On 5th March 2010 a meeting of the Board of Directors of JSC North-West Telecom took place and considered proposals as to nomination of candidates to the Company’s management and control bodies, received from shareholders holding all in all at least 2 % of the voting shares of the Company.

Based on the results of voting , the following list of candidates for the election to the Board of Directors of JSC N.W.Telecom for voting at the annual general meeting of the shareholders of the Company in 2010 has been approved:

- Valentina F. Veremyanina, Director of the Corporate Governance and Legal Support Department, OJSC Svyazinvest;

- Natalya S. Vorobyov a , Director of the Medium - term Planning Department, OJSC Svyazinvest;

- Victor I. Koresh, Vice-President in Charge of Regional Development, OJSC COMSTAR-OTS, and General Manager, OJSC STREAM TV;

- Denis V. Kulikov, Acting director, Investor Protection Association;

- Dmitry V. Levkovsky, Corporate Governance Director, NCH Advisors, Inc. Moscow Office;

- Mikhail A. Leshchenko, Deputy General Director, OJSC Svyazinvest;

- Sergey A. Lukash, Deputy General Director, OJSC Svyazinvest;

- Alexey A. Malysh, Director of the Telecommunications Department, OJSC Svyazinvest;

- Oxana V. Petrova, Division Manager, Corporate Governance and Legal Support Department, OJSC Svyazinvest;

- Alexandr Y. Provotorov, First Deputy General Director, OJSC Svyazinvest;

- Ivan I. Rodionov, Professor, SU Higher School of Economics;

- Georgy A. Romsky, Counselor of the General Director, OJSC Svyazinvest;

- Yelena V. Umnova, Deputy General Director, OJSC Svyazinvest;

- Nadezhda V. Umnova, Deputy General Director, OJSC Svyazinvest;

- Yevgeny V. Yurchenko, Chief Executive director, OJSC Svyazinvest;

- Valery N. Yashin, Chairman of the Board of Directors , OJSC Svyazinvest-Media.

The Board of Directors of OJSC N.W.Telecom has taken the decision to include the following candidates in the list for voting in the election s of the Auditing Committee:

- Lyudmila A. Arzhannikova, Division Head, Medium-term Planning Department, OJSC Svyazinvest;

- Svetlana N. Bocharova, Division Head, Accounting, Tax and Statistical Records Department, OJSC Svyazinvest;

 -Tatyana Y. Zubova, Division Head, Accounting, Tax and Statistical Records Department, OJSC Svyazinvest;

- Alexey E. Kopyov, Director of the Internal Audit Department, OJSC Svyazinvest;

 -Lyudmila A. Kormilitsina, Division Manager, Corporate Governance and Legal Support Department, OJSC Svyazinvest;

- Sergey V. Pokrovsky, Expert, Investor Protection Association;

- Ilya V. Ponomaryov, Director of the Finance Department, OJSC Svyazinvest;

- Ivan V. Topolya, Deputy Chief Accountant , OJSC Svyazinvest.

The new Board of Directors and Auditing Committee of OJSC N.W.Telecom will be elected by the annual general meeting of the shareholders by cumulative voting. According to the Articles of Association of OJSC N.W.Telecom, the Board of Directors of the Company consists of 11 members and the Auditing Committee of the Company consists of 7 members.