OREANDA-NEWS. On 16 June 2008 Southern Telecommunications Company (“UTK”), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reported that today the Company paid out in full the tenth coupon income on the UTK 04-series non-convertible interest-bearing  documentary pay-to-bearer bonds (UTK-04оb., RU000A0GK2W9).

The tenth coupon interest rate was set according to the Decision on the Bond Issue approved by the Company’s Board of Directors (Minutes N 11 dated 18 October 2005) at 10.0% per annum. Total amount of the tenth coupon yield payable under all UTK series 04 bonds made 81,050,000 rubles. The tenth coupon income on one bond of the issue amounted to 16.21 rubles.

At the same time the Company redeemed in full the fourth part (15 percent) of the nominal value of UTK series 04 bonds to the amount of 750,000,000 rubles.

The record date of the register of the holders of UTK series 04 bonds entitled to receive the coupon income was June 4, 2008.