Press release: Personnel changes in Race Communications. The Director of Economics and Finance has been appointed.

Alexander Shaposhnikov has been appointed Director of Economics and Finance at Race Communications. The new position appeared in Race due to the significant growth of the company's financial indicators, the new scale of corporate projects and business diversification.

Alexander Shaposhnikov was born in 1969 in Moscow, received higher education at the Plekhanov Moscow Institute of National Economy, completed the MBA program at the Academy of National Economy under the Government of the Russian Federation, as well as the program "Director of Economics and Finance" at the Institute of Business and Business Administration. In the last 4 years, Mr. Shaposhnikov has been in charge of the financial department of the Ochakov Dairy Plant, before that he worked in the metallurgical industry and the construction industry.

Leonid Lopatin, CEO of Race Communications commented on the event:

"The arrival of a professional of such a level as Alexander Shaposhnikov in the IT business is a landmark event. His successful financial management experience in various industries has become the final component that will allow us to get a synergistic effect from the structural and personnel optimization of the company, which was started two years ago. The complexity of our modern projects, their versatile orientation, scale and duration in time require the presence of highly qualified managers in the company's management, their arrival strengthens our position in the market."Alexander Shaposhnikov started working at Race Communications in early May 2004.

Race Communications is a Russian system integrator offering laboratory-tested solutions from leading telecommunications equipment suppliers. Race carries out a full cycle of work: design, delivery, installation, as well as training of specialists and project support. More information about Race Communications can be obtained at www.race.ru

For more information, please contact:
to Nikita Yemets and Elena Mitina, Race-Communication CJSC
(495) 785-0770, 916-RACE (916-7223) and by email pr@race.ru