Open Joint Stock Company “Far East Telecommunications Company” (OTC ADR: FEEOY), the leader on the telecommunications market of the Russian Far East, today announces that 4th March, 2005 Company’s Board of Directors approved 17 candidates for the election the Board of Directors members and 5 candidates for the elections the Revision Committee members.

The members’ election to the Board of Directors and to the Revision Committee will be host at the Annual Shareholders Meeting, which will be host in June 2005. The Board of Directors will consider other questions of the Company’s preparing to the Annual Shareholders Meeting at the end of May – beginning of the June 2005. Regarding to the FETEC bylaws the board of directors should consist of 11 members and Revision Committee should consist of 5 members.

Government-controlled FETEC main shareowner OJSC “Svyazinvest”, which has 50.6% of company’s issued ordinary shares, nominated 11 candidates for election to the Board of Directors. They are the following:

1. Mikhail A. Alexeev – assistant of Minister Informational Technology and Telecommunications of Russian Federation. He is not a FETEC shareowner;
2. Sergey A. Bulancha – Head of Telecommunications Department of the Telecommunications Agency of Russian Federation. He is not a FETEC shareowner;
3. Valeriy V. Bulancha – Chief Executive Officer of CJSC “Professional Communications”. He is not a FETEC shareowner.
4. Sergey I. Kuznetsov – the first deputy of CEO OJSC “Svyazinvest”. He is not a FETEC shareowner;
5. Sergey A. Orlov – Executive Officer – Director of Foreign Relations Department OJSC «Svyazinvest». He is not a FETEC shareowner;
6. Igor N. Osipov – Hear Capital Expenditures Department OJSC «Svyazinvest». He is not a FETEC shareowner;
7. Igor V. Pozhidaev – Informational Technology Department Officer of OJSC “Svyazinvest”. He is not a FETEC shareowner;
8. Vitaly A. Slizen – Telecommunications Government Policy in the Communications sphere of Telecommunications Ministry of Russian Federation. He is not a FETEC shareowner;
9. Yuri A. Tabunschikov – Director of Federal State Unitary Enterprise «Radiochastotny Center of the Far East Federal District». He is not a FETEC shareowner;
10. Nadezhda V. Filipova – Executive Director – Human Recourses Officer of OJSC0 «Svyazinvest». She is not a FETEC shareowner;
11. Eugene A. Chechelnitsky – Deputy Director of the Federal Administration of Telecommunications Surveillance. He is not a FETEC shareowner.

Red Hand Investment Ltd., which has 4.07% of company’s issued ordinary shares, for the election to the Board of Directors nominated Igor N. Repin – Deputy Executive Director of Shareholders Right Protection Association and Alexander V. Shevchuk – expert of Shareholders Right Protection Association. They both do not have company’s shares.

Lindsell Enterprises Ltd., Quorum Fund Ltd., Nikitas Brokerage Ltd., Ravenscourt Holdings Limited, Nachas Enterprises Ltd., ABSI Enterprises Ltd. ? Alfa bank Asset Management, which together hold 3,38% of the company’s ordinary shares, for election to the Board of Directors nominated Vladimir V. Dudchenko – Chief Analyst Research Officer of Moscow representative office of NCH Advisors Inc. He is not a FETEC shareowner.

RCL Investments, Inc., holding 2,9399% of the company’s ordinary shares, for election to the Board of Directors nominated Eugene B. Fioletov – Chief Executive Officer of CJSC «Investment Financial Company «Polyarnaya Zvezda» and Mikhail Y. Kobischnov – Macro Economics Advisor of «Diamond Capital Management». He is not a FETEC shareowner.

Kalchuga Ltd. and Kalchuga Management Ltd., which together hold 2,36% of the company’s ordinary shares, for election to the Board of Directors nominated Jean-Louis Tauvy –– Financial Consultant of Western Investment Founds MULTEK (France). He is not a FETEC shareowner.

Lodgen Trading Limited and «Pleada» Ltd., which together hold 2,342% of the company’s ordinary shares, for election to the Board of Directors nominated Mikhail Y. Kobischnov – Macro Economics Advisor of «Diamond Capital Management». He is not a FETEC shareowner.

Only the main company’s shareowner OJSC “Svyazinvest” nominated 5 candidates for election to the Revision Committee. FETEC’s Board of Directors approved following candidates for the election at the Annual Shareholders Meeting:

1. Olga G. Koroleva – Deputy Chief Accountant of OJSC «Svyazinvest». She is not a FETEC shareowner.
2. Tatiana N. Novak – Chief Corporate Governance Officer of OJSC «Svyazinvest». She is not a FETEC shareowner.
3. Vyacheslav Y. Charkovsky – Senior Specialist of Accountant Department of OJSC «Svyazinvest». He is not a FETEC shareowner.
4. Elena V. Kozyreva - Senior Specialist of Economics Planning and Budgeting Department OJSC “Svyazinvest”. She is not a FETEC shareowner.
5. Lyudmila A. Arzhannikova – Senior Specialist of Electrosvyaz Department OJSC «Svyazinvest». She is not a FETEC shareowner.

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tel. +7(4232) 208-500, ext. 1306 or e-mail to: ir@dsv.ru