Directorate Change

RNS Number:7286T
Teleset Networks PCL
06 May 2008


6 May 2008

                     Teleset Networks Public Company Limited
                          ("Teleset" or the "Company")

                                  Board Change

Yuri Mashintsev, who was appointed to the Board of Directors in April 2007,
subsequent to the investment in Teleset made by Templeton Asset Management
("Templeton"), now no longer works for Templeton Asset Management. Mr Mashintsev
informed the Board that he would be resigning as a director, and the Board
agreed to accept his resignation, effective as of 30 April 2008.

Following the recent pro rata issue to shareholders for which Templeton
subscribed for its full entitlement and for all shares not subscribed for by
other shareholders, Templeton is now beneficial owner of 20.5% of the ordinary
shares in Teleset.

Matjaz Schroll, Executive Director of Templeton's Emerging Markets Team, said:
"Templeton does not at this point intend to put forward another candidate for
appointment to the board, but will continue to work closely with Teleset and its
management team going forward to help it achieve its goals."

Yiannis Demetriou, Chief Executive Officer of Teleset, added: "Teleset has an
excellent relationship with Templeton and we are delighted that it will continue
to support the company as we pursue our strategy for profitable expansion in
Russia. We are very grateful for the contribution Yuri Mashintsev made to the
Board and wish him well for the future."


END



CONTACT

Teleset Networks                                         [phone]
Yiannis Demetriou

Templeton Asset Management                               [phone]
Matjaz Schroll

Blue Oar Securities Plc - Nominated Adviser              [phone]
Shane Gallwey / John Wilkes / Toby Gibbs

Metropol (UK) Limited - Broker                           [phone]
Alexander Selegenev

Bankside Consultants - Financial PR adviser              [phone]
Simon Bloomfield or Steve Liebmann



About Teleset


Teleset is a leading private fixed-line telecom operator in the Republic of
Tatarstan, Russian Federation, where the business has been operating since 1996.


In Kazan, the capital of the Republic of Tatarstan, Teleset owns an all-digital
local network with current switching capacity of 130,000 lines. Its US$17
million acquisition of TNPKO in November 2006 improved its coverage of Kazan
where its market share is approximately 27 per cent for voice traffic and 29 per
cent for data traffic.


Management's strategy is to become Tatarstan's leading telecom operator and to
expand into other cities within the Russian Federation, both organically and
through carefully selected acquisitions. The US$10.8 million acquisition in
November 2007 of OOO Svyazinvest, the third largest fixed-line telecom operator
in Naberezhnie Chelny, was the first strategic move by Teleset outside Kazan.
Naberezhnie Chelny, where the Company has a market share of approximately 10 per
cent, is the second largest city after Kazan in the Republic of Tatarstan.


Another key objective is to generate incremental revenues from its network. To
this end, in August 2007 the company launched a new cable TV service in four
districts of Kazan, (Aviastroitelny, Kirovsky, Novo-Savinovsky and Privolzhsky),
with a total addressable market of approximately 250,000 flats. The Company
plans to roll out the service in the other three districts of Kazan.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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