OREANDA-NEWS. CenterTelecom held a BoD meeting at which decision were adopted on issues related to the organization and conduct of the annual general shareholders meeting.
 
During the meeting, members of the board pre-approved the Company’s 2006 annual financial statement; reviewed the accounts reports including the P&L statement, statements by the auditor and Audit Committee; recommendations were approved on profit allocation, incl. the size and term of payment for the Company’s shares.

 In addition, amendments and additions to the Charter and the Statute on the Board of Directors of CenterTelecom were discussed.
 
Members of the Board of Directors proposed appointing Ernst & Young as CenterTelecom’s 2007 auditor, adopted recommendations on the size of remuneration for members of the Board of Directors. The attendees of the meeting also approved the wording and procedure for the announcement of the annual general shareholders’ meeting; the list of information to be provided to shareholders; and the form and wording of the ballot sheets.

The decisions of the Board of Directors of the Company were adopted in view of the recommendations of the Corporate Governance Committee, the Audit Committee and the Committee for Executives and Remuneration of the BoD of CenterTelecom.

In accordance with the decisions of the Board of Directors, adopted at a meeting on April 13, 2007, the following agenda for the AGM was approved:

1. Approval of the annual financial statement, annual accounting reports, including the P&L statement (profit and loss accounts) of the Company, as well as profit allocation (including dividend payouts) and the Company’s losses based on 2006 financial results;

2. Election of members of the Board of Directors of the Company;

3. Election of members of the Audit Committee of the Company;

4. Approval of the Company’s 2007 Auditor;

5. Making amendments and additions to the Company Charter. Approval of the new version of the Company Charter;

6. Making amendments and additions to the Company’s Statute on the Board of Directors. Approval of the new version of the Company’s Statute on the Board of Directors.

7. Determination of the annual remuneration of members of the Board of Directors of the Company.

8. On terminating participation of CenterTelecom in the Association for Telecommunications in the Central Black Earth Region.

The annual general shareholders meeting of CenterTelecom will be held on June 18, 2007 at 11 am at the following address: Olimpiisky Prospekt, 18/1 Hotel Renaissance Moscow, Moscow.  The ex-dividend date is May 4, 2007.

The postal address to which ballot sheets can be sent to the AGM is: Degtyarny per. d. 6, str. 2, Moscow, gsp-3, 125993. The deadline for submitting ballot sheets is June 15, 2007, inclusive.