom
                  Location: 10/12, pr-t Oktyabrskoy Revolution., 355035,
                  Stavropol
                  Postal address: p/b 15/85, 23, pr-t Oktyabrskoy Revolution.,
                  355035, Stavropol
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.88       Name: Open Joint Stock Company Stromgeomash
                  Location: 35, promzona Lazurnaya, 170017, Tver
                  Postal address: 35, promzona Lazurnaya, 170017, Tver
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.89       Name: Open Joint Stock Company Telecom Ryazan district
                  Location: 36, Svobody st., 390006, Ryazan
                  Postal address: 36, Svobody st., 390006, Ryazan
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.90       Name: Open Joint Stock Company Uralsvyazinform
                  Location: 68, Lenina st., 614096, Perm
                  Postal address: 68, Lenina st., 614096, Perm
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

<PAGE>


      26.91       Name: Open Joint Stock Company Central Telecommunication
                  Company
                  Location: 33, Proletarskaya st., 141400, Khimki, Moscow
                  district
                  Postal address: 29-2, Narodnogo Opolcheniya st., 123154,
                  Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.92       Name: Limited liability partnership Teleport-Ivanovo
                  Location: 90, Tashkentskaya st., 153032, Ivanovo
                  Postal address: 90, Tashkentskaya st., 153032, Ivanovo
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None

      26.93       Name: Closed Joint-Stock Company ROSPAC
                  Location: 2a, Bryusov per., 103009, Moscow
                  Postal address: 2a, Bryusov per., 103009, Moscow
                  Share of the issuer in the charter capital of this entity:
                  None
                  This entity's share in the issuer's charter capital:  None


27.    The Issuer's Share in Charter Capitals of Affiliated Legal Entities

       See sections 24, 25, 26

28.    Share of the Issuer's Affiliates as Well as the Share of Founders and
       Executive Officers of Such Affiliates in the Issuer's Charter Capital

       See sections 24, 25, 26

29.    Persons Holding at Least 5% of Votes in the Issuer's Supreme Management
       Body

       Name:  Open Joint-Stock Company Svyazinvest
       Share:  50.669 %

       Name:  ING Bank (Eurasia) ZAO / ING Depositary-ING Barings (nominee
       holder)
       Share:  24.676 %

       Name:  National Depositary Center, a non-commercial partnership
       (nominee holder)
       Share:  10.163 %

30.    Issuer's Participation in Industrial, Banking and Financial Groups,
       Holdings, Concerns and Associations

       Organization:   Association  of  Telecommunications  Enterprises  of  the
       Povolzhye  Region  Issuer's  position and role in the  organization:  The
       issuer is one of the members of the  Association  and,  equally  with the
       other  members,  has  the  rights  and  obligations  in  connection  with
       Association's   main  objectives:   development  and   popularization  of
       telecommunications   and   services   rendered  by  the  members  of  the
       Association,    co-ordination   of   activities   of   telecommunications
       enterprises  in the  region  and  representation  of joint  interests  in
       governmental and other authorities, international organizations.

       Organization:  Association of Telecommunications Enterprises of Sibir and
       Far East Issuer's  position and role in the  organization:  The issuer is
       one of the  members  of the  Association  and,  equally  with  the  other
       members,  has the rights and obligations in connection with Association's
       main  objectives:  co-ordination  of  entrepreneurial  activities  of the
       Association  members,  contributing  to development  of  cooperation  and
       production   specialization,   arrangement  of  meetings,   seminars  for
       directors and specialists of

<PAGE>

       telecommunications enterprises.

       Organization:      Association  of   Telecommunications  Of   Tsentralno-
       Tchernozemny  Region Issuer's position and role in the organization:  The
       issuer is one of the members of the  Association  and,  equally  with the
       other  members,  has  the  rights  and  obligations  in  connection  with
       Association's   main  objectives:   development  and   popularization  of
       telecommunications   and   services   rendered  by  the  members  of  the
       Association,    co-ordination   of   activities   of   telecommunications
       enterprises  in the  region  and  representation  of joint  interests  in
       governmental and other authorities, international organizations.

       Organization: Association of Operators of the Federal Network of Business
       Services ISKRA Issuer's position and role in the Organization: The issuer
       is one of the  members of the  Association  and,  equally  with the other
       members,  has the rights and obligations in connection with Association's
       main   objectives:    contributing   to   development   of   Interrelated
       Communications  Network  of  the  Russian  Federation,   contributing  to
       development of allocated federal network of the business services Iskra.

31.    Issuer's Subsidiaries and Representative Offices

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 3
       Location:  5, Dostoyevskogo Str., 191002, Saint-Petersburg
       Postal address:  5, Dostoyevskogo Str., 191002, Saint-Petersburg
       The head:  Evgeny Vladimirovich Gerasimov
       Opening date:  September 23, 1993
       Power of Attorney expiry date:  September 27, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 5
       Location:  292, Sadovaya Str., 443001, Samara
       Postal address:  292, Sadovaya Str., 443001, Samara
       The head:  Sergei Valeryevich Omelchenko
       Opening date:  September 23, 1993
       Power of Attorney expiry date:  January 15, 2005

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 6
       Location:  19, Petelina Str., 610014, Kirov
       Postal address:  19, Petelina Str., 610014, Kirov
       The head:  Valery Timofeevich Ivanov
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 03, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 8
       Location:  33, 2nd Soyuza Molodyozhi Str., 630122, Novosibirsk
       Postal address:  33, 2nd Soyuza Molodyozhi Str., 630122, Novosibirsk
       The head:  Anatoly Ivanovich Parfenov
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 13, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 12
       Location:  34a, 4th Zheleznodorozhnaya Str., 664039, Irkutsk
       Postal address:  34a, 4th Zheleznodorozhnaya Str., 664039, Irkutsk
       The head:  Pavel Remirovich Fisenko
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  June 14, 2005

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 13
       Location:  44, Moskovskoye Shosse, 160025, Vologda

<PAGE>

       Postal address:  44, Moskovskoye Shosse, 160025, Vologda
       The head:  Anatoly Dmitrievich Staroverov
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 03, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 14
       Location:  4a, Asbestovsky Per., 620067, Ekaterinburg
       Postal address:  4a, Asbestovsky Per., 620067, Ekaterinburg
       The head:  Nikolay Ivanovich Vydrya
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 13, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 15
       Location:  23, Pushkina Str., 680000, Khabarovsk
       Postal address:  23, Pushkina Str., 680000, Khabarovsk
       The head:  Vladimir Viktorovich Novishkov
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 14, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 16
       Location:  23, B. Gornaya Str., 410005, Saratov
       Postal address:  23, B. Gornaya Str., 410005, Saratov
       The head:  Alexei Filimonovich Yaremchuk
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 03, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 17
       Location:  246, K. Marx Str., 660100, Krasnoyarsk
       Postal address:  246, K. Marx Str., 660100, Krasnoyarsk
       The head:  Mikhail Petrovich Tischenko
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 03, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 18
       Location:  1, Gogolya Str., 677008, Yakutsk
       Postal address:  1, Gogolya Str., 677008, Yakutsk
       The head:  Georgy Georgievich Ipatyev
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 03, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 19
       Location:  9, Magadanka River Embankment, 685000, Magadan
       Postal address:  9, Magadanka River Embankment, 685000, Magadan
       The head:  Nikolai Ivanovich Kungurov
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  May 07, 2005

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 23
       Location:  37, Parkovaya Str., 185630, Petrozavodsk, Republic of Karelia
       Postal address: 37, Parkovaya Str., 185630, Petrozavodsk, Republic of
       Karelia
       The head:  Alexei Alexeevich Domoroschin
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 03, 2004

       Name:  Territorialny Tsentr Mezhdugorovnykh Svyazei i Televideniya No. 26
       Location:  36, Permyakova Str., 625013, Tyumen

<PAGE>

       Postal address:  36, Permyakova Str., 625013, Tyumen
       The head:  Vladimir Ivanovich Sokolov
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  December 03, 2004

       Name:  Mezhdunarodnaya Svyaz (MnS RT)
       Location:  7, Butlerova Str., 117485, Moscow
       Postal address:  7, Butlerova Str., 117485, Moscow
       The head:  Anatoly Dmitrievich Orlov
       Opening date:  June 5, 1995
       Power of Attorney expiry date:  May 07, 2005

       Name:  Uchebno-Proizvodstvenny Tsentr (UPTs RT)
       Location:  p/o Bekasovo, Naro-Fominsky Disctrict, 143380, Moscow Region
       Postal address: p/o Bekasovo, Naro-Fominsky Disctrict, 143380, Moscow
       Region
       The head:  Olga Viktorovna Zaytseva
       Opening date:  26.08.1997
       Power of Attorney expiry date:  September 30, 2005

       Name:  Long-Distance and International Telephone (MMT)
       Location:  30, Goncharnaya Str., 109172, Moscow
       Postal address:  30, Goncharnaya Str., 109172, Moscow
       The head:  Boris Vasilyevich Zverev
       Opening date:  September 23, 1993
       Power of Attorney expiry date:  December 3, 2004

       Name: Main Control Center of Long-Distance Communications and Television
       (GTsUMS)
       Location:  25, Dubovaya Roscha Str., 127427, Moscow
       Postal address:  25, Dubovaya Roscha Str., 127427, Moscow
       The head:  Alexei Evgenyevich Shevchenko
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  July 19, 2005

       Name:  Central Branch of Open Joint Stock Company Rostelecom
       Location:  17, Bldg. 1, 3rd Khoroshevskaya Str., 123298, Moscow
       Postal address:  17, Bldg. 1, 3rd Khoroshevskaya Str., 123298, Moscow
       The head:  Vladimir Alexandrovich Petrov
       Opening date:  January 1, 2002
       Power of Attorney expiry date:  January 9, 2005

       Name:  South Branch of Open Joint Stock Company Rostelecom
       Location:  344006, 152 Pushkinskaya Str., Rostov-on-Don
       Postal address:  344006, 152 Pushkinskaya Str., Rostov-on-Don
       The head:  Afanasiev Aleksandr Leonidovich
       Opening date:  February 5, 1993
       Power of Attorney expiry date:  October 8, 2004

       Name: Representative Office of the Open Joint-Stock Company Long-Distance
       and International Telecommunications Rostelecom in Geneve, Switzerland
       Location:  Le Chateau Banquet, rue de Lausanne 94 - 1202 Geneve\Suisse
       Postal address: Le Chateau Banquet, rue de Lausanne 94 - 1202
       Geneve\Suisse
       The head:  Alexander Ivanovich Kushtuev
       Opening date:  May 14, 1999
       Power of Attorney expiry date:  December 18, 2003

       Name: Representative office in Erevan, Republic of Armenia (28,
       Nalbandyana Str., 375010,

<PAGE>

       Erevan)
       Location:  28, Nalbandyana Str., 375010, Erevan
       Postal address:  28, Nalbandyana Str., 375010, Erevan
       The head:  Igor Alexandrovich Slavgorodsky
       Opening date:  April 11, 2002
       Power of Attorney expiry date:  May 28, 2003

32.    Number of the Issuer's Employees

       The Issuer's  average staff on the payroll,  including  those employed at
       its  branches and  representative  offices,  was 30 203 in the  reporting
       period.

33.    Description of the Issuer's Principal Activities

       Rostelecom  is the  principal  provider  of  international  and  domestic
       long-distance  telecommunication  services in Russia. The Company renders
       international and domestic long-distance traffic throughput services to 7
       united  regional   telephones   operators   (SuperRegional   Companies  -
       hereinafter SRC). Additionally, Rostelecom provides long-distance traffic
       throughput   services   to  overlay   networks   operators   as  well  as
       international  and   long-distance   services  to  end-users  in  Moscow.
       Rostelecom does not practice any types of seasonal operations.

       Rostelecom  operates its own trunk network,  which  transmits the bulk of
       Russia's domestic and international  traffic. The Company's trunk network
       is comprised of nearly  200,000  kilometers  of digital and analog lines.
       Its digitalization  level in terms of channel kilometers  exceeded 73% as
       of the end of 2001.  For its  network,  the Company  uses  switching  and
       network  equipment  of  such  manufacturers  as  Siemens,  NEC,  Alcatel,
       Fujitsu, Iskratel,  Ericsson, and Ericsson Nicola Tesla. At that, none of
       these  manufacturers  contributes  more  than 10% to  Rostelecom's  total
       supplies.

       The  "backbones"  of the  Rostelecom  network are its modern  fiber optic
       lines:  Moscow -  Novorossiisk,  Moscow -  Khabarovsk,  and  Moscow - St.
       Petersburg. The Company has completed a major part of construction of its
       domestic  long-distance  digital  transit network based on eight powerful
       Automatic  Switching  Nodes ("UAKs").  Today,  90% of the Automatic Trunk
       Exchanges  ("AMTS")  are  connected  through  two or  more  paths  to the
       Company's UAKs.

       Rostelecom has completed  construction  of a fully  connected,  redundant
       international digital network based on 11 international switching centers
       ("ISCs").   Due   to  the   Rostelecom's   network,   the   international
       telecommunication services are currently available in any geographic area
       of Russia. The Company has direct access to 74 countries and participates
       in  28  international  cable  systems.   Rostelecom  interacts  with  295
       international operators and network administrators, and tries to frame up
       its extensive relationship with the relevant agreements.

       Rostelecom participates in a number of organizations  specializing in the
       provision  of  modern   communication   services  in  Russia,   including
       multimedia  communication,  Internet  providers  and  other  value  added
       services.

       In spite of the fact that international and long-distance services remain
       the  main  source  of  its  revenues,  Rostelecom  continues  working  on
       expanding  the range of services to be  rendered  to both  end-users  and
       operators.

       Integrated  Service Digital Network (ISDN) Services:  in 2001, 19 regions
       of Russia and 3 overlay network operators,  Telmos, Comstar and Sovintel,
       got  connected  to  Rostelecom  ISDN  network.  Rostelecom  launched  the
       international ISDN project in cooperation with 4 international operators:
       Finnet (Finland), Slovak Telecom (Slovakia), Teleglobe (Canada)


<PAGE>

       and  Ukrtelecom  (Ukraine).  This made the ISDN network  available for 51
       regions and 5 overlay network operators.  The international ISDN services
       are being offered to 30 countries and 34 international operators.

       Frame Relay Technology  Services:  The Company uses the Moscow Center for
       International  Access to provide the international Frame Relay technology
       services  to  Russian  corporate  customers  and  international   service
       providers.

       International  Roaming:  Rostelecom routes  international  roaming signal
       messages to 108 countries (253 international  mobile  operators).  During
       2001,  the access was  provided to the  networks of 45  operators.  Major
       mobile  operators  of Russia use the  Rostelecom's  international  signal
       network.

       Intellectual  Platform-Based  Services: in March 2001, FreePhone 800, the
       first  service  based  on  the  Company's   intellectual   platform,  was
       introduced to the market. The international companies broadly employ this
       service as an effective  advertising and marketing tool.  Rostelecom made
       this service available for Russian  consumers.  In July 2001, the Company
       launched the 809 Information Service available for an extra pay.

       Plastic   Cards  Used  for   Payment  of   Domestic   Long-Distance   and
       International Services: in early 2001, the Company and Closed Joint Stock
       Company KB Guta Bank implemented a new technology which enabled customers
       to pay for international  and  long-distance  services by VISA, EC/MC and
       Union Card  plastic  cards of any bank.  In the autumn of 2001,  together
       with  Guta  Bank,   Rostelecom   issued  the  ROSTELECOM   Visa  Electron
       international  plastic  card.  Further,  the Company kept  expanding  the
       availability of its  international  and  long-distance  services  through
       various  types  of  specialized  cards,  including  the  World  Card  and
       telephone service cards STC, and STC-Intertone.

       International  and  long-distance  traffic  is  a  prime  source  of  the
       Company's revenues.

       Structure of Rostelecom's revenues in 1999-2002.

<TABLE>
<CAPTION>
       Type of operation:             1999      2000       2001      1Q 2002     2Q 2002     3Q 2002     4Q 2002
       <S>                           <C>       <C>        <C>       <C>         <C>         <C>         <C>
       1. Long-distance traffic       34.17%    33.37%     37.34%    41.02%      38.25%      42.53%      42.59%
       2. International traffic       57.94%    54.85%     45.07%    41.72%      39.38%      39.01%      36.85%
       3. Channel lease               3.93%     4.63%      7.53%     9.66%       10.45%      10.34%      10.67%
       4. TV, radio broadcasting      0.83%     2.17%      2.30%     2.40%       2.46%       2.41%       2.55%
       5. Internet                    1.00%     2.02%      2.15%     0.02%       0.03%       0.03%       0.03%
       6. Other                       2.13%     2.96%      5.61%     5.18%       9.44%       5.69%       7.31%
       7. Total revenues              100%      100%       100%      100%        100%        100%        100%
</TABLE>

       The licenses obtained authorize  Rostelecom to provide  international and
       long-distance  telecommunications  services on the whole territory of the
       Russian Federation.  Rostelecom's  network  interconnects all SRCs, which
       operate their own local telephone networks. Rostelecom does not bill most
       end-users directly, except for certain enterprises,  Russian governmental
       bodies and individual  customers in Moscow, but instead collects payments
       from SRCs and other  entities,  which  charge their local  customers  for
       domestic long-distance and international outgoing calls independently. As
       a result, Rostelecom does not have any customers,  which account for more
       than 10% of its total service sales.

       Inventory

       Rostelecom is pursuing a stringent policy on inventory optimization.  The
       volume of inventory is determined by standards  developed and approved in
       order  to  ensure  for  uninterruptible   functioning  and  operation  of
       Rostelecom trunk networks.

       Principal Competitors

<PAGE>

       Currently,  Rostelecom  strives  to  take a  lead  role  in  the  ongoing
       liberalization of the  telecommunications  market in Russia, and for this
       purpose develops effective and competitive  businesses able to anticipate
       customer needs.

       Rostelecom believes that unique networks, which it created during the ten
       years of its existence, would secure its goals.

       The Company is monitoring its  competitors in order to better  understand
       their impact on Rostelecom's activities. To further build its development
       strategy,  the Company evaluates activities of alternative  operators and
       operators of overlay networks.  Rostelecom's  primary  competitors are as
       follows:

       Closed  Joint  Stock  Company  TransTeleCom   Company.  The  company  was
       established  in 1997  with the  intent to  upgrade  the  information  and
       technology  segment in the  infrastructure of the Ministry of Railways of
       the Russian  Federation  and, for this purpose,  construct and profitably
       operate a  high-bandwidth  telecommunications  network along rail routes.
       Today,  TransTelecom  holds operator licenses to lease out communications
       paths and channels, provide telematics services (including the Internet),
       data  transmission  (ATM,  Frame Relay, IP, X.25) as well as services for
       local, intra-zonal and domestic long-distance communications.

       Initially,  TransTelecom  was  planned to use a part of its  capacity  to
       satisfy  telecommunications  needs of the Ministry of Railroads  and sell
       the remaining  capacity to third parties.  TransTelecom  however does not
       currently have a license to render trunk communications  services. At the
       end of May 2002, representatives of Sviazinvest were elected to the Board
       of Directors of TransTelecom.

       In the first half of 2002, a group of  representatives of the Ministry of
       Telecommunications,  Ministry  of  Railroads  and  Ministry  of  Economic
       Development   and  Trade  was  organized  to  decide  on  the  future  of
       TransTelecom.

       Closed Joint Stock Company Sonera Rus  incorporates  Sonera  Corporation.
       Closed Joint Stock  Company  Sonera Rus,  which has offices in Moscow and
       Saint Petersburg, has been representing Sonera Corporation on the Russian
       market since 1993.

       Closed  Joint  Stock  Company  Sonera  Rus has  created  its own  network
       comprising two fiber-optic lines between Finland and Russia: FRL (Finnish
       - Russian Line) and FROG (Finnish - Russian Optical Gateway).  Sonera Rus
       is  licensed  to lease out  channels  in  Moscow,  Saint  Petersburg  and
       northwestern   region  of  Russia.  It  provides  data  transmission  and
       telematics services.

       Golden Telecom, Inc. is a lead operator of integrated  telecommunications
       and Internet in major cities of Russia, Ukraine, Kazakhstan and other CIS
       countries.  In  particular,  the company  renders local access  services,
       using its own overlay  networks in Moscow,  Kiev,  Saint  Petersburg  and
       Nizhny Novgorod; it also provides data transmission,  Internet,  domestic
       long-distance and cellular services.

       Golden  Telecom,  Inc.  comprises  three  principal  operators  including
       TeleRoss,  Sovintel and Golden Telecom-Ukraine,  and bases its activities
       in Russia and the CIS  countries  on a network of its  branches and joint
       ventures being in its ownership or controlled. Today the company offers a
       complete  range of data and voice  transmission  services  in 15  Russian
       cities: Moscow, Arkhangelsk,  Vladivostok,  Volgograd, Voronezh, Irkutsk,
       Krasnodar, Nizhny Novgorod, Novosibirsk,  Samara, Syktyvkar, Tyumen, Ufa,
       and Khabarovsk.

       Sistema  Telecom was  established  on 1 July 1998 as a subsidiary  of OAO
       Aktsionernaya Finansovaya Kompania Sistema (OAO AFK Sistema).

<PAGE>

       Sistema  Telecom holds  presence in various  market  segments,  including
       telephony, data transmission,  the Internet, cellular,  satellite, paging
       and trunking  communications.  MTU-Intel,  Comstar,  MTU-Inform,  Telmos,
       Vympel-Sistema,  MSS, MTS, Golden-Line and other companies are members of
       the Sistema Telecom group.

       Open Joint Stock Company Comincom comprises Norwegian  telecommunications
       operator Telenor as shareholder.

       The  key   components   of  the  Open  Joint   Stock   Company   Comincom
       communications   network  are   satellite   communications   network  and
       integrated transportation network operating mostly on-land communications
       facilities and providing for joint  transmission  of any type of traffic.
       Currently,  Comincom  services  include  local  communications,  domestic
       long-distance  and   international   telephone   communications   through
       allocated and public service networks, data transmission, Internet, ISDN,
       videoconferencing,   and  other   services.   Open  Joint  Stock  Company
       Comincom's  subsidiary  Closed Joint Stock Company  Combellga is its main
       Internet provider in Moscow.

       Besides the above  competitors,  Rostelecom is also  challenged by a high
       level of competition from alternative  operators such as Open Joint Stock
       Company Gazcom and Open Joint Stock Company Enifcom.  These companies are
       acting under the corporate  patronage of Open Joint Stock Company Gazprom
       and RAO UES respectively.

       The Company  realizes  that it should  develop and change  abreast of the
       market  evolution in order to remain  competent.  For this  purpose,  the
       Company  has  prepared  and  started  implementing  a program of priority
       measures, which the Company expects will ensure achievement of its goals.
       The  further  development  of the  Company  will be driven by  commercial
       priorities indicated by customer demands.

       Rostelecom's primary objectives for 2002 are as follows:

       o  implementing  a system of monitoring  competition  environment  in the
          market; and

       o  developing and implementing an aggressive marketing strategy.

       The Company's  marketing  strategy for 2002 is to strengthen its position
       on both Moscow retail market by optimizing  the end-user  tariffs and the
       operator  market  by  increasing  the  traffic  volumes  passing  through
       Rostelecom network.

       The  reform  of  telecommunications  industry  and  continuing  company's
       reorganization  implemented  by  Sviazinvest  will  certainly  affect the
       competitors'  balance in the sector. The  yet-to-be-agreed  conditions of
       the liberalized  telecommunications  market,  pending  uncertainty in the
       future legal  environment  in the industry and terms on which  Rostelecom
       will enter the  demonopolized  market do not allow to make a more precise
       assessment of the competitive  environment.  Until Rostelecom's  non-core
       businesses,  cross-subsidy costs and other public obligations are finally
       negotiated with the Government,  it would be premature to count on a fair
       competition  on the Russian  telecommunications  market or calculate  its
       influence on the Company's operations.


The Characterization of Telecommunications Industry

       Seven  Russian  SuperRegional  Companies  ("SRCs")  install and  maintain
       subscriber  access  lines,   provide  local  switching  and  transmission
       services  and  interconnect   subscribers  with   Rostelecom's   domestic
       long-distance and international network.

<PAGE>

       The  restructuring  of Open Joint Stock Company  Sviazinvest was aimed to
       prepare the member companies of holding,  including  Rostelecom,  for the
       future liberated market conditions.

       Rostelecom,  on its part, has completed the branch network restructuring,
       which created 7 regional  branches  formed on the basis of the former 15.
       The Company  plans to merge 20 branches  into 10, which it believes  will
       improve  its  manageability  and reduce  internal  operating  costs.  The
       Company will also finalize the  principles  for  interaction  between the
       merged  Rostelecom  branches and combined  local  operators of Open Joint
       Stock  Company  Sviazinvest,  including  the master plan of network  data
       interconnection,  which will provide for effective  cooperation with SRCs
       in unregulated market conditions.

       The  successful  implementation  of  the  Company's  marketing  strategy,
       including the strengthened  position on the  long-distance  communication
       market,  entry into the  international  market of transit  services,  and
       captured dominant  position on the high-tech  services market, as well as
       implementation  of the  Company's  technological  strategy  envisaging an
       increase in throughput capacity and digital network  intellectualization,
       creation   and   development   of  a   multiservice   network   are   the
       accomplishments  which will allow  Rostelecom to prepare for the oncoming
       market liberalization.

       The  principal   factor   affecting   the   Company's   position  in  the
       telecommunications  market is the  imperfect  legal and  regulatory  base
       governing the  telecommunications  industry in Russia, which is reflected
       in the current tariff policy, social obligations of Rostelecom, accession
       procedures   and   licensing   policy   dictated   by  the   Ministry  of
       Communications.

       Being aware of the  importance  and value in  retaining  the  position of
       Rostelecom,   Svyazinvest   supports  the   Company's   monopoly  on  the
       telecommunications   market  and  actively  participates,   jointly  with
       Rostelecom,   in  the  governmental  reform  of  the   telecommunications
       industry,  asserts  Rostelecom's  rights for  reimbursement  for  "social
       costs"  and even  distribution  of social  obligations  among all  market
       participants,  and  contributes  to the  optimization  of  the  Company's
       interaction with other dependent entities of the Svyazinvest Group.

       In light of the  future  market  reform,  the state also  recognizes  the
       influence  exerted by  Rostelecom  on the  current  market and its future
       development.

       Today,  the Company almost fully  satisfies other  operators'  demand for
       trunk  network  services and has the  potential  to retain this  dominant
       position in the future. As a result of the arrangements undertaken by the
       state in light of the market  liberalization,  the Company may expect the
       long-distance  market to become more attractive once the  cross-subsidies
       practice is abandoned.

       The  Company  expects  that the  market  reform  will  shift  the  demand
       structure towards end-users' increased demand for modern digital services
       and  increase   competition   from  alternative   operators   working  in
       deregulated segments.

       The  Russian  government  has stated  the  importance  to retain,  in the
       process of reform, the system of integral control over the public network
       to  assure  effective   management  of  network  resources  and  national
       security.  The  efforts of the  Russian  government  are also  focused on
       providing for general conditions for effective utilization of investments
       in the  sector,  rendering  modern  communications  services to bodies of
       state  administration  in accordance with their growing demand,  creating
       conditions  for  Russia's   integration  into  the  European  and  global
       telecommunications  complex,  and ensuring  efficient  management  of the
       state property.

<PAGE>

34.    Investment Declaration. Description of the Issuer's Activity

       To be provided by investment funds only.

35.    Plans for the Issuer's Future Activity

       Since  its  foundation,  the  Company  has been  heavily  investing  into
       modernization  and  development of its  international  and  long-distance
       communications  networks.  The  first  stage  of the  investment  program
       provided for  construction of new and  modernization  of existing primary
       network  facilities.  The second stage  included the  switching  capacity
       expansion,  construction of new modern  communication lines and upgrading
       of  the  existing   trunks  and  stations  of  the  Russian   network  of
       international communications.

       Main Directions of Company's Development in 2002

       As a priority for 2002, the Company views  construction and modernization
       of its  network in order to increase  the volume of  existing  and future
       services.  The amount of the Company's  capital  investments in 2002 will
       reach 4.2  billion  rubles,  1.1  billion  of which  will be spent on the
       technical  maintenance of the Company's network. An estimated 1.1 billion
       rubles  construction  of new fiber optic lines intended to reach the most
       promising markets and a 2.0 billion rubles modernization project intended
       to increase the network throughput  capacity and promote new services are
       considered as the priority investment projects. New types of services are
       also planned to be developed.

       The most significant projects in 2002 are as follows:

       - FOL Ioshkar-Ola - Kirov with a link to Cheboksary;

       - International FOL Russia - Kazakhstan;

       - Baltic Cable System, Stage I;

       - Reconstruction of FOL Moscow - Novosibirsk;

       - Additional equipment of FOL Moscow - Novorossiisk;

       - FOL Gatikha - D. Konstantinovo with a link to Nizhny Novgorod;

       - FOL  Kaliningrad  -  Gvardeisk  with a link to the  state  border  with
       Lithuania; as well as construction of international telephone exchange in
       Kaliningrad, and

       - International FOL Russia - Azerbaidzhan.

       The  new   fiber-optic   cables  will  give  the  Company  an  access  to
       strategically important international directions and connect major cities
       with the Company's trunk network.

       The projects listed below are planned by the Company for 2002:

       - FOL  Yoshkar  - Ola - Kirov  will  connect  the  cities  of  Kirov  and
       Cheboksary to Rostelecom's trunk network;

       -  Construction  of FOL  Kaliningrdad  - Gvardeisk will provide access to
       Kaliningrad and Russia's state borders with Lithuania and Poland;

       - Construction of two new FOLs: FOL  Russia-Azerbaijan  and FOL Gatikha -
       D.Konstantinovo - Nizhny Novgorod.

<PAGE>

       The Company is upgrading its networks in order to increase the throughput
       capacity and offer new services:


       -  Construction  of the Baltic Cable System (1st Stage)  jointly with the
       Swedish company Telia, in the course of which the Moscow - St. Petersburg
       -  Kingisepp  line  using the  dense  wave-length  division  multiplexing
       ("DWDM") technology will also be upgraded and the Company's operations in
       respect of the international cable systems will be expanded.

       - Expansion of the Moscow - Novosibirsk line throughput capacity based on
       DWDM technology.

       - Expansion of the Moscow - Novorossiisk  line throughput  capacity based
       on DWDM technology.

       -   The   existing    FOLs   will   be    additionally    equipped   with
       wavelength-division   multiplex  equipment  that  will  ensure  effective
       operation  of the  existing  communications  lines  for a long  term  and
       provide  them with the required  throughput  capacity.  The  upgrading of
       these lines will use modern DWDM technology,  without  decommissioning of
       the existing PDH and SDH systems  operable in parallel  with DWDM,  which
       will allow to transfer all types of  information  at rates higher than 10
       Gb/s.

       -  Creation  of  Rostelecom  data  transmission  centers  accompanied  by
       introduction of intellectual  network services and a flexible multiplexor
       network.

       In addition, in 2002 the Company plans to:

       o  upgrade of a 34Mb/s microwave line to Arkhangelsk;

       o  upgrade of a microwave line by two digital paths of 17 Mbit/s each, to
          Yakutsk;

       o  continue   increasing   the   capacity  of  the  Eastern   segment  of
          Rostelecom's satellite network;

       o  upgrade    a    ground    satellite    communications    station    in
          Petropavlovsk-Kamchatsky and complete equipment of a ground station in
          Arkhangelsk;

       o  reconstruct   telecommunications   facilities   at  the  Main  Russian
          Television Center (GTsRT) in Ostankino;

       o  put into operation the Moscow-based MTS-9 switching center, which will
          significantly broaden the offered range of services;

       o  expand  the  platform  of  a  packet  telephony  exchange  in  Moscow,
          introduce   intellectual  services,  and  construct  packet  telephony
          gateways  to  St.  Petersburg,   Rostov-on-Don,  Samara,  Novosibirsk,
          Ekaterinburg,  Khabarovsk.  The first  stage is planned  to  implement
          services  for  international  vocal/facsimile  transit via IP,  mutual
          settlements among operators, and IP telephony-based  international and
          long-distance communications services for corporate customers.

       Rostelecom has  implemented  and is developing a variety of new services,
       which  largely   complement  the  already  existing   international   and
       long-distance  services.   Rostelecom  plans  to  start  offering  packet
       telephony and intellectual network services.


Marketing Strategy of the Company

<PAGE>


       The marketing  strategy of the Company  provides for acquiring a stronger
       position  on the  market  of  end-users  in Moscow  and on the  market of
       operators.

       In order to  implement  this  strategy,  the  Company has  established  a
       Commercial  Directorate.  Within  the next  year the  Company  will  also
       organize commercial subdivisions in all branches.

       To achieve its principal commercial objectives, in 2002 Rostelecom will:

       o  Set up a system of market monitoring;

       o  Optimize its tariff policy with respect to end-users in Moscow;

       o  Expand its activities on the operator  market in order to increase the
          traffic through its network, which activities will include:

          -  upgrading the system of settlements  with regional  operators so as
             to eliminate the cross-subsidy practice;

          -  introducing  a flexible  system of discounts  on package  services,
             which system will allow local  operators  to offer a more  flexible
             subscriber tariff system to, and thereby retain, important regional
             clients in the Rostelecom network;

          -  optimizing the tariff policy with respect to alternative operators;

          -  reviewing  agreements  with all  international  operators  so as to
             reverse the trend of decreasing incoming international traffic; and

          -  penetrating  the market of traffic  transit from Europe to Asia and
             back;

       o  Expand the range of its services by:

          -  introducing intellectual networks;

          -  offering package  services and  implementing a "one-stop  shopping"
             marketing strategy;

       o  Introduce a new approach to managing client relations; and

       o  Build a sales and service  system,  offer  incentives to stimulate the
          demand and sales.

       The principal objective of Rostelecom in the national operators market in
       2002 will be to  improve  the  system of  settlements  with the  regional
       operators.

       The   introduction   of  an  integrated   billing   system  will  improve
       inter-operator   settlements   on  all  offered   services,   keeping  of
       contractual  records,  monitoring  of client  profiles,  and provision of
       statistics and managerial information to relevant subdivisions. Also, the
       Company expects that the billing system will help to:

       o  improve the technology of settlements  on  international  and domestic
          long-distance   traffic  exchange  with   international   and  Russian
          operators and adjust it to international standards;

       o  create a flexible  automated  system  for  tariffication  and  keeping
          contractual documentation;

<PAGE>

       o  automate the processes of keeping normative and reference information;
          and

       o  resolve  issues  related  to  transmission   from   settlements   with
          associated operators based on integral settlement rates to settlements
          based on traffic throughput.

       The Company believes that these new technologies  will create  additional
       traffic in the existing public network and secure additional revenues for
       both the Company and national operators.  The "free call,"  "televoting,"
       "premium tariff" and "virtual private  networks"  services are planned to
       be based not only on the intellectual  platform of Rostelecom but also on
       platforms of other  operators  which will become  connected to Rostelecom
       network in the next year.

       The  marketing  strategy of the Company seeks to develop  relations  with
       international  operators,  optimize  outgoing  and  incoming  rates,  and
       consider  opportunities for entering the market of international  traffic
       transit.

       To continue work with individual  consumers in Moscow,  the Company plans
       to develop two programs for the end-user market, including pre-paid cards
       communication services as well as public phones network and centers.

       The  implementation of its marketing  strategy will enable the Company to
       increase  its  revenues  considerably,  strengthen  its  position  on the
       international  operator market and position itself as a national operator
       on the Russian market.

       The Company's  current  priority is to retain its position on the markets
       of   long-distance   telephone   communication,   channel   lease,   data
       transmission and other services,  and  simultaneously  improve Rostelecom
       consumer  image by offering new services to, and thereby  conquering  new
       segments of, the market.

       To make customer work more efficient and secure loyalty of its clientele,
       the Company is planning the following programs to be renovated:

       1) Upgrade of customer contracts;

       2) Debit and credit cards;

       3) Unified inquiry service;

       4) Retail outlets.


36.    Data on the Issuer's Charter Capital

       Amount of the issuer's charter capital (rub.):  2,428,819.4725

       Charter capital breakdown by share category:
       Ordinary shares:
         total amount (rub.):  1,821,740.8
         Share of the charter capital:  75.005196 %
       Preferred shares:
         total amount (rub.):  607,078.6725
         Share of the charter capital:  24.994804 %

37.    Data on the  Participation  of the  State  (Municipal  Formation)  in the
       Issuer's Charter Capital

       Share  of the  issuer's  charter  capital  being  the  state  (municipal)
       property: None

<PAGE>

       Share of the block of the issuer's  shares held in the state  (municipal)
       property: None

       Existence of the special  right of the Russian  Federation,  its subjects
       and municipal  formations  to  participate  in the issuer's  management (
       "golden share "): no such right exists

38.    Data on the Issuer's Authorized Shares

       38.1
       Category of shares:  ordinary
       Form of shares:  registered, non-documentary
       Full name of category/class of authorized shares:  ordinary
       Par value (rub.):  0.0025
       Number:  905,330,221
       Total (rub.):  2,263,325.5525
       Terms of placement: 8.1. the company is entitled to place its shares, and
       other securities that are convertible into shares through both public and
       closed subscriptions, except in cases when the applicable laws of the
       Russian Federation permit the placement of shares only through public
       subscription.

       The procedure and term of the shares'  placement through public or closed
       subscription shall be determined by the Board of Directors or the General
       Shareholders'  Meeting of the Company,  as  stipulated in Clause 6.4. and
       Clause 6.5. [of its Charter].

       8.2. When  increasing the charter capital by placing  additional  shares,
       the placed shares should be paid for at the market value,  which shall be
       established  by the  Board of  Directors  together  with the issue of the
       charter capital increase, through the procedure and by methods stipulated
       by the applicable laws of the Russian  Federation.  Herewith,  the market
       value of the shares being placed may not be established  lower than their
       nominal value.

       The  Company  shall  place  shares at equal  market  price which shall be
       applicable  to all  buyers of the  securities  during  the whole  term of
       placement of shares.

       8.3.  When  additional  shares are  placed,  the Company and any buyer of
       shares execute a civil law agreement on the purchase of shares.  Pursuant
       to such  agreement,  the placed  shares shall be paid for within the term
       specified pursuant to the decision on their placement, but not later than
       one year following the moment of placement thereof. The shares payable in
       monetary form shall be paid for at the moment of  acquisition  thereof in
       accordance  with the decision on  placement  of such  shares.  The shares
       which  are not  paid in  monetary  form,  are to be paid in full at their
       acquisition  unless  the  decision  on  placement  of  additional  shares
       provides for otherwise.

       8.4. The shares being placed may be paid for in money, securities,  other
       property or property rights, or other rights which have a monetary value.

       Herewith,  the  shares  being  placed may not be paid by  offsetting  the
       buyer's  claims to the  Company,  nor may such  shares be paid with other
       securities of the Company.

       The form of payment for the additional  shares is to be determined by the
       decision on the placement of such shares.

       In  the  event  that   additional   shares  are  placed   through  public
       subscription,  payment for the shares shall be effected  only in monetary
       form unless the decision on the placement of additional  shares  provides
       otherwise.

       8.5.  Where  the  shares  are to be paid for in  non-monetary  form,  the
       monetary  value of the  property  contributed  as payment  for the shares
       shall be determined by a simple majority of votes of members of the Board
       of Directors  present at the meeting.  Herewith,  the market


<PAGE>

       value of the  property  contributed  as payment  for the shares  shall be
       determined through a procedure established by the applicable laws.

       8.6.  The Audit  Commission  of the  Company  shall  select and retain an
       independent  evaluator whose  participation in assessing the market value
       of the contributed property is a mandatory  requirement of the applicable
       laws  of  the  Russian   Federation   for  the  payment  of  shares  with
       non-monetary means.

       38.2
       Category of shares:  preferred
       Class of shares:  A
       Form of shares:  registered non-documentary
       Full name of category/class of authorized shares:  preferred, class A
       Par value (rub.):  0.0025
       Number:  531
       Total amount (rub.):  1.3275
       Terms of placement:  see previous section

39.    Material Contracts and Obligations of the issuer

       None

40.    Issuer's   Obligations   Associated  with  the  Issuance  of  Shares  and
       Securities Convertible into Shares

       9.6. In the event of  placement by the Company of  additional  shares and
       the issuance of securities  that are convertible  into shares,  which are
       placed through public subscription, the Company's shareholders shall have
       the preemptive  rights to acquire such shares to the extent  proportional
       to their shareholdings of the respective category (class), which shall be
       exercised in accordance with the procedure established under federal law.

41.    Information on Sanctions Against the Issuer and the Issuer's  Involvement
       in Proceedings and Investigations

Sanctions  against the issuer  imposed by  governmental  bodies,  court,  during
reporting quarter financial year and three financial prior years.

       Sanction imposed on:  July 14, 1999
       Imposing body:  Ministry of Antimonopoly Policy of the Russian Federation
       Reasons for imposing: violation of paragraph 4 of Article 17 of the RSFSR
       Law "On  Competition  and  Limitation of  Monopolistic  Activities on the
       Commodities Markets"
       Type of sanction:  administrative penalty (fine)
       Amount of sanction (rub.):  2,087.25
       Degree of execution of the sanction:  executed

       Sanction imposed on:  August 17, 2001
       Imposing  body:   Sverdlovsk   Territorial   Department  of  Ministry  of
       Antimonopoly Policy of Russia
       Reasons for imposing:  violation of Article 18 of the Law "On Competition
       and Limitation of Monopolistic Activities on Commodities Markets"
       Type of sanction:  administrative penalty (fine)
       Sanction amount (rub.):  25,000
       Degree of execution of the sanction:  executed

       Sanction imposed on:  October 6, 2001
       Imposing  body:  Federal  Commission  on the  Securities  Markets  of the
       Russian Federation
       Reasons for  imposing:  violation  of paragraph 5 of the  Regulations  on
       Quarterly  Report of the issuer of Securities,  adopted by the Resolution
       of FCSM of Russia as of August 11, 1998 No.

<PAGE>

       31
       Type of sanction:  administrative penalty (fine)
       Sanction amount (rub.):  10,000
       Degree of execution of the sanction:  executed


Description  of  substance  of all  on-going or ceased  trials in the  reporting
quarter, that may substantially influence issuer's activities:

       1. Case  considered by the Arbitrazh Court of the City of Moscow upon the
       claim  of OJSC  Rostelecom  to  Savings  Bank of the  Russian  Federation
       arising from the undue  performance of the bank account  agreement  dated
       October 22,  1998,  write-off  of the  monetary  funds  according  to the
       payment order of August 2, 1999 No. 99666 in the electronic form.

       Pursuant to its ruling of May 31, 2000,  the court of the first  instance
       left the claim without  consideration  due to the  non-observance  of the
       pre-trial   procedure  for  the  dispute  settlement   envisaged  by  the
       agreement. Appellate division of the court upheld the above ruling in its
       ruling dated July 27, 2000.

       In its ruling dated  September 28, 2000, the Federal  Arbitrazh  Court of
       the Moscow Region  repealed the above acts, and the case was  transferred
       to the first instance of the Arbitrazh Court of the City of Moscow.

       Arbitrazh Court of the City of Moscow ruled against the Company,  and the
       appellate  division upheld that decision.  On March 22, 2001  cassational
       division  repealed the acts of the lower  divisions and  transferred  the
       case  to a new  consideration.  In the  decision  of July  6,  2001,  the
       Arbitrazh  Court of the City of Moscow  ruled that a technical  expertise
       should   be  held  to   examine   electronic   payment   system   of  the
       "Client-Sberbank"  system.  The next court hearing is scheduled  upon the
       expertise will be completed - on 04 January 2003.

       2. A court  case  initiated  upon OJSC  Rostelecom's  claim to the Moscow
       Inter-District  Tax  Inspectorate  No. 40 on invalidation of the latter's
       Decision  dated  October 29, 2002 on the  imposition of tax liability for
       the  violation of tax law,  namely,  the failure to pay (failure to fully
       pay) the Unified Social Tax as a result of incorrect tax calculation,  in
       form  of a fine  in the  amount  of 20% of  the  tax  amount  not  paid -
       384,293.23 rubles, as well as the collection of the tax amount not paid -
       1,921,466.16 rubles from OJSC Rostelecom.

       From the tax authority's point of view, in the process of the calculation
       of the Unified  Social Tax amount and its  advance  payment for the first
       half of  2002  OJSC  Rostelecom  calculated  incorrectly  the  amount  of
       expenses  for the  purposes of state  social  insurance.  Pursuant to the
       ruling of Arbitrazh  Court of the City of Moscow,  a preliminary  hearing
       was held on December 23, 2002.  Court  proceedings  on merits of the case
       were scheduled for January 22, 2003.

       3. Court  cases  initiated  upon OJSC  Rostelecom's  claims to the Moscow
       Inter-District  Tax  Inspectorate  No. 40 on invalidation of the latter's
       Decisions on the  imposition  of tax  liability for violation of tax law,
       namely,  the failure to pay the VAT as a result of the  non-justification
       of the VAT zero-rate application for the period from December 2001 to May
       2002 when rendering services to foreign diplomatic representative offices
       and agencies  equated to such, as a consequence of the failure to deliver
       a full  set  of  documents  in  accordance  with  the  Regulation  of the
       Government of the Russian Federation No. 1033 approving "The Rules of the
       VAT Zero-Rate Application when Rendering Services for the Official Use by
       Foreign Diplomatic  Representative Offices and Agencies Equated to Such",
       dated  December 31,  2002,  in form of a fine in the amount of 20% of the
       tax amount not paid - 19,377 rubles in aggregate,  as well as Decision on
       the  collection  from  OJSC  Rostelecom  of the  VAT  amount  not  paid -
       216,303.80 rubles in aggregate.  Preliminary  hearings were scheduled for
       January-February 2003.

<PAGE>

       4. A court case  considered by the Arbitrazh  Court of the City of Moscow
       upon a claim  brought to  invalidate an agreement on sale and purchase of
       the premises  located in Moscow and  demolished  in  accordance  with the
       regulatory  rules of the  Moscow  Government's  acts.  The  claim to OJSC
       Rostelecom  was  rejected in the first  instance  by the  Decision of the
       Arbitrazh Court of the City of Moscow dated December 10, 2002.


Description  of grounds for all  on-going  or  finalized  investigations  of the
issuer in the reporting  quarter,  carried out by the governmental  authorities,
and  audits  of  the  issuer  carried  out at the  request  of its  participants
(shareholders):

       None

42.    Material Facts (Events, Actions) Taking Place in the Reporting Quarter

       Date of occurrence of the fact (event, action): October 09, 2002
       Code:  0400124A09102002

       Full name of the legal entity,  issuer's share in the charter  capital of
       which  has  changed:  Closed  Joint-Stock  Company  Moscow  Center of New
       Technologies in Telecommunications
       Location of the legal entity:  46, Arbat st., Moscow, 121002
       Postal address of the legal entity:  46, Arbat st., Moscow, 121002
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity before change: 20%
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity after change: 60%


       Date of occurrence of the fact (event, action): October 10, 2002
       Code:  0400124A10102002

       Full name of the legal entity,  issuer's share in the charter  capital of
       which has changed: Closed Joint-Stock Company Westelcom
       Location of the legal entity:  26, Sushevskiy Val, Moscow, 127018
       Postal address of the legal entity:  26, Sushevskiy Val, Moscow, 127018
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity before change: 50%
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity after change: 100%


       Date of occurrence of the fact (event, action): October 15, 2002 Code:
       0400124A15102002

       Full name of the legal entity,  issuer's share in the charter  capital of
       which has changed: Closed Joint-Stock Company RTC-Invest
       Location of the legal entity:  5, Delegatskaya st., Moscow, 127091
       Postal address of the legal entity:  42-2A, Schepkina st., Moscow, 129110
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity before change: 13.51%
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity after change: 0.34%


       Date of occurrence of the fact (event, action):  November 10, 2002

<PAGE>

       Code: 0900124A10112002

       As compared to the second quarter of the year 2002, the profit has grown
       by 3,864,970 thousand rub., which constitutes 805%. The increase is
       comprised of:
       -  increase in  non-operating  gains in the amount of 2,428,191  thousand
          rub., due to realization of financial investments;
       -  decrease in operating expenses in the amount of 988,982 thousand rub.,
          mostly due to the fact that a greater part of the bad-debt reserve was
          formed in the second quarter
       Nominal change of profit (loss) for the reporting  quarter as compared to
       the profit  (loss)  for the  quarter  preceding  the  reporting  quarter:
       3,864,970,000 rub.

       The  issuer's  profit  (loss) for the  quarter  preceding  the  reporting
       quarter: 480,344,000 rub.
       The issuer's profit (loss) for the reporting quarter: 4,345,314,000 rub.


       Date of occurrence of the fact (event, action): November 10, 2002
       Code:  0800124A10112002

       The issuer's  assets value as of September 30, 2002 as compared to assets
       value as of June 30, 2002 has increased by 3,746,205 thousand rub., which
       equals 10 %. The increase of assets is comprised by the following items:
       -  investments in other organizations in the amount of 1,306,160 thousand
          rub., purchase of Golden-Telecom shares;
       -  short-term  financial  investments in the amount of 2,731,181 thousand
          rub., purchase of promissory notes.

       Nominal  change in the  value of  assets  as of the end of the  reporting
       quarter is 3,746,205 thousand rub., as compared to the value of assets as
       of the end of the quarter preceding the reporting quarter.

       Value of  issuer's  assets  as of the end of the  quarter  preceding  the
       reporting quarter: 36,666,638 thousand rub.
       Value  of  issuer's  assets  as of  the  end of  the  reporting  quarter:
       40,412,843 thousand rub.


       Date of occurrence of the fact (event, action): November 10, 2002
       Code:  1800124A10112002

       On October 3, 2002, the Board of Directors of OJSC  Rostelecom  adopted a
       decision on approval of the  transaction  with Closed Joint Stock Company
       Westelcom  on  providing  capacity  of the BSFOCS  international  channel
       system (Bulgaria-Ukraine-Russia) to OJSC Rostelecom.
       The date of closing of the transaction  was November 10, 2002,  which was
       the date of the  receipt of the  official  notice on the  entering of the
       agreement into force from CJSC Westelcom.  The agreement was concluded on
       August 5, 2002 with a condition precedent for entry into force.

       Counterparties and beneficiary under transaction:
       Name: CJSC Westelcom
       Place of location: 26 Suschevsky Val, 127018, Moscow
       Mail address: 26 Suschevsky Val, 127018, Moscow


       Date of occurrence of the fact (event, action): November 15, 2002
       Code:  1800124A15112002

<PAGE>

       The  governing   body  of  the  issuer  that  has  adopted  a  resolution
       authorizing  to execute the  transaction:  The Board of Directors of OJSC
       Rostelecom (Protocol No5 October 3, 2002).
       Full  name of the legal  entity,  contracting  party in the  transaction:
       Closed Joint-Stock Company Globus-Telecom.
       Location of the legal entity,  contracting  party in the transaction:  38
       Obraztsova Str., Moscow 127018
       Postal address of the legal entity, contracting party in the transaction:
       38 Obraztsova Str., Moscow 127018
       Description:   Interconnection   between  CJSC  Globus-Telecom  and  OJSC
       Rostelecom  respective   telecommunications   networks  to  provide  CJSC
       Globus-Telecom  network  subscribers with PSTN access to ensure rendering
       of long-distance national and international  telecommunications services.
       The  Agreement  shall enter into force after the  interconnection  is put
       into operation and a corresponding  Acceptance  protocol  certifying this
       fact is executed.

       Date of occurrence of the fact (event, action): December 06, 2002
       Code:  1800124A06122002

       The  governing   body  of  the  issuer  that  has  adopted  a  resolution
       authorizing  to execute the  transaction:  The Board of Directors of OJSC
       Rostelecom  (Protocol  No5   October  3,  2002).  Full  name of the legal
       entity,  contracting party in the transaction:  Open Joint-Stock  Company
       RTComm.RU
       Location of the legal entity,  contracting  party in the transaction:  32
       Nizhegorodskaya Str., building 15, 8th floor, Moscow 109029
       Postal address of the legal entity, contracting party in the transaction:
       32 Nizhegorodskaya Str., building 15, 8th floor, Moscow 109029
       Description: OJSC Rostelecom acting as Agent in accordance with the Agent
       Agreement  between OJSC  Rostelecom  and OJSC  RTComm.RU is authorized to
       undertake  all  legal and  actual  acts  necessary  for  signing  service
       contracts with international operators.
       Agreement entered into force: December 06, 2002


       Date of occurrence of the fact (event, action): December 06, 2002
       Code:  1800124A06122002

       The  governing   body  of  the  issuer  that  has  adopted  a  resolution
       authorizing  to execute the  transaction:  The Board of Directors of OJSC
       Rostelecom (Protocol No5 October 3, 2002).
       Full name of the legal entity, contracting party in the transaction: Open
       Joint-Stock Company RTComm.RU
       Location of the legal entity,  contracting  party in the transaction:  32
       Nizhegorodskaya Str., building 15, 8th floor, Moscow 109029
       Postal address of the legal entity, contracting party in the transaction:
       32 Nizhegorodskaya Str., building 15, 8th floor, Moscow 109029
       Description: OJSC Rostelecom acting as Agent in accordance with the Agent
       Agreement  between OJSC  Rostelecom  and OJSC  RTComm.RU is authorized to
       undertake  all legal and actual  acts  necessary  for  signing  the State
       contract with Federal Agency for Government Communication and Information
       under the President of the Russian Federation (FAGCI).
       Agreement entered into force: December 06, 2002


       Date of occurrence of the fact (event, action): December 27, 2002
       Code:  0400124A27122002

       Full name of the legal entity,  issuer's share in the charter  capital of
       which has changed: Open Joint-Stock Company RTComm.RU
       Location of the legal entity: 32 Nizhegorodskaya  Str.,  building 15, 8th
       floor, Moscow 109029

<PAGE>

       Postal address of the legal entity: 32 Nizhegorodskaya Str., building 15,
       8th floor,  Moscow 109029
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity before change: 25.00001%
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity after change: 31.1%


       Date of occurrence of the fact (event, action): December 27, 2002
       Code:  1800124A27122002

       The  governing   body  of  the  issuer  that  has  adopted  a  resolution
       authorizing  to execute the  transaction:  The Board of Directors of OJSC
       Rostelecom  (Protocol  No8  December 10,  2002).   Full name of the legal
       entity,  issuer's share in the charter capital of which has changed: Open
       Joint-Stock Company RTComm.RU
       Location of the legal entity: 32 Nizhegorodskaya  Str.,  building 15, 8th
       floor, Moscow 109029
       Postal address of the legal entity: 32 Nizhegorodskaya Str., building 15,
       8th floor, Moscow 109029
       Description:  Signing of an  agreement  on the  purchase of 1 250 000 001
       ordinary shares of additional  share issue by OJSC "RTComm.Ru" at nominal
       value of 0,01 rubles per share with the total value of the  transaction -
       12 500 000 rubles.
       Agreement entered into force: December 25, 2002


       Date of occurrence of the fact (event, action): December 30, 2002
       Code:  0400124A30122002

       Full name of the legal entity,  issuer's share in the charter  capital of
       which has changed: Open Joint-Stock Company MS-Tel
       Location of the legal entity: 22, Marxistskaya St., Moscow, 109147
       Postal address of the legal entity:  22, Marxistskaya St., Moscow, 109147
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity before change: 50%
       Share of Open Joint Stock Company  Rostelecom  in the charter  capital of
       the legal entity after change: 0%


43.    Information  on  Reorganization  of  the  Issuer,  its  Subsidiaries  and
       Dependent Companies

       Reorganization of Open Joint Stock Company  Rostelecom,  its subsidiaries
       and dependent companies was not performed during the reporting quarter.

44.    Additional Material General Information on the Issuer

       No information.

         B. Information on the Issuer's Financial and Economic Activitiy

45.    Annual Accounting Statements for Last Three Financial Years

       This information does not have to be presented in the reporting quarter.

46.    Accounting Statements of the Issuer for the Reporting Quarter

       This information does not have to be presented in the reporting quarter.

<PAGE>


47.    Events  Resulting in Increase or Decrease of the  Issuer's  Assets in the
       Reporting Quarter by Over 10 Percent

       This information does not have to be presented in the reporting quarter.

48.    Events  Resulting in the Increase in the  Issuer's  Profit  (Loss) in the
       Reporting  Quarter by Over 20  Percent,  as  Compared  with the  Previous
       Quarter

       This information does not have to be presented in the reporting quarter.

49.    Information  on  Establishment  and Use of the Issuer's  Reserve Fund and
       Other Special-Purpose Funds

       No funds have been established or used in the reporting quarter.

50.    The Issuer's  Transactions in the Reporting Quarter Amounting at Least to
       10 Percent of the Issuer's Assets as per the End of the Quarter Preceding
       the Reporting Quarter.

       No such deals have taken place in the reporting quarter.

51.    Information  on  Allocation  of Funds Raised by the Issuer as a Result of
       Placement of Issue Securities.

       The funds were not applied as mentioned above in the reporting quarter.

52.    Borrowed  Assets  Received  by the  Issuer  and Its  Subsidiaries  in the
       Reporting Quarter

       Not applicable this Quarter

53.    Accounts  Payables and Receivables of the Issuer and Its Subsidiaries for
       the Reporting Quarter

       Not applicable this Quarter

54.    Issuer's Financial Investments

       Not applicable this Quarter

55.    Other  Material  Information  on  the  Issuer's  Financial  and  Economic
       Activity

       No information

                       C. Data on the Issuer's Securities

56.    Data on the Issuer's Shares

Issue Number: 1
Category: Ordinary
Form of Shares: registered non-documentary shares
Nominal Price of One Issued Share: 0.0025

Number of Issued Shares: 700 312 800
Total Issue Amount: 1 750 782

Data on the Issue State Registration:
Date of Registration: November 10, 1993
Registration Number: 73-I"n"-1947

<PAGE>

Body of State Registration: Finance Department of the Government of Moscow

Offering Method: Placement in accordance with the privatization plan
Offering Period: From November 30, 1993 to April 28, 1994

Present Issue State: Securities have been partially redeemed (cancelled)
Number of Placed  Securities in  Accordance  with the  Registered  Report of the
Issue: 700 312 800
Number of Outstanding Securities: 700 276 141
Number of Redeemed (Cancelled) Securities: 36 659

Data on State Registration of the Report of the Issue:
Registration Date: August 9, 1999
Body of State Registration: FCSM

Limitations on circulation of issue securities (if any): None

Market information on the issue securities:

       Currently,  the Company  maintains  agreements  for the listing of shares
       with the exchanges  licensed by the Federal Commission for the Securities
       Market  of the  Russian  Federation,  which  are  recognized  traders  of
       securities of the Russian issuers, namely:

       a) Moscow Interbanking Currency Exchange (MICEX). Address: build. 1, 1-13
       Bolshoy Kislovsky Pereulok.  Telephone:  234-4816. General Director: A.V.
       Zakharov. Agreement No. 449-2.8, dated 12 November 1997.

       b) Noncommercial  Partnership RTS Stock Exchange.  Address:  15 Chayanova
       Ulitsa.  Telephone:  705-9031.  President:  I.A.  Tyryshkin.  Cooperation
       Agreement No. LK-17, dated 17 October 1997.

       c) The ordinary shares of the Company are traded as the level II American
       depositary  receipts (ADR) on the New-York,  London,  Berlin,  Frankfurt,
       Dusseldorf,  Stuttgart, Bavaria, and Hamburg stock exchanges. The options
       for ADRs are traded on the Chicago Stock Exchange.

Additional material information on the issue securities:

       In accordance with the privatization  plan approved by the Resolution No.
       1507-r of the State Property Committee, dated August 27, 1993, the amount
       of the charter capital of the issuer was 2,334,376,000 (two billion three
       hundred   thirty-four   million  three  hundred   seventy-six   thousand)
       non-denominated rubles;  2,334,376 registered shares were issued with the
       nominal value of 1,000 non-denominated rubles,  including 583,594 Class A
       and 47,007 Class B preferred shares, and 1,703,775 ordinary shares.

       The shares were issued in non-documentary form.

       The state  registration  of the shares of Joint Stock Company of the Open
       Type Rostelecom for the amount of 2,334,376,000  non-denominated  rubles,
       including  1,703,775  ordinary  shares  for the  amount of  1,703,775,000
       non-denominated  rubles with the nominal  value of 1,000  non-denominated
       rubles  and  630,601  preferred  shares  for the  amount  of  630,601,000
       non-denominated  rubles with the nominal  value of 1,000  non-denominated
       rubles was effected by the Finance Department of the Government of Moscow
       (Letter No.  06-22/1947,  dated November 15, 1993) in accordance with the
       Resolution No. 547 of the Government of the Russian  Federation,  dated 4
       August 1992. The code of the state  registration  No. 71-I "n" - 1947 was
       assigned to the issue of shares on November 10, 1993.

<PAGE>

       The initial  placement of the shares of OJSC  Rostelecom  was effected in
       accordance with the  requirements  of the First variant of  privatization
       privileges. The date of disclosure of the information on the issuance and
       the date of the beginning of the initial placement was November 30, 1993,
       the relevant  announcement having been published in "Rossiiskaya Gazeta,"
       on November 30, 1993.

       The  shares  were  distributed  on  the  basis  of  the  applications  of
       shareholders,   the   minutes   of  the   meetings   of  the   employees'
       representatives,  the  minutes  of  the  meeting  of  the  commission  on
       privatization and minutes of the auctions for the sale of shares.

       The following shares were placed through private subscription, which took
       place from November 30, 1993 to January 13, 1994:

       -   9.16% of the ordinary  shares were placed among  employees and former
       employees of the company on preferential  terms (with a 30% discount from
       the nominal value);

       -   4.94% of the ordinary shares were placed among executive  officers of
       the administration at the nominal value;

       -   25% of the  preferred  shares were placed among  employees and former
       employees of the company without charge;

       -   38% of the ordinary  shares were retained at the  disposition  of the
       State Property Committee for the three-year period; and

       -   22.9% of the ordinary  shares were retained at the disposition of the
       Russian Fund of Federal Property for the sale at auctions.

       21.88% of the shares were sold at the interregional  voucher auction held
       by the Russian Fund of Federal  Property from March 14, 1994 to April 12,
       1994.  The  auction  resulted  in the one to eighty  split of the shares.
       After the split the total  amount  of the  ordinary  shares  amounted  to
       140,062,560  and the total amount of the  preferred  shares to 46,687,520
       with the nominal value of 12.5 non-denominated rubles.

       April 28, 1994 is  considered  as the date of  completion  of the initial
       placement of the shares, which was the date of the closing of the voucher
       auction (Minutes No. 9358 of the voucher auction held by the Russian Fund
       of Federal  Property,  dated  April 28,  1994) and the date of the global
       operation in the shareholders  register. The special cash auction held by
       the  Russian  Fund of Federal  Property  from July 10, 1995 to August 11,
       1995, on which 0.87% of the shares were sold,  resulted in the subsequent
       one to five split of the  shares.  As a result the  nominal  value of the
       shares amounted to 2.5 of non-denominated rubles, the total amount of the
       ordinary  shares  amounted to 700,312,800  shares,  including  18,802,800
       Class B registered  preferred  shares and  233,437,600  Class A preferred
       shares.

       As a result of the  change of the face  value of the ruble on  January 1,
       1998,  the  nominal  value of the shares  amounted  to 0.0025  ruble.  In
       addition, two cash auctions were held on July 26, 1994 (0.13% shares were
       sold) and 31 January 1996 (0.022% of the shares were sold).

       The date of the global operation in the  shareholders  register was April
       28, 1994.  Closed Joint Stock Company Irkol,  the specialized  registrar,
       effected the global operation  (Agreement No. 188 on Registrar  Services,
       dated 7 April 1994). The registered address of the registrar: build. 1, 7
       Novatorov Unlitsa, Moscow 107078. Telephone:  208-1515. General Director:
       Vladislav Victorovich Moskalchuk.

       On  July  8,  1997  the  Russian  Fund of  Federal  Property  transferred
       354,825,200  ordinary shares as the contribution into the charter capital
       of Open Joint Stock Company Svyazinvest, which amounted to 38.005% of the
       charter capital of the Company.

<PAGE>

       Issue Number: 1
       Category: Preferred
       Class: A
       Form of Shares: registered non-documentary shares
       Nominal Price of One Issued Share: 0.0025

       Number of Issued Shares: 233,437,600
       Total Issue Amount: 583,594

       Data on the Issue State Registration:
       Date of Registration: November 10, 1993
       Registration Number: 73-I"n"-1947
       Body of State Registration: Financial authorities

       Offering Method: Placement in accordance with the privatization plan
       Offering Period: From November 30, 1993 to April 28, 1994

       Present Issue State: Securities have been partially redeemed (cancelled)
       Number of Placed  Securities in Accordance with the Registered  Report of
       the Issue: 233,437,600
       Number of Outstanding Securities: 233,358,300
       Number of Redeemed (Cancelled) Securities: 79,300

       Data on State Registration of the Report of the Issue:
       Registration Date: August 9, 1999
       Body of State Registration: FCSM


Limitations on Circulation of Issue Securities (if any): None

Market Information on the Issue Securities:

       Currently,  the Company  maintains  agreements  for the listing of shares
       with the exchanges  licensed by the Federal Commission for the Securities
       Market  of the  Russian  Federation,  which  are  recognized  traders  of
       securities of the Russian issuers, namely:

       a)  Moscow  Interbanking  Currency Exchange (MICEX).  Address:  build. 1,
       1-13 Bolshoy Kislovsky Pereulok.  Telephone:  234-4816. General Director:
       A.V. Zakharov. Agreement No. 449-2.8, dated 12 November 1997.

       b)  Noncommercial  Partnership RTS Stock Exchange.  Address: 15 Chayanova
       Ulitsa.  Telephone:  705-9031.  President:  I.A.  Tyryshkin.  Cooperation
       Agreement No. LK-17, dated 17 October 1997.

Additional Material Information on the Issue Securities: No information

Issue Number: 2
Category: Ordinary
Form of Shares: registered non-documentary shares
Nominal Price of One Issued Share: 0.0025

Number of Issued Shares: 28,420,603
Total Issue Amount: 71,051.5075

Data on the Issue State Registration:
Date of Registration: August 16, 1999
Registration Number: 1-02-00124-A
Body of State Registration: FCSM

<PAGE>

Offering Method: conversion in the course of reorganization
Offering Period: from August 28, 2000 to August 28, 2000

Present Issue State: Placement has been completed
Number of Placed  Securities in  Accordance  with the  Registered  Report of the
Issue: 28,420,179

Data on State Registration of the Report of the Issue:
Registration Date: October 11, 2000
Body of State Registration: FCSM

Limitations on Circulation of Issue Securities (if any): none

Market Information on the Issue Securities:
See paragraph 56

Additional Material Information on the Issue Securities:
No information

Issue Number: 2
Category: preferred
Class: A
Form of Shares: registered non-documentary shares
Nominal Price of One Issued Share: 0.0025

Number of Issued Shares: 9,473,534
Total Issue Amount: 23,683.835

Data on the Issue State Registration:
Date of Registration: August 16, 1999
Registration Number: 2-02-00124-A
Body of State Registration: FCSM

Offering Method: conversion in the course of reorganization
Offering Period: from August 28, 2000 to August 28, 2000

Present Issue State: placement has been completed
Number of Placed  Securities in  Accordance  with the  Registered  Report of the
Issue: 9,473,169

Data on State Registration of the Report of the Issue:
Registration Date: October 11, 2000
Body of State Registration: FCSM

Limitations on Circulation of Issue Securities (if any):  none

Market Information on the Issue Securities:  see paragraph 56

Additional Material Information on the Issue Securities:  no information

57. Data on the Issuer's Bonds

No bonds have been issued by the issuer


                    D. Other Data on the Issuer's Securities


58, 59, 60.  Rights of the  Issuer's  Shareholders.  Dividends  on the  Issuer's
             Shares

<PAGE>

58.1

Category of Shares: preferred
Class: A
Form of Shares: registered non-documentary shares
Full Name of Category/ Class of Authorized Shares: class A preferred shares
Holder Rights for Shares of this Category (Class):


       10.1.  Each  preferred  share of Class A shall  provide  to its holder an
       equal scope of rights.

       10.2.  The  holders  of  preferred  shares  of the  Company  shall not be
       entitled to vote at a General Shareholders' Meeting unless the applicable
       laws of the Russian Federation and this Charter provide for otherwise.

       10.3.  The  holders of  preferred  shares of Class A shall be entitled to
       receive  a  fixed  annual  dividend,   unless  this  Charter   stipulates
       otherwise. The total amount payable as a dividend on each preferred share
       of Class A shall be  established as 10 (ten) percent of the Company's net
       profits upon results of the last financial year, divided by the number of
       shares  constituting  25 (twenty five) percent of the Charter  Capital of
       the Company.  Herewith, if the amount of dividends payable by the Company
       on each  ordinary  share in a given year  exceeds  the amount  payable as
       dividend  on each  preferred  share of Class A, the  amount of the latter
       dividend may be  increased  up to the amount of the  dividend  payable on
       ordinary shares.

       10.4. Each holder of a preferred share of Class A shall be entitled:

       10.4.1.  to sell and  otherwise  dispose of the  shares  held at any time
       without a prior  agreement with the other  shareholders  or approval from
       the bodies of the Company;

       10.4.2. to participate in a General  Shareholders' Meeting with the right
       to vote on issues  relating  to  reorganization  and  liquidation  of the
       Company;

       10.4.3.  the holders of preferred  shares of Class A are entitled to vote
       at the meetings of  shareholders in cases when the adoption of amendments
       or additions to this Charter shall involve  restriction  of rights of the
       holders of preferred shares,  including  establishment or increase of the
       amount  of  the  dividend  and  (or)  establishment  or  increase  of the
       liquidation  quota payable on preferred  shares of the previous  order of
       priority,  or in the case of providing to the holders of preferred shares
       of other  types of  privileges  in respect of the order of  priority  for
       paying the dividend and (or) liquidation value of the shares.

       The  holders of  preferred  shares of Class A, the amount of  dividend on
       which is established in this Charter, shall be entitled to participate in
       a General  Shareholders'  Meeting with the right to vote on all issues on
       the  meeting's  agenda,  starting  from the meeting  following  an annual
       General  Shareholders'  Meeting,  which  has  decided  not to pay out the
       dividends  or has  decided  to pay out  only a part of the  dividends  on
       preferred  shares of Class A. The right of holders of preferred shares of
       Class A to  participate  in a  General  Shareholders'  Meeting  shall  be
       terminated  as of the moment  the  dividends  on such  shares are paid in
       full;

       10.4.4. in the event of the Company's  liquidation,  to receive a part of
       the  property  or the  value of a part of the  property  remaining  after
       settlements  with  the  Company's  creditors.   Herewith,   the  property
       remaining after the creditors' claims have been satisfied,  shall be used
       to effectuate payments through the following procedure:

       -     available  unpaid dividends on preferred shares of Class A shall be
       paid out;

<PAGE>


       -     holders of  preferred  shares of Class A shall be paid the  nominal
       value of the shares they hold;

       -     the remaining  property shall be  distributed  among the holders of
       preferred shares of Class A and of ordinary shares in proportion to their
       shareholdings  in the total  number of the shares  placed by the Company,
       adjusted for the value of the  preferred  shares of Class A  (liquidation
       value of preferred shares of Class A) paid out earlier;

       10.4.5.  to  receive  from  the  Company's  Registrar  extracts  from the
       shareholders   register  and  other  information  through  the  procedure
       stipulated  for the holders of  ordinary  shares of the Company in Clause
       9.2.5. hereof;

       10.4.6.  to receive  information  contained  in the  Company's  documents
       listed in Clause 9.2.6. hereof,  through the procedure stipulated by this
       Charter for the holders of ordinary shares of the Company;

       10.4.7. to exercise rights specified in Clauses 9.2.1.,  9.2.7.,  9.2.8.,
       9.2.9. hereof, in accordance with the applicable laws and this Charter.

Dividends on Shares of this Category (Class):
Period: 1999
Dividends Accrued per Share (rub): 0.8093
Total  Amount of  Dividends Accrued  to Shares  of this  Category (Class) (rub):
188 856 872.19
Total  Amount  of  Dividends Paid  to Shares of this   Category  (Class)  (rub):
187 517 984.88

Period: 2000
Dividends Accrued per Share (rub): 0.4243
Total  Amount of Dividends Accrued  to Shares  of this  Category (Class)  (rub):
103 033 392.3
Total  Amount  of  Dividends Paid  to Shares of this   Category  (Class)  (rub):
101 853 521.77

Period: 2001
Dividends Accrued per Share (rub): 0.919524
Total  Amount of Dividends Accrued  to Shares  of this  Category (Class)  (rub):
223 289 290.85
Total  Amount  of  Dividends Paid  to Shares of this   Category  (Class)  (rub):
203 872 481.28

Amount of Dividends Accrued per Share of this Category (Class) with Due Date Yet
to Come (rub): 0

58.2

Category of Shares: ordinary
Form of Shares: registered non-documentary
Full Name of Category/ Class of Authorized Shares: ordinary
Holder's Rights for Shares of this Category (Class):

       9.1.  Each  ordinary  share of the Company shall provide to its holder an
       equal scope of rights.

       9.2. Each holder of ordinary shares of the Company shall be entitled:

       9.2.1.  to sell and  otherwise  dispose  of the  shares  held at any time
       without a prior agreement other  shareholders or approval from the bodies
       of the Company;

       9.2.2. to participate in a General  Shareholders'  Meeting with the right
       to vote on all  issues  within  its  competence.  In the  event  that the
       shareholder  has acquired the  ownership of the shares after the approval
       by the  Board  of  Directors  of the  list of  shareholders  entitled  to
       participate in the General  Shareholders'  Meeting, the shareholder shall
       be entitled to

<PAGE>

       participate  in the  meeting  only on the  basis of a power  of  attorney
       issued by the former holder of the shares;

       9.2.3. to receive dividends if such are declared and paid out through the
       procedure stipulated by this Charter;

       9.2.4.  to receive a part of the  property  or the value of a part of the
       Company's property remaining during the Company's liquidation,  after the
       settlements  with  creditors,  in  proportion  to the shares  held by the
       shareholder,  through the  procedure  and in the order  stipulated by the
       applicable laws of the Russian Federation and this Charter;

       9.2.5. to receive from the Company's registrar extracts form the
       shareholders register certified with the registrar's seal, to receive
       information on its personal account as well as other information provided
       for by the legal acts of the Russian Federation, in the form, on the
       conditions, through the procedure and within the term established in the
       Regulations on Maintaining the Shareholders' Register approved by the
       Company's registrar within its authority;

       9.2.6. to obtain information  contained in this Charter,  the Certificate
       of State  Registration  of the Company and other Company  documents other
       than documents containing state or commercial secrets;

       9.2.7.  in  cases  provided  for by the  applicable  laws of the  Russian
       Federation,  to defend,  through legal  procedures,  its infringed  civil
       rights and demand recovery for damages suffered from the Company;

       9.2.8.  to  require  from the  Company a buy-out  of all or a part of the
       holder's  shares,  in cases and through the  procedure  stipulated by the
       applicable laws of the Russian Federation;

       9.2.9.  to sell  shares  to the  Company  in the event  that the  Company
       decides to buy-out such shares;

       9.2.10.  to require  from the Company an extract from the list of persons
       entitled  to  participate  in the  general  meeting of the  shareholders,
       containing information on the shareholder.

       A shareholder has to pay for the services related to the provision of the
       required  documents  in  accordance  with the price list  approved by the
       Management Board of the Company.  Herewith,  the prices for such services
       shall not exceed the cost of making  copies of the  documents and sending
       the documents by mail.

       9.3. A shareholder or a group of shareholders holding, in aggregate,  not
       less than 2 (two)  percent of the ordinary  shares of the total number of
       the  placed  voting  ordinary  shares of the  Company,  as of the date of
       proposing issues to the agenda, are entitled to introduce issues into the
       agenda  for the  annual  shareholders  meeting,  as  well  as to  propose
       candidates  to the  Board of  Directors,  the  Audit  Commission  and the
       counting  commission  of the Company for the  election,  at the annual or
       extraordinary General Shareholders'  Meeting,  through the procedure,  on
       conditions and within the term established by this Charter.

       9.4. A shareholder or a group of shareholders holding, in aggregate,  not
       less than 10 (ten) percent of the ordinary  shares of the total number of
       the placed voting ordinary shares of the Company, is entitled:

       -   to  require  the  convening  of  and,  in  cases  stipulated  by  the
       applicable laws of the Russian  Federation,  to convene an  extraordinary
       General Shareholders' Meeting of the Company;

<PAGE>

       -   to  require  the  revision  (audit)  of the  financial  and  business
       activities of the Company.

       9.6. In the event of  placement by the Company of  additional  shares and
       the issuance of securities  that are convertible  into shares,  which are
       placed through public subscription, the Company's shareholders shall have
       the preemptive  rights to acquire such shares to the extent  proportional
       to their shareholdings of the respective category (class), which shall be
       exercised in accordance with the procedure established under federal law.

       9.7 The  Company's  shareholders  shall  have the  right of access to the
       documents  provided for under  Section 35.1 of this Charter in the manner
       determined under Article 91 of the Federal Law "On Joint Stock Companies"
       and Article 35 of this Charter.

Dividends on Shares of this Category (Class):
Period: 1999
Dividends Accrued per Share (rub): 0.1645
Total  Amount  of Dividends  Accrued to  Shares of  this Category (Class) (rub):
115 195 425.2
Total  Amount  of  Dividends  Paid to  Shares of  this  Category  (Class) (rub):
114 176 449.68

Period: 2000
Dividends Accrued per Share (rub): 0.1634
Total  Amount  of Dividends  Accrued to  Shares of  this Category (Class) (rub):
119 068 978.69
Total  Amount  of  Dividends  Paid to  Shares of  this  Category  (Class) (rub):
117 827 766.31

Period: 2001
Dividends Accrued per Share (rub): 0.214496
Total  Amount  of Dividends  Accrued to  Shares of  this Category (Class) (rub):
156 302 518.72
Total  Amount  of  Dividends  Paid to  Shares of  this  Category  (Class) (rub):
152 165 285.56

Amount of Dividends Accrued per Share of this Category (Class) with Due Date Yet
to Come (rub): 0

61.    Limitations on the Circulation of Securities

       See paragraphs 56 and 57

62.    Other Material Information on the Issuer's Securities

       No information