OREANDA-NEWS. April 6, 2011. According to the information (see enclosure) received from Open Joint Stock Company Long-Distance and International Telecommunications Rostelecom (hereinafter ‘Rostelecom'), the pending reorganization of Rostelecom will be made in accordance with the following procedure.

The date of Rostelecom reorganization in the form of merger with Central Telecommunications Company; VolgaTelecom; North-West Telecom; Uralsvyazinform; Southern Telecommunications Company; Sibirtelecom; Far East Telecommunications Company; Dagsvyazinform; (hereinafter ‘Acquired Companies') is planned to be the date of entry to the Unified State Register of Legal Entities on the discontinuation of activities of the Acquired Companies, tentatively April 01, 2011.

During the conversion of securities fractional coefficients will be used, so the Company's registrar will request DCC to provide lists of holders of the registered securities of the Acquired Companies after the securities are converted in the share register of Rostelecom. DCC will then forward the shareholder listing requests to its Participants.

Please note that the deadline for provision of the shareholder lists to DCC will be indicated in the requests forwarded to Participants and may be limited to two (2) business days. DCC will not accept any additional disclosure or amendment of the shareholder lists after the established deadline.

All transactions with the securities of the Acquired Companies will be suspended at the end of the operating day on the date of entry to the Unified State Register of Legal Entities on the discontinuation of activities of the Acquired Companies.

The shares will be distributed to the Participants' accounts after DCC receives all the necessary documents.

After the securities of Rostelecom are distributed, DCC will provide Participants (nominee holders) with the information on the number of Rostelecom securities to be allocated to the shareholders indicated in the shareholder lists submitted earlier.