OREANDA-NEWS. On 03 June 2009 was announced, that the Board of Directors of CenterTelecom adopted decisions at a meeting held on April 30, 2009 on the organization and the conduct of the company’s annual general meeting.

At the meeting, the telecom operator’s board members gave preliminary approval to the company’s annual report, reviewed annual accounting reports, including the P&L statement, the auditor’s report and that of the audit committee; approved recommendations on profit distribution, including the amount and the procedure for paying out dividends on the company’s shares.

In accordance with the board’s decision, CenterTelecom’s AGM was recommended:

1. To distribute the company’s 2008 profit as follows:

to allocate to dividend payouts Rub 646.37 mln, including:

- Rub 0.4915455 per Class A preferred share;

- Rub 0.2457683 per common share;

to allocate Rub 1,939,120.50 to lift the company’s equity capital.

2. To determine the procedure for paying out dividends to persons eligible for dividends as follows:

To pay out dividends in line with the dividend payment option specified in the application form of a registered person.

The Board of Directors also addressed the new draft editions of CenterTelecom’s charter and of the Statute “On the Board of Directors of the Company”. Board members proposed appointing KPMG as CenterTelecom’s auditor for 2009 and approved recommendations with regard to the amount of annual remuneration to be paid to board members. Moreover, approvals were given to the procedure for notifying CenterTelecom shareholders of annual general meetings, the list of information to be provided to shareholders, the form and the wording of ballot sheets.

The company’s BoD adopted decisions in view of recommendations made by the relevant committees attached to CenterTelecom’s Board of Directors.

The board also endorsed the following agenda for CenterTelecom’s AGM:

To approve the annual report, annual accounting statements, including the P&L statement, distribution of profit (including dividend payouts) and losses of the company for FY08.

To elect the company’s board members.

To elect members of the company’s audit committee.

To approve the company’s auditor for 2009.

To approve the new edition of the company’s charter.

To approve the new edition of the Statute “On the Board of Directors of the Company”.

To approve sums (in terms of percent) of allocations in order to calculate annual remuneration of the company’s board members.

CenterTelecom’s annual shareholders meeting will be held on June 6, 2009 at 11.00 am Moscow time at Renaissance Moscow Hotel, 18/1, Olimpiysky Prospect, Moscow. The registration of shareholders will begin at 9.00 am on June 6, 2009 at the place where the AGM is to be held. April 20, 2009 was set as the date for compiling the list of persons eligible to attend the AGM.

The mailing address to which completed ballot sheets may be submitted to be counted at CenterTelecom’s AGM is as follows: bldg. 2, 6 Degtyarny Per., GSP-3, 125993. The deadline for accepting ballot sheets is June 3, 2009, inclusive.