Company development milestones:

2009 Successful completion of the integration of Simbirsky Telecommunication Systems

2008 Raising of GBP 5.0 (USD 9.8 mln) via a pro rata offer of 20 mln new ordinary shares to existing shareholders

Acquisition of 51 per cent of OOO Simbirsky Telecommunication Systems in Ulyanovsk, the capital of the Ulyanovsk Region of Russia

Successful completion of the integration of the telecom operator in Naberezhnye Chelny, acquired in 2007

2007 US$14.7m investment by Templeton Strategic Emerging Markets Fund II, the Black Sea Trade and Development Bank, Deutsche Bank

Receipt of a licence for zonal trafffic routing

Cable TV service launching

Acquisition of a telecom business in Naberezhnye Chelny

The second 20 mln loan from the Black Sea Trade and Development Bank (7-year loan, coupon 2.5 per cent over LIBOR)

2006 Acquisition of TNPKO in Kazan

Admission to AIM

2005 Construction of a single fiber-optic ring covering all districts of Kazan

2004 The first USD 10 mln loan from the Black Sea Trade and Developemnt Bank

2002 Commencement of VoIP services provision

2001 Commencement of xDSL services provision

2000 Commencement of dial-up internet services provision

1998 Launching of Teleset network and provision of telephone services to residents

1996 Incorporation of Teleset LLC, securing licences for provision of telephone services

Teleset Networks PCL, 2010