OREANDA-NEWS. May 17, 2007. The meeting of the Board of Directors was held in the form of the presence of the shareholders, where the following decisions concerning the items of the annual general meeting, scheduled for June 25, 2007 were taken:

The annual report of the Company for the year 2006 was preliminary approved.


The following was recommended to the general meeting of the shareholders:
To approve the annual report, the annual accounting statements, including the Income Statement of the Company for the fiscal year 2006, to allocate the income of the Company according to the results of the 2006 financial year in the following way:
• for the payment of dividends 327,595,905 rubles, including:
• on preference shares 0,031515 rubles per each share;
• on common shares 0,017019 rubles per each share.
• for the increase of the equity capital of the Company 926 722 291 rubles.
To pay out dividends on preference and common shares in monetary form. To make payments according to the method indicated in the form of the registered person (by bank transfer, postal order or in cash in cash desks of the Company). To pay dividends to legal entities only by bank transfer. Transfer costs are to be covered by the shareholders.


To determine the following rates (per cents) of assignments for the calculation of the annual remuneration of the members of the Board of Directors, selected at an annual general meeting:
• 0,26 % (zero point twenty six per cent) of EBITDA of the Company according to the data of financial
• statements on IFRS for 2007;
• 0,78 % (zero point seventy eight per cent) of the net profit amount of the Company, allocated for the
• payment of dividends following the results of 2007.
To approve KPMG OJSC as the auditor of the Company for 2007.
To approve the form and the text of the voting bulletins at the general meeting of the shareholders of Sibirtelecom OJSC.
To make alterations and additions to the Bylaws and the Regulations of the Board of Directors of Sibirtelecom OJSC.
The audit report on accounting of Sibirtelecom OJSC for 2006, the report of the Audit Committee of Sibirtelecom OJSC on the results of the audit of the Company's finance and economic activity, the annual financial statements of the Company and reliability of the data, contained in the annual report of the Company and annual financial statements for 2006 have been taken into consideration.
Indices of the financial statements of the Company, suggested for the approval by the annual general meeting, have been corrected in accordance with the earlier published unaudited financial statements. The changes in the financial results do not exceed 10% of the earlier stated ones.
The audited financial statements will be placed on www.sibirtelecom.ru and provided to the interested parties before May 15, 2007.