OREANDA-NEWS. November 29, 2010. The Board of Directors of VolgaTelecom passed a resolution by a majority of votes to convene an extraordinary general meeting of shareholders (EGM) and determined:

- the date on which the extraordinary general meeting of shareholders is to be held as January 20, 2011;

- the place where the extraordinary general meeting of shareholders is to be held: Telecommunications Hall, M. Gorky Square, Russian Federation, Nizhny Novgorod, 603000;

- starting time for the extraordinary general meeting of shareholders: 10 o’clock a.m. (local time) on January 20, 2011;

- starting time for the registration of persons that participate in the extraordinary general meeting of shareholders, 8 a.m. (local time) on January 20, 2011;

- mailing address to which completed ballot sheets should be sent:

Telecommunications Hall, M. Gorky Square, Russian Federation, Nizhny Novgorod, 603000;

Post office box 151, on behalf of ORK, Moscow, 115280.

- the record date for persons eligible to attend the extraordinary general meeting of shareholders is to be set as October 27, 2010.

In addition, the Board of Directors, pursuant to a request by a shareholder which owns more than 10% of the voting shares of the Company, approved the following agenda for the EGM:

On premature termination of the powers of members of the Board of Directors of VolgaTelecom.

On election of members of the Board of Directors of VolgaTelecom. 

The shareholders or a shareholder which own(s) in aggregate at least 2% of the voting shares of the Company are entitled to propose their nominees for appointment to the Board of Directors, the number of which may not exceed that of its current lineup.  Proposals should reach the Company no later than 30 days prior to the date on which an extraordinary general meeting of shareholders is held.