OREANDA-NEWS. August 24, 2010. CenterTelecom held a meeting of the Board of Directors, at which issues were discussed relating to the preparations for an extraordinary general shareholders meeting to be held (hereinafter, EGM).

The Board of Directors of CenterTelecom adopted the following decisions:

- to convene an extraordinary general shareholders meeting to be held by way of absentee voting.

- to determine:

- the form in which the extraordinary general shareholders meeting – absentee voting;

- deadline for accepting ballot sheets – November 8, 2010;

- addresses to which completed ballot sheets should be mailed: 6 Degtyarny per. bld. 2, Moscow GSP-2;

- the record date for the list of persons eligible to attend the extraordinary general shareholders meeting – September 20, 2010.

The Board of Directors of CenterTelecom approved the agenda of the EGM, which includes the following issues:

On the Company’s payout of 9M 2010 dividends;

On amending the Statute on the Board of Directors of the Company;

On the annual compensation payable to members of the Board of Directors of the Company which perform their duties after the annual general shareholders meeting held on June 25, 201.

Also, the Board of Directors of CenterTelecom recommended the amount of dividends to be paid out on 9M 2010 and approved the agenda of the EGM. The Board of Directors of CenterTelecom passed a resolution to recommend the extraordinary general shareholders meeting to pay out 9M 2010 dividends in the following amounts:

- 0.0000000209802046 % of the Company’s 9M 2010 net profit per one class A preferred share;

- 0.0000000095579889 % of the Company’s 9M 2010 net profit per one common share.

- in accordance with the procedure for notification of how to receive dividends which are provided to persons listed in the shareholders register of the Company as of September 20, 2010.

During the Board of Directors meeting CenterTelecom also examined other issues associated with the preparation and conduct of the extraordinary general shareholders meeting.

Notification that the EGM is to be held will be published no later than October 8, 2010.  Materials for the extraordinary general shareholders meeting will be posted on CenterTelecom’s corporate website in the section “Disclosure of information” (in Russian) as of October 8, 2010.