OREANDA-NEWS. July 28, 2010. The Board of Directors of OJSC VolgaTelecom decided to establish committees of the Company’s Board of Directors and approve members thereof.

The following persons have been elected to the Personnel and Remuneration Committee:

1. Chairman of the Committee: Denis Victorovich Kulikov, Executive Director of the Investors Protection Association

2. Victor Dmitrievich Savchenko, OJSC Svyazinvest Deputy General Director

3. Evgeny Valerievich Yurchenko, OJSC Svyazinvest General Director

The following persons have been elected to the Audit Committee:

1. Chairman of the Committee: Vladimir Anatolievich Statjin, General Director of the Non-Commercial Partnership “Association for Protection of Interests of Shareholders of Enterprises and Organizations”

2. Ekaterina Sergeevna Erofteeva, Executive Director and Chief of the Strategic Development Committee of OJSC Svyazinvest

3. Mikhail Ivanovich Kritsky, OJSC Svyazinvest Deputy General Director

4. Victor Dmitrievich Savchenko, OJSC Svyazinvest Deputy General Director

The following persons have been elected to the Strategic Development Committee:

1. Chairman of the Committee: Ekaterina Sergeevna Erofteeva, Executive Director and Chief of the Strategic Development Committee of OJSC Svyazinvest

2. Evgeny Valerievich Yurchenko, OJSC Svyazinvest General Director

3. Vladimir Fedorovich Ljulin, OJSC Svyazinvest Adviser General Director

4. Kirill Mikhailovich Bogachenko, KIT Fortis Investments (OJSC) Asset Manager

5. Vladimir Iljich Rybakin, OJSC VolgaTelecom General Director

6. Ravil Anvarovich Yusipov, Deputy General Director and Stock Exchange Transaction Manager of ZAO Management Company “TRANSFINGROUP”

The following persons have been elected to the Corporate Governance Committee:

1. Chairman of the Committee: Lyudmila Alexeevna Kormilitsina, head of division, Corporate Governance and Judicial Support Department of OJSC Svyazinvest

2. Alexey Alexandrovich Berezin, Principal Specialist of the Corporate Governance and Judicial Support Department of OJSC Svyazinvest

3. Andrey Vladimirovich Morozov, Legal Manager of the Moscow Representative Office of NCH Advisors, Inc.

4. Elena Valerievna Neverova, Deputy General Director for Corporate Governance of OJSC VolgaTelecom

5. Alexey Alexandrovich Nefedov, Deputy Chief of the Asset Management Department of the Non-Government Pension Fund “BLAGOSOSTOYANIE”

6. Natalia Ivanovna Pokrovskaya, OJSC VolgaTelecom Corporate Secretary.