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Scheduled meeting of Mastertel shareholders took place.


05/26/2003


A scheduled meeting of Mastertel shareholders took place, during which Mastertels future development prospects were discussed, among them were the following topics:

- - more emphasis to be put on the providing of Internet access as well as on entry into the operator-market of Internet-traffic exchange. At the present moment the building of Mastertels network connection node at MMTC-9 is coming to an end. This node is equipped with hardware from CISCO SYSTEMS and, initially, will allow a capacity of up to 5 Terabytes of Internet-traffic to be processed monthly.

- entry into the operator-market of IP-Telephone traffic exchange. At the present moment the modern hardware Soft switch (made by the worlds leading manufacturers) is being analyzed. We are currently planning to develop this line within the framework of a new independent company, the trademark of which is at the preparatory stage.

- development of a new project, the production of multi-functional pre-paid cards. For this, we are planning to create an independent company, Joint Stock Company Universal Card Technologies'.



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