OREANDA-NEWS. On July 09, 2008 Uralsvyazinform (RTS: URSI/URSIP) the leading carrier of fixed-line and mobile services in the Urals region, Russia presented the audited consolidated financial statements for the year ended December 31, 2007 prepared under International Financial Reporting Standards (IFRS). The financial statements were audited by OOO “Ernst and Young”, reported the press-centre of Uralsvyazinform.

Revenue increased by 22,4% as compared to 2006 and amounted to USD 1,5 bln. Revenue gains in mobile services, new services and intra-zone services were the main growth drivers.

Revenue from mobile services totaled USD 487,1 mln. (+30,3% on 2006). The segment contributed 31,9% of overall revenues.

Revenues from new services (Internet and data transmission) amounted to USD 136,8 mln (+44,9%). The segment contributed 8,9% of overall revenues.

Operating expenses in 2007 increased by 15,9% and totaled USD 1,293.8 mln., mainly due to the growth in interconnection charges (+53,9%), agency fees (+63,5%), and depreciation and amortization (+23,5%). Wages and salaries expense decreased by 2,7% as a result of staff reduction and structural developments.

Operating profit amounted to USD  235,3 mln (+77,9% on 2006). OIBDA increased by 44,8%. OIBDA margin increased from 27,1% to 32,0%. Net profit as of 2007 totaled US\\\\$ 89,7 mln, being x3,2 increase on 2006.

You can also participate in the conference call (webcast) dedicated to Uralsvyazinform 2007 financial results under IFRS.

The senior management of Uralsvyazinform would like to invite you to take part in a conference call and webcast on Thursday, July 10, 2008. Executives at Uralsvyazinform will give a conference call on Uralsvyazinform 2007 year-end IFRS results followed by Questions and Answers session at 3.00 p.m. Moscow time (12.00 a.m. London time). The management team will be represented by Valery Chernyshev, Deputy General Director and CFO. To view participation details please scroll down to the end of document.

The conference will be held in Russian.

Dial-in number to access the conference call is as follows:

+44 (0)20 7806 1953 (UK Toll)

+7 (495) 789 8156 (Russia Toll)

Please, quote Confirmation code: 9445841

For additional information, please contact IR department on tel. +7 343 379 1219, +7 343 379 1859 or e-mail: investor@gd.usi.ru.

The most recent company information is also available from this website and www.skrin.ru (complex disclosure information system) or URSI_RU page in Bloomberg system and URSI.RTS page in Reuters system.