Quarterly report

Data on the Issuer's Appraiser

1) Full name: “Valuation and Business Development Agency” Company with Limited Liability

Abbreviated name “Valuation and Business Development Agency” LLC

Location: 1, Krasnoarmeiskaya Str., Krasnodar, 350063

TIN: 23080867801

Postal address: 1, Krasnoarmeiskaya Str., Krasnodar, 350063

Tel., fax: [phone]

E-mail: [e-mail]

Services rendered by the Appraiser:

The company appraised the market value of the object for purchase and sale purposes as well as the market value of 20%- stakes of "Kabardino-Balkarian GSM" CJSC and “Karachaevo-CherkesskTeleSot” CJSC’s shares.

2) Full name: “Institute of Strategic Projects and Innovations” Company with Limited Liability

Abbreviated name “ISPI” LLC

Location: 14, Presnenskiy Val, 6^th floor, Moscow, 125502

TIN: 7707578180

Postal address: 14, Presnenskiy Val, 6^th floor, Moscow, 125502

Tel., fax: [phone]

E-mail: [e-mail]

Services rendered by the Appraiser:

The company appraised the market value of the object for purchase and sale purposes.

1.5. Data on the Issuer’s Consultants

Full name: Closed joint-stock company Commercial Bank “Russian Industrial Bank”

Abbreviated name CJSC “Russian Industrial Bank”

Place of business: 40, Schepkin Str., building 1, Moscow, 129110, Russia

TIN: 7744001240

Telephone: [phone]

Fax: [phone]

Internet site: www.rusind.ru

Licenses:

License of a professional participant of the securities market for dealership:

No of the License: 177-03302-010000

Date of issue: November 29, 2000

Period: unlimited

Authority issuing the license: Federal Commission for Securities Market of Russia
License of a professional participant of the securities market for brokerage:

No of the license: 177-03210-100000

Date of issue: November 29, 2000

Period: unlimited

Authority issuing the license: Federal Commission for Securities Market of Russia
Services provided by the consultant:

Services under the Service Agreement № 18-02-07 of February 12, 2007 between "UTK" PJSC and CJCS “Russian Industrial Bank” in respect to the fifth bond issue.

1.6. Data on Other Parties Who Have Signed the Quarterly Report

Only the officials of the Issuer have signed quarterly report for the accounting period.

II. Key Information on the Financial and Economic Position of the Issuer

2.1. Indices of Issuer’s Financial and Economic Performance

Key financial highlights:

Index	Calculation procedure	3Q2007	3Q2006
Net assets, RUR	According to the order established by the Ministry of Finance of the Russian Federation and the Federal commission for joint-stock companies	15,335,928	14,158,312
Borrowed funds to the capital and reserves ratio, %	(Long-term liabilities as at the end of the accounting period + Short-term liabilities as at the end of the accounting period) / Capital and reserves as at the end of the accounting period х 100	176.17	200.20
Short-term liabilities to the capital and reserves ratio, %	Short-term liabilities as at the end of the accounting period / Capital and reserves as at the end of the accounting period х 100	91.7	77.78
Coverage of debt service, %	(Net profit for the accounting period + depreciation charges for the accounting period) / (liabilities subject to repayment in the accounting period +Interest payable in the accounting period) *100	27.87	12.05
Overdue debt level	Overdue debt as at the end of the accounting period / (Long-term liabilities as at the end of the accounting period + Short-term liabilities as at the end of the accounting period) х 100	0	2.91
Turnover rate of accounts receivable, times	Revenue from sale of goods, products, works, services less value added tax, excises and similar taxes and obligatory payments / (accounts receivable as at the end of the accounting period – debts of participants (founders) under contributions in the charter capital as at the end of the accounting period	9.5	8.83
Portion of dividends in profits, %	(Ordinary dividend based on the results of the completed fiscal year) / (Net profit of the completed fiscal year – preferred dividend of the completed fiscal year) х 100	23.25	-
Labor productivity, RUR per employee	(Revenue) / (Average number of employees (workers) on payroll	509,410.18	369,315.30
Depreciation charges to revenues ratio, %	(Depreciation charges) / (Revenue) х 100	14.63	15.10