Moscow – March 10, 2010 – Rostelecom (RTS, MICEX: RTKM, RTKMP; OTC: ROSYY), Russia’s national telecommunications operator, announces the decision of its Board of Directors following the absentee voting results.

The Board has decided to call an Extraordinary General Shareholders’ Meeting (EGM) following a request by the Russian Deposit Insurance Agency (RDIA); a shareholder with more than 10% of Rostelecom’s voting shares, with the agenda as follows:

- Pre-term termination of authority of the members of Rostelecom’s Board of Directors;

- Election of new members to Rostelecom’s Board of Directors.

The EGM will be held on 29 May 2010 at the Company’s Bekasovo Training Center (Moscow region, Naro-Fominsk district).

Shareholders on record as of 10 March 2010, will be entitled to participate in the EGM.

The proposals nominating candidates to the Board of Directors for election at the EGM may be submitted by shareholders holding more than 2% of the Company’s voting stock no later than 29 April 2010.