OREANDA-NEWS. March 19, 2010. In accordance with its Articles of association VolgaTelecom has completed the procedure of appointing nominees to the Board of directors and Auditing committee to be elected at the Company’s annual shareholders general meeting. On March 05, 2010 VolgaTelecom’s Board of directors considered the proposals of the Company’s shareholders about appointing nominees to the Company’s Board of directors and the Auditing committee to be elected at the annual general meeting of shareholders.

After examination of eligibility criteria and filed applications in regard to their compliance with RF legislation requirements and the provisions of the Company’s Articles of association, VolgaTelecom’s Board of directors has made the decision to include the following persons into the list of candidates for the election to OJSC VolgaTelecom’s Board of directors at the annual general meeting of shareholders in 2010:

No

Name, patronymic and surname

Post

1.

Irina A. Arkhipova

OJSC Svyazinvest, deputy director of economic planning and budgeting department

2.

Kirill M. Bagachenko

OJSC KIT Fortis Investments, assets manager

3.

Mikhail V. Batmanov

OJSC Svyazinvest, deputy director of corporate governance and legal support department

4.

Igor V. Belikov

Non-commercial Partnership Russian Institute of Directors, director

5.

Yuri V. Bovkun

CJSC Pride Holding, General Director

6.

Alexander P. Bychkov

OJSC INVESTMENT COMPANY IC RUSS-INVEST, President – General Director

7.

Valentina F. Verem’yanina

OJSC Svyazinvest, director of corporate governance and legal support department

8.

Alexander V. Golovtsov

CJSC Managing Company UralSib, head of analytical studies department

9.

Bogdan I. Golubitskyi

OJSC Svyazinvest, director of economic planning and budgeting department

10.

Denis L. Demidov

Non-profit organization Non-government Pension Fund BLAGOSOSTOYANIE, deputy executive director

11.

Ekaterina S. Erofteeva

OJSC Svyazinvest, executive director – director of strategy and development department

12.

Sergey M. Kerber

CJSC Lider (the company for administration of assets of pension fund), director of investment projects and programs - managing director

13.

Lyudmila A. Kormilitsyna

OJSC Svyazinvest, head of section of corporate governance and legal support department

14.

Mikhail I. Kritskyi

OJSC Svyazinvest, Deputy General Director

15.

Denis V. Kulikov

Association for Investors Rights Protection, executive director

16.

Mikhail A. Leshchenko

OJSC Svyazinvest, Deputy General Director

17.

Vladimir F. Lyulin

OJSC Svyazinvest, advisor to General Director

18.

Andrey V. Morozov

Moscow representation office of NCH Advisors Inc., head of legal section

19.

Sergey A. Orlov

OJSC Svyazinvest, advisor to General Director

20.

Iliya V. Ponomarev

OJSC Svyazinvest, director of finance department

21.

Alexander Yu. Provotorov

OJSC Svyazinvest, First Deputy General Director

22.

Victor D. Savchenko

OJSC Svyazinvest, Deputy General Director

23.

Yuri S. Sizov

CJSC Lider (the company for administration of assets of pension fund), Deputy General Director for strategic development

24.

Vladimir A. Stat’in

Non-Commercial Partnership “Association for Protection of Interests of Shareholders of Enterprises and Organizations”, General Director

25.

Dmitry Yu. Tushunov

CJSC Lider (the company for administration of assets of pension fund), chief of analytical department – chief economist

26.

Oleg R. Fedorov

CJSC VTB Capital, department of investment-banking operations in global markets, managing director

27.

Yuri A. Shaginov

CJSC Lider (the company for administration of assets of pension fund), manager of investment projects of the directorate of investment projects and programs

28.

Alexander V. Shevchuk

Association for Investors Rights Protection, deputy executive director

29.

Evgeny V. Yurchenko

OJSC Svyazinvest, General Director

The Board of directors has appointed the following nominees for the election to OJSC VolgaTelecom’s Auditing committee at the annual general meeting of shareholders:

No

Name, patronymic and surname

Post

1.

Svetlana N. Bocharova

OJSC Svyazinvest, head of section of bookkeeping, tax and statistics accounting department 

2.

Nataliya V. Ermolaeva

OJSC Svyazinvest, deputy department director – head of section of medium-term planning department

3.

Olga G. Koroleva

OJSC Svyazinvest, chief accountant

4.

Yaroslav Yu. Murashkin

OJSC Svyazinvest, finance department, deputy head of section

5.

Igor G. Polovnev

Association for Investors Rights Protection, expert

6.

Natalia V. Feoktistova

OJSC Svyazinvest, corporate governance and legal support department, head of section

The Board of directors is collegial management body of the Company; it carries out general management of the Company, excluding the solution of issues referred by federal laws and the Company’s Articles of association to the competencies of general meeting of the Company’s shareholders. The Board of directors of OJSC VolgaTelecom consists of 11 persons elected by annual general meeting of shareholders.

The Auditing committee controls financial and economic operations of the Company and is elected by general meeting of shareholders as per the procedure provided for by current legislation and the Company’s Articles of association for one year period, the committee consists of 5 persons.