Quarterly report

Data on the amount of accounts receivable

Information on the structure of the accounts receivable of the Issuer with the indication of the time of obligations execution:

As of September 30, 2007

Type of accounts receivable	Period in which the debt arises
	within 1 year		more than 1 year
Accounts receivable from buyers and customers, RUR ths		1,318,219	580
Including overdue, RUR ths		399,792	х
notes receivable, RUR ths		0	х
Including overdue, RUR ths		х	х
debts of participants (founders) by contributions to the authorized capital, RUR ths		0	х
Including overdue, RUR ths		х	х
advances distributed, RUR ths		146,187	х
Including overdue, RUR ths		24,971	х
Other debtors, RUR ths		418,421	4,628
Including overdue, RUR ths		168,577	х
Receivables, total, RUR ths		1,882,826	5,208
Including overdue, RUR ths		593,340	х

Information on debtors for which account no less than 10 percent of the total debts as of 30 June 2007:

There are no such debtors.

Receivables from social organizations for tariff compensation of expenses connected with providing telecom services to privileged customers amounted to 71,146.4 thousand rubles as of 30 June 2007.

Pursuant to Federal Law №122-FZ of 22.08.2004 effective since 1 January 2005, privileges related to provision of telecom services shall be granted in monetary but not natural form for the privileged customers, except for customers having privileges according to Federal Laws “On social guarantees of Heroes of Socialist Work and Knights of Labour Glory Awards” and “On status of Heroes of the Soviet Union, Heroes of the Russian Federation and Knights of Labour Glory Awards”. As a result, Article 47 of Federal Law № 126-FZ of 07.07.2003 has come into force not for all categories of privileged customers. Besides, subjects of the Russian Federation are entitled to take decisions on granting privileges in accordance with the laws and decrees of the subjects of the Russian Federation. The proposed volume of privileges granted in 2006 is insignificant.

In 2006 state budgets do not include funds for recovery of the remaining debts of social organizations for tariff compensation of expenses connected with providing telecom services to privileged customers during the previous periods.

7. The Issuer’s Accounts and Reports and Other Financial Information

1. The Issuer’s Annual accounts and reports

Annual accounting reports of the Issuer are not to be included in the quarterly report for the third quarter.
7.2. Issuer’s Quarterly Accounts and Reports for the Last Completed Quarter under Report

a) In accordance with the Russian Federation legislation requirements the Issuer’s quarterly accounting statements comprise the following documents:

- Balance sheet (form № 1 by OKUD),

- Profit and Losses statement (form № 2 by OKUD),

3Q2007 Financial statements (Forms № 1 and № 2) are attached in Annex № 1.

b) The Issuer is not obliged to prepare quarterly financial statements in accordance with

International Standards of Financial Reporting or Generally Accepted Accounting Principles U.S. (it is not fixed in constituent documents and adopted accounting policy).

3. Issuer’s Consolidated Accounts for the Last Completed Fiscal Year

Consolidated financial statements are not to be included in the quarterly report for the third quarter.

3. Data on the Accounting Policy of the Issuer

As of 30 September 2007 there were no material changes in the Company’s accounting policy.

3. Data on the Total Amount of Exports and on the Share of Exports in the Total Volumes of Sales

The Issuer does not export any services

3. Value of Issuer’s Immovable property and Data on Essential Changes that Have Taken Place in the Composition of Issuer’s Property after the Date of Expiry of the Last Completed Fiscal Year

Description	30.09.2007
Total value of immovables, RUR	15,067,220,669
Depreciation charges, RUR	4,100,013,122

Information about the estimation of immovable property.

During 12 months before the date of the end of the quarter under report, there was no valuation of immovables owned or leased by the Issuer on a long-term basis.

Data on any material changes that have taken place in the composition of Issuer’s immovable property as well as on any acquisitions or retirement of any other property of the Issuer, if the balance sheet value of such property exceeds 5% of the balance sheet value of the Issuer’s assets, and data on any other material changes that have taken place in the composition of Issuer’s property after the date of expiry of the last completed fiscal year till the expiry date of the quarter under report

There have been no material changes.