OREANDA-NEWS. The annual general meeting of the shareholders of North-West Telecom JSC took place. The meeting was held in the form of joint attendance of the shareholders of the Company.

The annual report of the Company, annual accounts, including the profit and loss report (profit and loss account) of the Company, as well as distribution of profit (including dividend payment) and losses of the Company based on the results of the fiscal year under report (2006) were approved by the shareholders in compliance with the agenda of the meeting.  

The meeting of the shareholders took a decision to pay the dividends on the basis of the results of North-West Telecom 's operation in 2006:   
RUR 0,858 per one preferred share;
RUR 0,357 per one ordinary share.

The dividend will be paid in the monetary form under ordinary and preferred shares within the period from 15th August till 15th December 2007.

According to the voting results, the following members of the Board of Directors of North-West Telecom JSC were elected:   
Vladimir A. Akulich - Chief Executive officer of NWT JSC;
Mikhail A. Alexeyev - Representative of Svyazinvest JSC;
Sergey A. Bulancha - Deputy Head of the Federal Communication Agency;
Alexandr A. Gogol - Rector of Prof. M.A. Bonch-Bruyevich Saint Petersburg State University of Telecommunications;
Vladimir B. Zhelonkin - Deputy General Manager of Svyazinvest JSC;
Ivan A. Zolochevsky - Director of the branch North-West Macro Region of MTS JSC;
Alexandr N. Kiselyov - Chief Executive officer of Svyazinvest JSC;
Olga G. Korolyova - Chief Accountant of Svyazinvest JSC;
Alexandr Ye. Krupnov - President of the Union of Participant s of the Information and Communication Services Union;
Dmitry V. Levkovsky - Consultant of the Moscow representative office of NCH Advisors Inc.;
Ivan I. Rodionov - Professor of GU Higher School of Economics.

The Auditing Committee with the following members was elected:


Ruslan K. Aksyaitov - Deputy Chief Accountant, Division Head of the Accounting, Tax and Statistical Records Department of Svyazinvest JSC;
Natalya Yu. Belyakova - Deputy Director of the Economics and Finance Department of Svyazinvest JSC;
Svetlana N. Bocharova - Division Head of the Accounting, Tax and Statistical Records Department of Svyazinvest JSC;
Natalya S. Vorobyova - Division Head of the Strategic Development Department of Svyazinvest JSC;
Sergey N. Kosarev - Division Head of the Strategic Development Department of Svyazinvest JSC;
Alexandr I. Tkachyov - Chief Specialist of the Security Department of Svyazinvest JSC;
Kirill V. Frolov - Head of the Internal Audit Department of Svyazinvest JSC.

Ernst and Young LLC was approved as the Company's auditor for the year 2007.

Respective decisions of the meeting of the shareholders approved new versions of the Company 's Charter, Provision s on the Board of Directors and Provision s on the General Meeting of the Shareholders of North-West Telecom JSC. The standard of deduction s for the calculation of the annual remuneration of the members of the Company's Board of Directors elected by the decision of the annual general meeting of the shareholders of NWT JSC of 22.06.07 was set .  

Commenting on the decisions of the Annual General Meeting of the Shareholders, Vladimir Akulich, Chief Executive officer of North-West Telecom JSC, noted: "The shareholders have approved the results of the year 2006, which has been successful for us, have established the amount of the dividend, elected the auditor of the Company and new members of the Board of Directors and Audit Committee. The work of the Board of Directors of NWT JSC has always been very efficient, which is mentioned by all independent experts. We would like to thank the members of the Board of Directors of the year 2006 for their useful work and we are sure that the new members of the Board of Directors will continue the constructive dialogue between the management and the Board of Directors, that we have had, which will make it possible for us to ensure long-term investment attractiveness of North-West Telecom JSC".