OREANDA-NEWS. February 17, 2011.  A session of the Board of Directors was held to review the issue of convening an extraordinary general meeting of the North-West Telecom’s shareholders (hereafter “EGM.”)

The Board of Directors’ session was convened on the basis of a request by the major shareholder JSC Svyazinvest received by N.W.Telecom.*

North-West Telecom’s Board of Directors decided to:

-   Convene an extraordinary general meeting of the shareholders of N.W.Telecom.
-   Define:
the format of the extraordinary general meeting of the shareholders, as absentee voting,
deadline of receipt of ballots, as March 24, 2011,
postal address for sending the filled-in ballots, as 191186, St. Petersburg, 14/26 Gorokhovaya Street (26 Bolshaya Morskaya Street),
record date is February 16th, 2011.


The N.W.Telecom Board of Directors approved the following agenda of the extraordinary general meeting of the shareholders:

1.    Amendments to the Provisions on the Board of Directors of N.W.Telecom.
2.    Annual reward to members of the N.W.Telecom Board of Directors performing their functions after the annual general meeting of the shareholders of 19.06.2010, with the draft resolution as follows:

“Approve the rate (percentage) of deductions for calculation of the annual reward to members of the N.W.Telecom Board of Directors performing their functions after the annual general meeting of the shareholders of 19.06.2010 as 0.41% of OIBDA according to the Russian accounting standards of N.W.Telecom based on the results of the fiscal year 2010”.

The materials for the extraordinary meeting of the shareholders will be published on the N.W.Telecom corporate website, in the Investors and Shareholders section, within March 3, 2011.