OREANDA-NEWS. The Company’s investment program in the Development Forecast for 2007 – 2009 provides for limited investments in projects with qualitative return and in social projects, completion of earlier launched investment projects given their viability and effectiveness, making new investments in high-yield projects and projects with short payback period, namely, promotion of information and telecommunication services based on new technologies such as Internet, xDSL, IP-TV.

The projected volumes of the Company’s investment programs are 3 billion rubles in 2007, 2.5 billion rubles in 2008 and 3.5 billion rubles in 2009. The planned growth of investments in 2009 is based on the expected improvements in the Company’s financial standing and on the need to make new investments in order to retain the Company’s market positions.