OREANDA-NEWS. July 17, 2007.  The Board of Directors of OJSC CenterTelecom (RTS: ESMO, ESMOP; MICEX: CTLK, CTLKP; U.S. OTC: CRMUY), the leading provider of fixed-line telecommunications services in the Central Federal District of Russia, meeting on July 9, discussed the creation of a number of Board committees and agreed on the composition of the Management Board.
 
In accordance with the Board decision, the following Committees were established:
 
Audit Committee, consisting of:
Aleksandr Shevchuk – Committee Chairman, independent member of the Board of Directors;
Elena Selvich – Committee Member, non-executive member of the Board of Directors;
Mihail Alekseev – Committee Member, independent member of the Board of Directors.
 
HR and Remuneration Committee, consisting of:
Nikolay Arutyunov - Committee Chairman, independent member of the Board of Directors;
Viktor Savchenko – Committee Member, non-executive member of the Board of Directors;
Maksim Cyganov – Committee Chairman, independent member of the Board of Directors.
 
Strategic Development Committee, consisting of:
Elena Selvich – Committee Chairman, non-executive member of the Board of Directors;
Vaagn Martirosyan – Committee Member;
Ekaterina Erofteeva – Committee Member, non-executive member of the Board of Directors;
Maksim TSyganov – Committee Member, independent member of the Board of Directors;
Nikolay Arutyunov - Committee Member, independent member of the Board of Directors.
 
Corporate Governance Committee, consisting of:
Oksana Petrova – Committee Chairman, non-executive member of the Board of Directors;
Aleksandr Shevchuk - Committee Member, independent member of the Board of Directors;
Sergey Grushin – Committee Member.
 
Also in accordance with a decision of the Board of Directors, early termination of powers was applied to members of the Management Board Sergey Nazarov and Dmitry Karmanov who recently left CenterTelecom for new positions.
 
As  CenterTelecom's Board term of office expires on August 1, 2007, the Board of Directors will consider the formation of a new Management Board in July 2007.