OREANDA-NEWS. March 24, 2011. The Company hereby informs that as a result of the current reorganization trading OJSC Far East Telecom securities will be terminated, including shares, corresponding depository receipts and commercial.

On March 25th 2011 Far East Telecom plans to submit to registration authority applications for records in Unified State Register of Legal Entities (hereinafter USRLE) concerning termination of its business in connection with consolidation with OJSC Rostelecom.

In accordance with requirements of Russian Federal Service for Financial Markets (hereinafter Russian FSFM) such information must be published in newswire in the form of information which may have material affect on value of the joint stock company securities, and in according to stock exchange rules may result in trading termination up to the reorganization date.

Date of completion of the consolidation will be the date of record in the USRLE on termination of the Company business. Common and preferred shares as well as bonds of OJSC Far East Telecom will be converted into common and preferred shares of OJSC Rostelecom respectively. The conversion will be concurrent with making records in the USRLE on termination of the Company business due to consolidation with OJSC Rostelecom, and is expected on April 1st 2011.

According to stock exchange rules resolution for termination of trading in securities to be cancelled as a result of reorganization shall be made not later than on the business day following the date of reorganization notice published by issuer. Therefore, termination of trading in OJSC Far East Telecom securities on Russian and foreign trading floors is expected on the next day after relevant publication.

Trading new issues of OJSC Rostelecom common shares and commercial papers is expected to start on Russian stock exchanges upon emission report preparation and registration by Russian FSFM. In accordance with FSFM rules reports are registered within 14 days. Trading in level 1 ADR for the new stock issues will also be possible on foreign trade floors upon registration of the aforesaid reports.

Trading in existing issues of common and preferred shares of OJSC Rostelecom and corresponding depositary receipts will continue throughout the reorganization.

Resolution for merging OJSC Rostelecom, OJSC TsentrTelecom, OJSC Sibirtelecom, OJSC Far East Telecom, OJSC Uralsvyazinform, OJSC VolgaTelecom, OJSC SZT, OJSC UTK and OJSC Dagsvyazinform into a joint company was made on Annual Meeting of OJSC Rostelecom Shareholders on June 26th 2010. Shareholders of all the merging companies voted for the reorganization at their respective general meetings in summer 2010.