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    RUSSIA * ROSTELECOM * RATING

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    S&P UPGRADES ROSTELECOM Co. FOR CORPORATE MANAGEMENT MOSCOW, JANUARY 28, RIA NOVOSTI - Rostelecom Co. excels in corporate management. The Standard & Poor's independent rating agency, also known as the S&P, has deservedly rated it 6.4, the agency says in a press release.

    The Rostelecom is spectacularly superior for corporate management to many Russian-based wire communication operators, says Yulia Kochetygova, S&P service manager for corporate management rating, as quoted in the release.

    Miss Kochetygova also highlights bad and numerous drawbacks in Rostelecom managerial work. She blames them on state regulation carried too far in Russia, and on Svyazinvest Co., Rostelecom biggest stockholder. Last but not least, minor holders and independent members of the Rostelecom directors' board ought to have a greater influence on the company than what they have now, she remarked.

    The S&P fully appreciates high Rostelecom standards of financial transparency and information supply, though certain transactions could be more open than they are, points out the agency.

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