OREANDA-NEWS. August 24, 2010. A meeting of the Board of Directors was held at which issues were discussed relating to the preparation and conduct of the extraordinary general shareholders meeting of Sibirtelecom (hereinafter, the Company) by way of absentee voting.

The record date for persons eligible to participate in the extraordinary shareholders meeting was set as August 31, 2010.

Notification that the EGM is to be held will be served by registered mail to each person shown on the list of individuals eligible to attend the meeting no later than September 17, 2010.

Ballot sheets will be accepted by the Company until October 20, 2010 (inclusive) at the following addresses: Sibirtelecom, 53 M. Gorkogo St., Novosibirsk, 630099, and also 3 Smolenskaya Ploshad, sector A, 6th floor, Moscow, the representative office of Sibirtelecom.

The following items are on the agenda for the Company’s extraordinary general shareholders meeting:

On Sibirtelecom’s payout of 9M 2010 dividends;

On amending the Statute on the Board of Directors of Sibirtelecom;

On the annual compensation payable to members of the Board of Directors of the Company which perform their duties after the annual general shareholders meeting held on June 5, 201.

The Board of Directors issued a recommendation for the extraordinary general shareholders meeting of the Company to adopt a decision on paying out 9M 2010 dividends in the following amounts:

0.0000000025125909 % of the Company’s 9M 2010 net profit per one class A preferred share;

0.0000000012659577 % of the Company’s 9M 2010 net profit per one common share,

The list of information to be provided to persons eligible to attend the extraordinary general shareholders meeting when preparations are made for conducting the EGM contains the following materials:

Recommendations of the Board of Directors of the Company regarding the amount of dividends on the Company’s shares and the payout procedure based on 9M 2010 results;

Extracts from minutes of the meeting of the Board of Directors on issues regarding preparations for the extraordinary general shareholders meeting;

Draft amendments to the Statute on the Board of Directors of the Company;

Draft decisions of the extraordinary general shareholders meeting.

Shareholders may peruse the above-mentioned materials from September 20, 2010 until October 20, 2010 inclusive at the following addresses:

at the Company’s headquarters:

53 M. Gorkogo St., apt. 108, Novosibirsk;

at the Company’s representative office:

3 Smolenskaya Ploshad, sector A, 6th floor, Moscow;

 at the Company’s branches:

Altai branch – 74 Internatsionalnaya St., Barnaul;

Buriyatia branch – 42 Lenina St., Ulan-Ude;

Gorno-Altai branch – 51/1 Choros-Gurkina St., Gorno-Altaisk, Republic of Altai;

Irkutsk branch – 37 Sverdlova St., Irkutsk;

Kemerovo branch – 61 prospekt Sovetsky, Kemerovo;

Krasnoyarsk branch, 102 prospekt Mira, Krasnoyarsk;

Novosibirsk branch – 5 Lenina St., Novosibirsk;

Omsk branch – 36 Gagarina St., Omsk;

Tomsk branch – 83a pr. Frunze, Tomsk;

Khakassia branch – 20 Shetinkina St., Republic of Khakassiya;

Trans Baikal branch – 107 Lenina St., Chita.

Viewing schedule: from Monday to Thursday, from 9 am to 4 pm local time, Friday from 9 am to 3 pm local time.