On November 20, 2010 North-West Telecom finished receiving requests for premature fulfillment of obligations from creditors disagreeing to N.W.Telecom reorganization in the form of merger with Rostelecom JSC.

All of the Company’s creditors have this right in accordance with Article 60(3) of the Russian Federation Civil Code.

The notifications of Rostelecom becoming N.W.Telecom’s successor in all rights and duties, to fulfill all obligations previously undertaken by N.W.Telecom on its own behalf, were published in The Bulletin of State Registration of September 15 and October 20, 2010.

Within one month from the day of publication of the last notification of succession to all rights and duties, N.W.Telecom received no requests for premature fulfillment of obligations. Thus, the North-West Telecom creditors supported the Company reorganization in the form of merger with Rostelecom.

Venera Khusnutdinova, Deputy General Director, Chief Financial Officer of North-West Telecom, commented that “the Company’s creditors, as well as N.W.Telecom shareholders , have supported the reorganization. This indicates their confidence in the high credit quality of the new operator.”

More information on N.W.Telecom reorganization in the form of merger with Rostelecom JSC is available on the corporate website in the Reorganization section.