OREANDA-NEWS. February 25, 2011. Far East Telecom (RTS: ESPK, MICEX: DLSV, OTC USA: FEEOY, Frankfurt and Berlin stock exchanges: D7A) hereby announces that the Board of Directors of the Company adopted a decision to convene an extraordinary general meeting of shareholders on March 17, 2011, which is to take place in the form of absentia voting.

The proposed agenda of the Far East Telecom’s EGM addresses the following two issues:

1)     On making amendments to the Statute on the Board of Directors of Far East Telecom;

2)     On annual remuneration payable to the Board of Directors of Far East Telecom, i.e. to board members who have exercised their duties since the extraordinary general meeting of shareholders held on June 28, 2010.

The record date of persons entitled to participate in the extraordinary general meeting of shareholders of Far East Telecom will be February 9, 2011 (date as of which the shareholders register of Far East Telecom is closed).

The extraordinary general meeting of shareholders of Far East Telecom is to be convened at the request of Svyazinvest, which holds more than 10% of the Company’s voting shares.