The legal aspects of the North Western and Southern mergers have been completed.  On October 31, 2002 the following legal entities were delisted from the Unified State Register: 

North Western Region

OJSC Artelecom

OJSC Elektrosvyaz Kaliningrad region

OJSC Murmanskelektrosvyaz

OJSC Elektrosvyaz Rpublic of Karelia

OJSC Novgorodtelecom

OJSC Pskovelektrosvyaz

OJSC Cherepovetselektrosvyaz

OJSC Elektrsovayz Vologa region

Southern Region

OJSC Volgofradelektrosvyaz

OJSC KabbalkTelecom

OJSC Svyazinform Astrakhan region

OJSC Elektrosvyaz Rostov region

OJSC Elektrosvyaz Republic of Kalmykia

OJSC Karachaevo-Cherkesselektrosvyaz

OJSC Sevosetielektrosvyaz

OJSC Elektrosvyaz Republic of Adygeia

OJSC Elektrosvyaz Stavropol krai

All of the above-mentioned companies have become branches of the mega-regional mergers OJSC North Western Telecom and OJSC Southern Telecommunications Company.  The stocks and bonds of the merged entities have been converted into additional stocks and bonds of the mega-regionals, while the assets and staff of these companies have also been merged with the mega-regional companies.

The final stage of the formal merger process will come when the unified operators hold joint shareholders meetings during the first quarter of 2003.