RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of November 5, 2005 No. 7604

About further development of cellular communication in the territory of Turkmenistan

For the purpose of further enhancement of telecommunication infrastructure of the country I decide:

1. To the Ministry of Communications of Turkmenistan to sign the contract with the "Barash Kommyunikeyshn Teknolodzhiz, INK." corporation (the State of Texas, the USA) which is subsidiary company of Mobile TeleSystems open joint stock company (Russian Federation) for provision of services of cellular communication in the territory of Turkmenistan for a period of 5 years in a month.

2. Determine that:

profit distribution in national currency of Turkmenistan from activities of "Barash Kommyunikeyshn Teknolodzhiz, INK." corporation (the State of Texas, the USA) in the market of cellular communication of Turkmenistan is performed in the following proportion:

"Barash Kommyunikeyshn Teknolodzhiz, INK." corporations (the State of Texas, the USA) - 80 percent,

To the Ministry of Communications of Turkmenistan - 20 percent;

return of the main part loan and the borrowing facilities used for investment financing of Mobile TeleSystems open joint stock company (Russian Federation) in development of network of cellular communication of Turkmenistan is performed at the expense of profit share of the "Barash Kommyunikeyshn Teknolodzhiz, INK." corporation (the State of Texas, the USA) determined in this Item.

3. Permit the State commodity and raw exchange of Turkmenistan to implement "Barash Kommyunikeyshn Teknolodzhiz, INK." corporations (the State of Texas, the USA) at the expense of the manatny means remaining after payment of profit share to the Ministry of Communications of Turkmenistan according to Item 2 of this resolution, goods for the purpose of their further export.

4. On foreign investments in case of the President of Turkmenistan and the State commodity and raw exchange of Turkmenistan to provide to public service registration in accordance with the established procedure of the contract between the Ministry of Communications of Turkmenistan and "Barash Kommyunikeyshn Teknolodzhiz, INK." corporation (the State of Texas, the USA).

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