News article

OJSC MTT, an international and domestic long-distance telecommunications operator in the Russian Federation announces sale of its 66% share in WaveCrest Group Enterprises Limited, the British operator, to MARR T&T, the second shareholder of this company.

A sum of the transaction finalized on 11th March, 2009 is not disclosed.

MTT originally acquired a stake in WaveCrest Group Enterprises Limited at the end of 2006 from AFK Sistema.

OJSC Multiregional TransitTelecom (MTT) is a national long-distance and international telecommunication operator. The company was set up in 1994 with a mission to establish co-operation between communication operators. MTT offers telecom services and provides efficient co-operation organization to more than 300 mobile operators and 100 PSTN operators in Russia as well as their co-operation with 50 foreign operators, signaling co-operation – with more than 300 operators. In 2005 the company obtained Rossvyaznadzor (the Federal Service for Communication Supervision) License No32042 for long-distance and international communication services to end-users in the entire Russia. The services are based on the nationwide multiservice network with its presence in every Russian region.