Moscow, Russia – May 14, 2013 – Rostelecom OJSC (MICEX - RTS: RTKM, RTKMP; OTCQX: ROSYY) (the “Company”), Russia’snational telecommunications operator, announces that its Board of Directors has rescheduled a meeting held to convene an Extraordinary General Meeting (“EGM”) by proxy to May 15, 2013, with the agenda for the meeting remaining unchanged. The meeting had previously been planned for the May 13, 2013. The Board of Directors will consider the following matters:

·         The convening of an EGM by proxy to approve the reorganisation of the Company by merging Svyazinvest OJSC (“Svyazinvest”) and 20 other companies[1](either directly or indirectly fully owned by Rostelecom OJSC and/or Svyazinvest) on June 26, 2013;

·         The setting of a record date for the EGM on May 15, 2013;

·         The approval of a list of information to be provided to shareholders, as well as the proxy form for voting at the EGM.

[1]National Telecommunications OJSC, National Cable Networks OJSC, St. Petersburg Cable Television Company OJSC, ELKATEL CJSC, National Cable Networks – EuroAsia OJSC, Novosibirsk Antenna Cable Television Broadcasting CJSC, Teleset-Service CJSC, ELTELEKOR CJSC, Mosteleset OJSC, Mostelecom OJSC, TELESET CJSC, TELESET INVEST CJSC, TNPKO OJSC, Simbirsky Telecommunications Systems CJSC, Svyazinvest CJSC, Russian Telecommunications Network OJSC, Novgorod Datacom CJSC, Parma-Inform CJSC, ENTER CJSC and  Ingushelektrosvyaz OJSC.