Vladimir Rybakin Genreal Director December 2002

1. Prospects and objectives Vladimir Rybakin Genreal Director December 2002

2. Moscow Consolidated company of Urals region Territory1949,5 thous. sq. km Population15 443,9 thosand Natural resources65% of Russian oil, 90% of gas, gold, diamonds Industrial output in 2001USD37,4 bln.(18,5% of industrial output of RF) Average annual USD rate of exchange as of 2001 - RUR29,2 • September 30, 2002 highlights the completion of merger of Urals region telecoms and • JSC Uralsvyazinform • Perm region • Sverdlovsk region • Chelyabinsk region • Kurgan region • Tyumen region • Khanty-Mansi Autonomous District • Yamalo-Nenetski Autonomous District • As of September 1, 2002 • Lines – 3,167mln • Subscribers – 2,931mln • Emloyees– 35.7thous. Kara Sea Yamal Khanty-Mansyisk Perm Ekaterinburg Tyumen Chelyabinsk Kurgan Kazakhstan

3. Merger completion schedule • Joint Shareholders Meeting (December 17, 2002); • Registration of changes to Articles of Association (January 2003); • Disclosure of consolidated financial report under Russian accounting standards (April 2003); • Auditor’s opinion under Russian and international accounting standards (June 2003).

4. Mission Shaping and meeting customers’ needs in telecommunication and information services, integration into the Global Information Community of 21st century

5. Shareholder’s equityas of December 1, 2002 Book CapitalUSD151 mln Number of shares40 134 723 306 Share of preferred stock19,5% Number of stockholders23 379 Market capitalizationUSD460 mln Federal Property Fund 4,64% (5,76% of voting shares) ADR 4,03% (3,91% of voting shares) Svyazinvest 41,38% (51,42% of voting shares) Individual shareholders 49,95% USD Rate of exchange –RUR31,84 (38,91% of voting shares)

6. Market position of consolidated Uralsvyazinformin Urals region

7. Installed capacity by regional branchesas of 01.01.2002 • Overall capacity: • Installed – 3 112 thous. lines • Equipped – 2 817 thous. lines

8. Digitalizationas of December 1, 2002

9. Fixed-line penetration(lines per 100 inhabitants) • Total: • Urban – 21,66 • Rural – 10,24 Waiting list (as of december 1, 2002) – 581 645 95 387 209 722 129 108 58 059 49 288 7 399 32 682

10. Overall CAPEX

11. Investment Sources

12. Investment Priorities • Capacity extension and network upgrade: • digital switches; • optical access netwoks; • intrazone digital transport networks; • wireless loop; • Mobile telephony of GSM-900/1800 standard; • Packet switching network: • multiservice network build-up; • Internet; • Intelligent network; • Cable TV.

13. Capital investment schedule

14. Domestic and international long-distance traffic

15. Financial results

16. Revenue structure

17. Expenditure structure

18. EBITDA and Net Profit

19. Debt USD exchange rate as of 01.01.02 -RUR30,14 ; 01.01.03 -RUR32,86; 01.01.04 -RUR33,54; 01.01.05 -RUR37,06; 01.01.06 -RUR37,34

20. Numberof lines per 1 employee

21. Digitalization

22. Wire-line penetration(telephones per 100 inhabitants) • Waiting list as of January 1, 2002 – 581645 • Number oflocations not covered with wire-line services– 2 916 • Including those with population under 50 – 1 760

23. Time-based billing • TBB is introduced in: • Perm region - 87,5% of installed capacity • Tyumen region - 75,0% of installed capacity • TBB introduction plan for 2002 - 2003 • Sverdlovsk region • Chelyabinsk region • Kurgan region • Khanty-Mansyisky autonomous district • Yamalo-Nenetski autonomous district

24. Multi-Service Network General Structure

25. Optical access network build-up

26. Local hub configuration

27. Salekhard Khanty-Mansyisk Perm Ekaterinburg Tyumen Existing lines Chelyabinsk Kurgan Planned lines Digital transport network development

28. Salekhard Khanty-Mansyisk Perm Екатеринбург Ekaterinburg Tyumen Kurgan Chelyabinsk GSM-900/1800 Network As of 01.12.2002

29. GSM900/1800 Network Development

30. Salekhard Khanty-Mansyisk Perm Екатеринбург Ekaterinburg Tyumen Kurgan Chelyabinsk NMT – 450 Networkas of01.12.2002 Prospects – transition to digital standard

31. PSTN PSTN PSTN PSTN PSTN PSTN Intelligent Network setup in Urals Region Max. Virtual network capacity is 12 mln. numbers Services Uralsvyazinform • Freephone; • Premium access; • Account card access; • Pre-paid card access; • Televote; • Pre-paid access to Internet; • Pre-paid access to mobile network; • Personal number service; • Virtual private networks. Perm SMP Toll Exchange SSP SCP INAP - R INAP - R INAP - R INAP - R INAP - R INAP - R SSP Toll Exch. SSP Toll Exch. SSP Toll Exch. SSP Toll Exch. SSP Toll Exch. SSP Toll Exch. Khanty-Mansiysk Ekaterinburg Tumen Chelyabinsk Kurgan Yamal

32. Market capitalization of Uralsvyazinform

33. Investor Relations • Shares are traded at: • RTS, MICEX • Berlin, Frankfurt Stock Exchange • USA Over-the-counter market • IAS accounting since 1995 • Annual international audit since 1995 • Level 1 ADR Program • Fitch credit rating at “B” • Standard & Poor’s credit rating at “B-” • Corporate governance score of Standard & Poor’s at «6,0» • Prospects • Additional share issuance • Level 3 ADR program

34. 2003 Objectives • Relationship Agreement between regional authorities and Uralsvyazinform • Streamlinig the budgeting process and investment planning; • Implementation of ISO 9000 quality standards; • Realization of “Electronic Russia” fedreal project • Introduction of new services; • Implementation of time-bases billing; • Optimization of management structure and personnel quantity

35. Uralsvyazinform has a solid potential to accomplish the national objective to develop up-to-date telecommunications infrastructure within Urals federal district

36. Contacts: ph.: +7 3422 341 200 fax: +7 3422 343 336 e-mail: investor@usi.ru www.uralsviazinform.ru www.uralsviazinform.com Ticker symbols: Russian Trading System - URSI ADR - UVYZY