OREANDA-NEWS. May 21, 2012. Rostelecom OJSC (MICEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its financial statements for the first quarter of 2012, under Russian Accounting Standards (“RAS”), have been made available on its website on: http://www.rostelecom.ru/ir/results_and_presentations/financials/RAS/detail.php?SECTION_ID=1096

The Company would like to draw the attention of investors, shareholders and other stakeholders to the following:

Rostelecom’s financial results under RAS for the first quarter of 2011 do not include any contribution from the seven regional telecom operators or OJSC Dagsvyazinform, which were merged with Rostelecom on April 1, 2011. The Company’s results under RAS for the first quarter of 2012 do however comprise of results from the combined Rostelecom, and therefore include contributions from the seven regional operators and from OJSC Dagsvyazinform, while excluding any contribution from the subsidiaries of Rostelecom OJSC and the regional companies, including NTK and mobile subsidiaries. Rostelecom’s balance sheet as at March 31, 2012, also comprises contributions from all of the companies merged into the new Rostelecom on April 1, 2011 but it excludes contributions from Rostelecom’s mobile subsidiaries and NTK. Direct like-for-like comparisons of the Company’s financial performance for the first quarters of 2011 and 2012 under RAS are therefore not possible.

Rostelecom intends to publish its consolidated financial results for the first quarter of 2012 under IFRS in June 2012. These results will include contributions from Rostelecom as well as the seven merged regional operators, OJSC Dagsvyazinform and their subsidiaries, including NTK and mobile subsidiaries.

Please use the following link to access Rostelecom’s consolidated results under IFRS for the years 2009 - 2011, the financial results for the first quarter of 2011, for the first six months of 2011 and for the nine months of 2011: http://www.rostelecom.ru/ir/results_and_presentations/financials/IFRS.