OREANDA-NEWS. On May 23, 2007 “COMSTAR - United TeleSystems” JSC (“Comstar”) (LSE: CMST announced that the Board of Directors (the “Board”) set the date for the Company’s Annual General Meeting of Shareholders (“AGM”) for June 27, 2007, reported the press-centre of COMSTAR.


The Board recommended an annual dividend of approximately RUR 62,7 million, or approximately US$ 2,4 million, for the twelve months ended December 31, 2006 to holders of Comstar shares as at the record date of May 17, 2007.  The dividend, which amounts to a payment of RUR 0,15 per ordinary share, or approximately US$ 0,0058 per Global Depositary Receipt (“GDR”), is due to be paid within 60 days of the approval by the AGM. In addition, the Board recommended the AGM to elect new members to the Board of Directors and the Internal Audit Commission of Comstar as well as approve an independent auditor for 2007.


The AGM will also consider amendments to the Charter, the bylaws regarding the Shareholder Meeting, Board of Directors and Compensation policy for the members of the Board, as well as the introduction of the bylaws on the Management Board, President and Internal Audit Commission. Further information with regard to the AGM and other related issues will be distributed on May 25, 2007 through an official notice to Comstar’s shareholders and will also be available on the Company’s web site http://www.comstar-uts.ru/.