OREANDA-NEWS. On 03 March 2008 was announced, that the Board of Directors of Svyazinvest held a meeting that was attended by:

 - Leonid Dododzhonovich Reiman, Telecom Minister of the Russian Federation

- Alexander Evgenievich Gorbunov, Vice President for Strategy and Corporate Center Development at Comstar – United TeleSystems

- Alexander Nikolaevich Kiselev, General Director of Svyazinvest

- Lyudmila Ivanovna Pridanova, Deputy Head of the Federal Agency for Federal Property Management

- Vadim Alexeevich Stepanov, State Secretary – Deputy Director of the Federal Guard Service of Russia.

The Company’s BoD addressed the following agenda issues:


- To place issues on the agenda of the Company’s annual shareholder meeting

- To appoint nominees to be elected at the Company’s AGM to the Board of Directors

- To appoint nominees to be elected at the Company’s AGM to the Audit Committee

- To reorganize CenterTelecom and Central Telegraph in the form of Central Telegraph’s takeover by CenterTelecom and work out positions for Svyazinvest’s representatives to vote on the reorganization issue at general shareholder meetings of these companies”

 
1) To place on Svyazinvest’s AGM agenda the following issues proposed by the Federal Federal Property Management Agency:

- To approve the Company’s annual report

- To approve the annual accounting records, including P&L statements (P&L accounts) of the Company

- To approve the allocation of the Company’s profit for 2007

- To set the amount, deadline and form of 2007 dividend payouts

- To elect the Company’s board members

- To elect members of the Company’s audit committee

- To appoint the Company’s auditor

2) To add the following candidates proposed by the shareholder, the Federal Property Management Agency, to the list of appointees to be elected to Svyazinvest’s BoD at the AGM:

- Kirill Gennadievich Androsov, Deputy Economic Development and Trade Minister of the Russian Federation

- Boris Dmitrievich Antonyuk, Deputy Telecom Minister of the Russian Federation

- Anatoly Filippovich Evseyev, a Department Head at the Federal Property Management Agency

- Alexander Nikolaevich Kiselev, General Director of Svyazinvest

- Vasily Mikhailovich Popik, Deputy Head of the Presidential Expert Directorate

- Lyudmila Ivanovna Pridanova, Deputy Head of the Federal Property Management Agency

- Leonid Dododzhonovich Reiman, Telecom Minister of the Russian Federation

- Yury Pavlovich Kornev, State Secretary – Deputy Director of the Federal Guard Service of Russia

- Alexey Konstantinovich Uvarov, Acting Head of the Directorate at the for Federal Property Management Agency.

To add the following nominees proposed by the shareholder, Comstar – United TeleSystems, to the list of appointees to be elected to Svyazinvest’s BoD at the AGM:

- Anton Vladimirovich Abugov, First Vice President of AFK Sistema

- Alexander Yurievich Goncharuk, President of AFK Sistema

- Alexander Evgenievich Gorbunov, Vice President for Strategy and Corporate Center Development at Comstar – United TeleSystems

- Vitaly Gennadievich Saveliev, First Vice President and Head of the Complex for Development of Telecommunications Assets at AFK Sistema

3) To add the following nominees proposed by the shareholder, the Federal  Property Management Agency, to the list of appointees to be elected to Svyazinvest’s audit committee at the AGM:

- Svetlana Vladimirovna Antsiferova, Deputy Head of a Directorate at the Federal Telecommunications Agency – Chief Accountant of the Federal Telecommunications Agency

- Galina Vladimirovna Zakhariashcheva, Deputy Director of a Department at the Telecommunications Ministry of the Russian Federation

- Mikhail Yurievich Kurbatov, Deputy Director of a Department at the Economic Development and Trade Ministry of the Russian Federation

- Egor Nikolaevich Polyakov, Head of the Directorate at the Federal  Property Management Agency

- Lyubov Stepanovna Timoshenko, Director of a Department at the Russian Telecommunications Ministry of the Russian Federation.

To add the following nominees offered by the shareholder, Comstar – United TeleSystems, to the list of appointees to be elected to Svyazinvest’s audit committee at the AGM:

- Mikhail Vladimorovich Tokun, Head of the Expertise and Methodology Directorate of AFK Sistema’s Internal Control and Audit Department

- Olga Vasilievna Shurygina, Director of the Internal and Audit Department at AFK Sistema

4) To approve on the whole the reorganization of CenterTelecom and Central Telegraph in the form of Central Telegraph’s takeover by CenterTelecom. To authorize Svyazinvest to provide the shareholders with additional materials on this issue.