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Information on the Agenda of Rostelecom Annual General Shareholders’ Meeting on the Results of the Year 2011

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Information on the Agenda of Rostelecom Annual General Shareholders’ Meeting on the Results of the Year 2011 INFORMATION ON THE AGENDA INFORMATION ON THE AGENDA OF ROSTELECOM ANNUAL GENERAL SHAREHOLDERS’ MEETING ON THE RESULTS OF THE YEAR 2011 Item 1: Approval of the Company’s annual report. The annual report of OJSC Rostelecom for 2011 is provided in Appendix 1 hereto. Item 2: Approval of Rostelecom annual financial statements including profit and loss statements (profit and loss accounts) of the Company. The statement of the Company's auditor, ZAO KPMG, on accounts of OJSC Rostelecom for 2011, the Company’s RAS financial statements for 2011, an excerpt from the minutes of the Audit Committee of the Board of Directors of the Company with assessment of the opinion of the independent audit company ZAO KPMG, on Rostelecom’s financial statements, and the report of the Audit Commission of the Company regarding the audit of the Company’s 2011 financial operating activities are attached hereto as Appendix 2. Item 3: Approval of distribution of the Company profits upon the results of the year 2011. Based on Rostelecom’s 2011 performance the Board of Directors of the Company recommends to distribute the Company profits upon the results of the reporting year 2011 as follows: . RUB 17,599,481 thousand or 54.05% of 2011 net profits to increase the Company’s equity; . RUB 14,961,559 thousand or 45.95% of 2011 net profits to be distributed as dividend on the Company shares for the year 2011, including: – to pay dividend in monetary form for type A preferred shares of the Company for the year 2011 in amount of RUB 4.6959 per share; – to pay dividend in monetary form for ordinary shares of the Company for the year 2011 monetary form in amount of RUB 4.6959 per share; To specify that payment of dividend to persons included in the list of persons as of April 28, 2012 entitled to receive dividend shall be performed in a manner that agrees with information on the way of receiving dividend supplied to the Company Registrar by registered persons. Pursuant to applicable laws of the Russian Federation and the Charter of the Company, shareholders who were on the register as of April 28, 2012, i.e. on the date making a list of persons entitled to participate in the Annual General Shareholders' meeting upon the results of the Company's performance in 2011. Item 4: Election of the Board of Directors (Supervisory Board) of the Company. The following proposals nominating candidates for Rostelecom Board of Directors were submitted to Rostelecom Board of Directors in accordance with the timeframe specified by applicable laws of the Russian Federation: – by OJSC Svyazinvest owning the total of 47,37% of the voting stock of OJSC Rostelecom as of February 29, 2012 (date of the proposal) to nominate: 1. Denis Afanasyev 2. Vladimir Bondarik; 3. Anton Zlatopolsky; 4. Sergei Kuznetsov; 5. Mikhail Leshchenko 6. Anatloly Miliukov 7. Alexander Pertsovsky; 8. Alexander Provotorov; 9. Ivan Rodionov; 1 INFORMATION ON THE AGENDA 10. Vadim Semenov; – by State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” owning 2.45% of the voting stock of OJSC Rostelecom as of February 29, 2012 (date of the proposal) to nominate 11. Yury Kudimov; 12. Anatoly Tikhonov. – by Red Hand Investments Limited and Stotter Limited owning 2,84% of the voting stock of OJSC Rostelecom as of January 20, 2012 (date of the proposal) to nominate: 13. Denis Kulikov. – by the Russian Federation acting by the Federal Agency for State Property Management, owning 7,43% of the voting stock of OJSC Rostelecom as of January 27, 2012 (date of the proposal) to nominate: 14. Denis Afanasyev. – by RENAIISSSANCE SECURITIES (CYPRUS) LIMITED) owning 2.02% of the voting stock of OJSC Rostelecom as of February 21, 2012 (date of the proposal) to nominate: 15. Pavel Grachev. – by OOO MOBITEL owning 6.55% of the voting stock of OJSC Rostelecom as of February 28, 2012 (date of the proposal) to nominate: 16. Anton Inshutin; 17. Alexander Provotorov. – by Evgeny Yurchenko, OOO Euro-trade, LINDSELL ENTERPRISES LIMITED owning 2.24% of the voting stock of OJSC Rostelecom as of February 27, 2012 (date of the proposal) to nominate: 18. Evgeny Yurchenko; 19. Victor Savchenko; 20. Anton Kolpakov; 21. Andrey Morozov; 22. Dmitry Levkovsky. – by OJSC Gazprom owning 9.66% of the voting stock of OJSC Rostelecom as of February 29, 2012 (date of the proposal) to nominate: 23. Sergey Azatyan; 24. Yury Bulatov; 25. Pavel Kuzmin; 26. Anatoly Miliukov; 27. Vladimir Rumyantsev. Thus, the list of candidates to the Board of Directors includes the following individuals: 1) Sergey Azatyan, Managing Director of the Moscow Representative Office of MarCap Advisors Limited Mr. Azatyan was born in 1979. He graduated from the Institute of International Economic Relations of the Financial Academy under the Government of the Russian Federation in Moscow. The table below provides the list of offices Mr. Azatyan held in the recent 5 years and his current position: Period Organization Office 2007-2009 LLC Marshall Consulting Head of Investment Division 2 INFORMATION ON THE AGENDA Moscow Representative Office of MarCap 2009 - 2011 Managing Director Advisors Limited Moscow Representative Office of MarCap 2011 - current Managing Director Investments Group Limited As of December 31, 2011, neither Mr. Azatyan, nor his family had interest in the charter capital of the Company or in the charter capital of any of its subsidiaries or dependent companies. As of December 31, 2011, neither Mr. Azatyan, nor his family had made any deals with securities of the Company or securities of any entities affiliated with the Company, including its subsidiaries and dependent companies. As of December 31, 2011, Mr. Azatyan – did not have any blood relatives among other persons that are members of the Company governing bodies and/or members of bodies controlling financial and operational activities of the Company; – has not been brought to book on administrative charges for any offence in the area of finance, taxes and levies, securities market, or on criminal charges (clean record) for any offence in the sphere of economy or for crimes against government; – did not hold any positions on executive bodies of any businesses in the period when any action for bankruptcy or/and any of the bankruptcy procedures provided under the insolvency (bankruptcy) laws of Russia was brought in and/or instituted against any such business. 2) Denis Afanasyev, Advisor to Minister, Ministry of Telecom and Mass Communications of the Russian Federation Mr. Afanasyev was born in 1978. In 2003 he graduated from the Moscow State Service University where hespecialized in law and obtained the qualification of a lawyer. The table below provides the list of offices Mr. Afanasyev held in the recent 5 years and his current position: Period Organization Office Unit Head, Administrative Department of the Ministry of Ministry of Telecom and Mass 2008 - 2009 Telecom and Mass Communications of the Russian Federation Communications of the Russian Federation Advisor to Minister of Telecom and Ministry of Telecom and Mass 2009 - current Mass Communications of the Communications of the Russian Federation Russian Federation The Company is not informed of Mr. Afanasyev or his family interest in the charter capital of the Company or in the charter capital of any of its subsidiaries or dependent companies. As of December 31, 2011 Mr. Afanasyev – did not have any blood relatives among other persons that are members of the Company governing bodies and/or members of bodies controlling financial and operational activities of the Company; – has not been brought to book on administrative charges for any offence in the area of finance, taxes and levies, securities market, or on criminal charges (clean record) for any offence in the sphere of economy or for crimes against government; – did not hold any positions on executive bodies of any businesses in the period when any action for bankruptcy or/and any of the bankruptcy procedures provided under the insolvency (bankruptcy) laws of Russia was brought in and/or instituted against any such business. 3) Vladimir Bondarik, General Director of Giprosvyaz Mr. Bondarik was born in 1957. In 1980 he graduated from the Moscow Institute of Physics and Technology where he specialized in radioelectronic devices and obtained the qualification of an engineer-physicist. The table below provides the list of offices Mr. Bondarik held in the recent 5 years and his current position: 3 INFORMATION ON THE AGENDA Period Organization Office Deputy General Director, 2005 – 2008 LLC RoilSystems Managing Director, General Director 2008 – 2009 LLC Roilcom General Director 2009 – current OJSC Rostelecom Member of the Board of Directors Deputy General Director, Member 2009 – 2011 OJSC Svyazinvest of the Management Board Advisor to Minister of Telecom and Ministry of Telecom and Mass Mass Communications of the 2009 – current Communications of the Russian Federation Russian Federation on a voluntary basis 2009 – 2011 OJSC Svyazintek Member of the Board of Directors 2010 – 2011 OJSC RTcomm.RU Member of the Board of Directors 2010 – 2011 OJSC Rostelecom Chairman of the Board of Directors 2010 – current OJSC Vitanet Chairman of the Board of Directors General Director, Chairman of the 2011 - current OJSC Giprosvyaz Management Board As of December 31, 2011, neither Mr. Bondarik, nor his family had interest in the charter capital of the Company or in the charter capital of any of its subsidiaries or dependent companies. As of December 31, 2011, neither Mr. Bondarik, nor his family had
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