OREANDA-NEWS. February 25, 2011. The Board of Directors of VolgaTelecom passed by a majority of votes a resolution to convene an extraordinary general meeting of shareholders (EGM) and determined the following issues:

- the extraordinary general shareholders meeting shall be held by absentee voting;

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

- the record date for the extraordinary general shareholders meeting of UTK shall be February 15, 2011.

The Board of Directors 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 VolgaTelecom.

On the annual remuneration payable to members of the Board of Directors of VolgaTelecom, which have performed their duties since the annual general shareholders meeting held on June 21, 2010.