The results are summed up in the contest for an independent auditor for required auditing of accounts and reporting of North-West Telecom Open Joint-Stock Company for 2007, to comply with the Russian and international accounting standards.

The contest board for selection of an independent auditor for NWT, including six members of the Company’s Board of Directors, reviewed the contestants’ technical and financial proposals and announced Ernst & Young LLC, an independent auditor, as the contest winner.

The contest results will be presented to the Board of Directors of North-West Telecom, which is to nominate an auditor for approval by the annual General Meeting of Shareholders. The contract with the contest winner will be signed provided that the annual General Meeting of Shareholders approves it as the Company’s Auditor.

Brief information on Ernst & Young LLC

Ernst & Young is a leading international company providing auditing and consulting services in more than 140 countries. It is the leader in professional services in the high technologies, communications, and entertainment sectors, servicing 80% of the 25 largest international telecommunication companies.

Ernst & Young has been pursuing its business in Russia since 1989, providing services to more than 1000 leading national and international companies in several sectors of economy: finance, oil and gas sector, communications, retailing, trade, light industry, automobile industry, industrial production, transport sector, etc.

Ernst & Young LLC has an auditing license approved by Order No. 223 of the Russian Federation Ministry of Finance dated September 30, 2002 and issued for five years. Currently, Ernst & Young is providing services to North-West Telecom in its fiscal year 2006 financial accounts auditing.