OREANDA-NEWS. July 12, 2012. The board of directors of Svyazinvest (hereafter, the Company) held a meeting of the board of directors on June 19, 2012.

The presiding authority at the meeting was Ivan Rodionov.

The board passed a resolution to convene the annual general meeting of shareholders (AGM) on July 11, 2012 at 3 p.m. at the following address: 55 Plyushikha St., bldg. 2, Moscow, with the following items on the agenda:

1. To elect members of the Company’s Accounting Committee;

2. To approve the Company’s annual financial statement;

3. To approve the Company’s annual accounting reports, including the profit and loss statement (profit and loss accounts);

4. To approve the Company’s allocation of profit based on the results of 2011;

5. On the amount, schedule and form of dividends based on the results of 2011;

6. On the amount of remuneration payable for work performed by members of the board of directors (supervisory council) who are not state civil servants in an amount to be established by the Company’s in-house documents;

7. To elect members of the Company’s board of directors (supervisory council);

8. To elect members of the Company’s audit committee (auditor);

9. To approve the Company’s auditor.

10. On compensation for expenses incurred in conjunction with the execution of duties as members of the Company’s board of directors.

The Company’s board of directors recommended that the annual meeting pass a resolution on the allocation of the Company’s net profit generated during fiscal 2011 as follows:

- dividend payout – RUR 3,334,122,363.92 (which is equal to 12.98% of net profit);

- to raise shareholder equity – RUR 22,360,080,703.39 which is equal to 87.02% of net profit);

In addition, the Company’s board of directors advised the annual general meeting to pay out dividends for fiscal 2011 in the amount of RUR 0.17082 per common share.

The board also instructed the Company’s management board to prepare proposals on financing the Target Capital Fund of the Skolkovo Institution of Science and Technology.

The board also examined other issues which are related to the Company’s internal activities.

The board of directors meeting was attended by the following persons:

• Mikhail Zadornov, president and chairman of the board of management of VTB24;

• Yury Kudimov, general director of Vnesheconombank Capital;

• Alexander Provotorov, chief executive of Rostelecom;

• Ivan Rodionov, professor of Higher School of Economics;

• Vadim Semenov, general director of Svyazinvest.