OREANDA-NEWS. Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reports that on May 15, 2007 the Company’s Board of Directors approved the agenda of the annual General Shareholders Meeting to be held on June 26, 2007.

The Board of Directors of "UTK" PJSC decided to include the following items into the agenda of the annual General Shareholders Meeting:

• Approval of annual report, annual financial statements including profit and loss statement (profit and loss accounts) and distribution of profits (including dividend payment) and losses on the basis of the reported fiscal year 2006 financial results.
• Election of the members to the Company’s Board of Directors.
• Election of the members to the Company’s Auditing Commission.
• Appointment of the Company’s Auditor for the year 2007.
• Determination of the size of annual remuneration to be paid to the members of the Board of Directors.
• Introduction of amendments and additions to the Company’s Charter.
• Introduction of amendments and additions to the Company’s Regulations on the procedure for conducting a General Shareholders’ Meeting.
• Introduction of amendments and additions to the Company’s Statute on the Board of Directors.
• Reorganization of "Southern Telecommunications Company" PJSC through merger of OJSC “Kuzminov Stavtelecom” into it. Approval of the Agreement of merger.


The Board of Directors of "UTK" PJSC recommended to the annual General Shareholders Meeting to approve annual report, annual financial statements including profit and loss statement on the basis of fiscal year 2006 financial results.