OREANDA-NEWS. Open Joint Stock Company “MegaFon” (LSE: MFON), a leading Russian universal telecommunications operator (“MegaFon” or the “Company”), announces that the following resolutions were adopted at the Annual General Meeting (“AGM”) of shareholders held on 30 June 2014 in Moscow:

Approval of the 2013 Annual Report of the Company.

Approval of the Annual Accounting Statements for 2013, including Profit & Loss Statements (Profit & Loss Accounts) of the Company.

Distribution of profit, including payment (declaration) of dividends, and losses of the Company based on 2013 financial year results, and also definition of the amount of dividends per share, and the methods and procedures for payment. The Net Profit of the Company realized in the 2013 financial year and available for the payment of dividends amounted to 39,996,200,000 rubles. The shareholders approved the payment of a dividend in the amount of 64.51 rubles per ordinary share to holders of record as of the approved record date of July 11, 2014. Payment of the dividends will be made in rubles simultaneously to all holders of ordinary shares of the Company.

Election of the Board of Directors of the Company. The following persons were elected to the Board by the shareholders of the Company:

Berndt Kenneth Karlberg;

Sergey Aleksandrovich Kulikov;

Carl Peter Christian Luiga;

Lord Paul Myners;

Jan Erik Rudberg;

Sergey Vladimirovich Soldatenkov;

Vladimir Yakovlevich Streshinsky.

Approval of the size of the Management Board of the Company (17 persons) and election of the Management Board of the Company. The following persons were elected to the Management Board by the shareholders of the Company:

Ivan Vladimirovich Tavrin;

Alexander Vladimirovich Bashmakov;

Anait Grigorievna Gasparyan;

Mikhail Andreevich Dubin;

Gevork Arutyunovich Vermishyan;

Vlad Volfson;

Dmitry Leonovich Kononov;

Anna Andreevna Serebryanikova;

Evgeniy Nikolaevich Chermashentsev;

Valery Leonidovich Velichko;

Aleksandr Sergeevich Grigoriev;

Pavel Viktorovich Korchagin;

Andrey Borisovich Levykin;

Konstantin Michailovich Likhodedov;

Alexei Borisovich Semenov;

Aleksey Leonidovich Tyutin;

Stanislav Alexandrovich Frolov.

Approval of the Company's Auditor. Ernst & Young LLC was approved as the Company's independent auditor.

Election of the Revision Commission of the Company. The following persons were elected to the Revision Commission of the Company:

Yuri Antonovich Zheimo;

Pavel Sergeevich Kaplun;

Sami Petteri Haavisto.

Determination of the amount of remuneration and/or compensation of expenses for those members of the Company's Board who did not receive reimbursement during the year, based on the 2013 financial year results.