OREANDA-NEWS. January 11, 2011. Far East Telecom (RTS: ESPK; MICEX: DLSV, OTC USA: FEEOY, Frankfurt and Berlin stock exchanges: D7A) hereby announces that on December 20, 2010 the Arbitration Court of the Primorsk Territory upheld a claim filed by Svyazinvest for the purpose of ordering Far East Telecom to conduct an extraordinary shareholders meeting.

Pursuant to the ruling issued by the Krasnodar Regional Arbitration Court dated December 20, 2010 on the lawsuit filed by Svyazinvest against Far East Telecom, the one-man executive body of Far East Telecom passed the following resolution (No. December 21, 2010):

1. To convene an extraordinary general meeting of shareholders of Far East Telecom.

2. To determine:

the form in which said extraordinary general meeting of shareholders is to be conducted: an in praesentia shareholders meeting to discuss issues on the agenda and adopt decisions on issues put to vote);

the date for conducting the extraordinary general meeting of shareholders: March 7, 2011;

the place for conducting the extraordinary general meeting of shareholders:  36 Praporshika Komarova St., Vladivostok Telecommunications Center, Vladivostok;      

the commencement time for the extraordinary general meeting of shareholders – 11 am;

the date and time for the registration of people attending the extraordinary general meeting of shareholders on March 7, 2011: 8:30 am;

mailing addresses to which completed ballot sheets may be sent to:

57 Svetlanskaya St., Far East Telecom, Corporate Secretary Office, 690091;

P.O. Box 151 (for ORK), Moscow, 115280.

     the date for compiling the list of people eligible to attend the extraordinary general meeting of shareholders (record date) – December 21, 2010. 

3. To determine the following procedure for conducting the extraordinary general meeting of shareholders: notification that Far East Telecom is to hold an extraordinary

shareholders meeting shall be published in “Rossiiskaya Gazeta”  by December 26, 2010.

4. To approve the following agenda for the extraordinary general meeting of shareholders of Far East Telecom:

On premature termination of the powers of the Board of Directors of Far East Telecom.

On the appointment of members of the Board of Directors of Far East Telecom.

5. To determine the following list of information (materials) which is to be provided to shareholders when preparing for the extraordinary general meeting of shareholders:

-         Ruling No. 1 dated December 21, 2010 adopted by the One-Man Executive Body of Far East Telecom on convening extraordinary general meeting of shareholders;

-         Information on candidates for the company’s Board of Directors, including information on the presence or absence of written consent;

-         Draft resolutions of the extraordinary general meeting of shareholders.

6. To determine the following procedure for persons eligible to attend the extraordinary general meeting of shareholders by way of preparation for the extraordinary general meeting of shareholders to peruse the following information:

Place where materials are available:

-         At the company’s office address: 57 Svetlanskaya St., Vladivostok, Corporate Secretary’s office – starting on February 15, 2011;

-         At the company’s branch locations starting on February 15, 2011 at the following addresses:

-         Amur branch – 40 Pionersksaya St., Blagoveshchensk, 675000;

-         Kamchatka branch – 56 Leninskaya St, Petropavlovsk-Kamchatsky, 683000;

-         Primorsky branch – 37 Krasnogo Znameni St., Vladivostok, 690600;

-         Magadan branch – 2-A Lenina pr-t, Magadan, 685000;

-         Sakhalin branch – Yuzhno-Sakhalinsk, 220 Lenina St., 693000;

-         Khabarovsk branch – 58 Karla Marksa St., Khabarovsk, 680000;

-         Sakhatelecom branch – 22 Kurashova St., Yakutsk, 677000;

-         and also on the company’s Russian and English corporate websites at www.dsv.ru.