The Extraordinary General Shareholders' Meeting of OJSC Rostelecom (RÒS è MICEX: RTKM, RTKMP; OTC: ROSYY), that took place on 29 May 2010, terminated the powers of the former Board o Directors of the Company and elected a new Board of Directors with the following members:

1. Anatoly B. Ballo, Management Board member, Deputy Chairman of Vnesheconombank;
2. Vladimir N. Bondarik, Deputy General Director of Svyazinvest;
3. Sergei I. Kuznetsov, Member of Independent Directors’ National Register of the Russian Union of Industrialists and Entrepreneurs;
4. Konstantin V. Malofeev, Managing Partner of MarCap Advisors Limited;
5. Mikhail I. Poluboyarinov, Director of Infrastructure Department of Vnesheconombank;
6. Alexander Yu. Provotorov, First Deputy General Director of Svyazinvest;
7. Viktor D. Savchenko, Deputy General Director of Svyazinvest;
8. Yury V. Surkov, Deputy Director of Infrastructure Department of Vnesheconombank;
9. Anatoly V. Tikhonov, Management Board member, First Deputy Chairman of Vnesheconombank;
10. Yelena V. Umnova, Deputy General Director of Svyazinvest;
11. Yevgeny V. Yurchenko, General Director of Svyazinvest»;

At the first meeting of the Board of Directors Yevgeny Yurchenko was elected as the Chairman of the Board.
OJSC Rostelecom Extraordinary General Shareholders Meeting was convened at the request of the sate corporation Deposit Insurance Agency as a shareholder owning not less than 10 percent of the Company's voting shares. The meeting had the following agenda:

1. On early termination of the office of the members of Rostelecom Board of Directors
2. On election of a new Board of Directors of OJSC Rostelecom

According to Rostelecom’s Charter the Company Board of Directors consists of 11 members.