OREANDA-NEWS. On 28 July 2008 CenterTelecom gave notice of a change in the ratio of ADRs issued on the company’s common shares from 1:100 to 1:25.

In accordance with amendments made to form F-6 registered by the US Securities and Exchange Commission (SEC) on June 3, 2008 and also amendments to the Deposit Agreement between CenterTelecom, JPMorgan Chase Bank, N.A. and the holders of American Depository Receipts (ADR), there will be a change in the ratio between one ADR and the common shares of CenterTelecom, which they represent, from 1:100 to 1:25, i.e. each American depository share approved as an American Depository Receipt will represent 25 common shares in CenterTelecom.

The change in the ratio aims to increase the company’s share liquidity.

Due to the change in the ratio to be carried out by the custody bank JPMorgan Chase Bank, N.A. in association with ING Bank (Eurasia), trading in ADRs on the common shares of CenterTelecom will be suspended from July 24 until August 5, 2008.

Additional information on this issue can be found at http://www.adr.com/jpmorgan/corpactions/CRMUY%2071008.pdf.