Host: Masha Eliseeva - Head of Investor Relations, Comstar UTS

Speakers:

Eric Franke - Chief Executive Officer, Comstar UTS
Nikolay Tokarev - Chief Financial Officer, Comstar UTS

To participate in the conference call, please register at: www.sharedvalue.net/comstar-uts/3Q2006

The dial in number to join the conference call will be available upon registration.
You may also contact Shared Value on +44 (0)20 7321 5010 for further details.

Comstar UTS is a leading provider of integrated communications services in Moscow and the Moscow region in terms of revenues and subscribers and also offers communications services in other regions of Russia and the Commonwealth of Independent States. Comstar UTS had 3.6 million subscribers in its traditional segment of the business, 479.2 thousand subscribers in its alternative segment in Moscow and 91.1 thousand subscriber in its alternative segment in the regions at June 30, 2006. Comstar UTS offers voice, data and Internet, pay-TV and various value-added services to corporate, operator and residential subscribers, using its alternative and traditional fixed-line networks. Comstar UTS had consolidated operating revenues of US$ 286.6 million for the second quarter of 2006 and Comstar UTS’ consolidated assets totalled US$ 2.7 billion at June 30, 2006. Comstar UTS ordinary shares are listed on the Moscow Stock Exchange and on the London Stock Exchange under the symbol “CMST”.