OREANDA-NEWS. On 04 July 2008 was announced, that Sibirtelecom OJSC (RTS: ENCO/ENCOP, ENCOG/ENCOPG; MICEX: STKM/STKMP; ADR: ОТС - SBTLY, Frankfurt and Berlin Stock Exchanges – ISIN: US8257351036, WKN: 260452) – operator of telecommunication services in Siberian Federal District – provides its audited consolidated financial statements for the 2007 that were made in compliance with international financial reporting standards (IFRS). Audit of financial statements for 2007 is performed by KPMG CJSC.

The consolidated financial statements include assets, liabilities and results of activity of Sibirtelecom OJSC and its subsidiary companies (hereinafter – the Company).

For the first time the Company obtained unqualified audit report as to consolidated financial statements in accordance with IFRS requirements.

In the issue of assessment of the fair value of specific categories of fixed assets by an independent auditor, the auditor’s clause concerning the book cost of the indicated assets was excluded.  In 2006, the clause in relation to reflecting liabilities of pension provision and other remunerations to the staff was excluded.