Moscow – November 9, 2010 – Rostelecom OJSC (“the Company”) (RTS, MICEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announced that its Board of Directors (the “Board”) has set the date for the Company’s Extraordinary General Meeting of Shareholders (“EGM”) for January 22, 2011.The EGM will be held in the form of a meeting in presented.

The proposed agenda includes the re-election of the current members of the Company’s Board of Directors and approval of the amendments to the Charter, regarding a split of the data on the Company’s branches to separate balance sheets.

Shareholders registered as at the record date of October 29, 2010 will be eligible to participate and vote at the meeting. The EGM has been convened by the request of Telecommunication Investment Joint Stock Company (“Svyazinvest”), as a shareholder in Rostelecom, holding no less than 10% of the voting shares in the Company. The EGM will take place at the Company’s Bekasovo Training Centre: Naro-Fominsk District, Moscow Region.