OREANDA-NEWS. February 15, 2011. OJSC VolgaTelecom’s Board of directors by the majority of votes has made the decision to convene extraordinary general meeting of shareholders and set:

- the form of holding extraordinary general meeting of shareholders – absentee voting;

- the end date of accepting the voting ballots – March 23, 2011;

- mailing address where the filled in ballots are to be sent – OJSC ORK, P.O.Box 151, Moscow, 115280;

- the date of drawing up the list of entities/individuals entitled to participate in extraordinary general meeting of the Company’s shareholders is February 15, 2011.

Also the Board of directors has approved the following agenda of extraordinary general meeting of shareholders:

1. On introduction of modifications in Regulations for the Board of directors of Open Joint Stock Company VolgaTelecom (OJSC VolgaTelecom).

2. On annual remuneration to the members of OJSC VolgaTelecom’s Board of directors who perform their functions after annual general meeting of shareholders held on June 21, 2010.