OREANDA-NEWS. February 25, 2011. Southern Telecommunications Company (UTK) [(RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the largest fixed-line telecommunications operator in the Southern and North-Caucasus federal districts, hereby announces that the following resolution was passed today at a meeting of the Board of Directors of UTK (minutes No. 21 dated February 14, 2011):

- to convene an extraordinary general shareholders meeting of UTK, and to determine the following issues:

- the extraordinary general shareholders meeting shall be held in the form of joint presence;

- the deadline for accepting ballot sheets shall be March 22, 2011;

- the postal address to which ballot sheets should be sent: POB 151 Moscow, 115280 (for ORK);

- the record date for the extraordinary general shareholders meeting of UTK shall be February 14, 2011.

The Board of Directors of UTK also approved the agenda for the EGM, which shall include the following issues:

On making amendments to the Regulations on the Board of Directors of UTK.

On the annual remuneration payable to members of the Board of Directors of UTK, which have performed their duties since the annual general shareholders meeting held on June 16, 2010.