Krasnodar, 21 November 2006:  Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reports that today its top management met in the Krasnodar central office with the representatives of investment financial company “Metropol”.

The Management of "Southern Telecommunications Company" PJSC made a presentation of the Company’s performance results and strategy, discussed the Company’s business including development of new value-added services. The Management holds such meetings on a regular basis thus contributing to improvements in the Company’s communications with the investment community, enhancement of the business profile and appreciation of its share capital.

IFC “?etropol” is a member of Russian-British and Russian-American Chamber of Commerce, National Stock Association, Investor Protection Association. National Association of stock market participants assigned to it a very high reliability rating of AA+ with a positive outlook.

"UTK" PJSC is always open to new contacts and ready to meet with shareholders and investors. We would be glad to receive your proposal on holding a meeting to discuss performance results and development prospects of the Company. Please, contact IR Team of "UTK" PJSC.