On July 23rd, 2010 the session of the Board of Directors of N.W.Telecom reviewed the issue of the persons and term of authority of members of the Company’s Executive Board.

Having reviewed the materials submitted for the session, the Board of Directors of N.W.Telecom decided to appoint the following persons to the Company’s Executive Board:

1. Andrey S. Ganov - Regional Director, Vologda Branch, N.W.Telecom
2. Viktor I. Plyachenko - Regional Director, St. Petersburg United Branch, N.W.Telecom
3. Oleg V. Popov - Deputy General Director - Chief Commercial Director, N.W.Telecom
4. Oleg A. Semanov - Deputy General Director - Chief Technical Director, N.W.Telecom
5. Maya M. Semchenko - Chief Accountant, N.W.Telecom
6. Irina V. Tambovskaya - Deputy General Director – Director of Human Resources Department, N.W.Telecom
7. Ella I. Tomilina - Deputy General Director – Corporate Affairs Officer, N.W.Telecom
8. Grigory B. Chernyak - Deputy General Director for General Issues, N.W.Telecom
9. Alexey V. Shalagin - First Deputy General Director, N.W.Telecom
10. Vladimir I. Shumeiko - First Deputy General Director, N.W.Telecom.

In accordance with the Federal Law on Joint-Stock Companies and the Company’s Articles of Association, the functions of the Chairman of the Executive Board shall be performed by Vladimir A. Akulich, Chief Executive Officer, N.W.Telecom.

The Board of Directors of N.W.Telecom defined the term of authority of the Executive Board to be till August 3rd, 2011.