OREANDA-NEWS. Open Joint Stock Company "MegaFon" ("MegaFon", or the "Company") (LSE: MFON), a leading Russian universal telecommunications operator, announces that the Company's Board of Directors, at a meeting held by absentee voting earlier, took the following actions:

To elect Mr. Sergey Soldatenkov as Chairman of the Board of Directors.

To appoint Mrs. Elena Breeva as the Company's Corporate Secretary for the term ending on the date of the first Board meeting after the Annual General Shareholders Meeting in 2015.

To re-constitute the following committees of the Company's Board of Directors:

Audit Committee;

Finance and Strategy Committee;

Remuneration and HR Development Committee.

To elect Mr. Jan Erik Rudberg as Chairman and Mr. Berndt Kenneth Karlberg and Mr. Sergey Soldatenkov as members of the Audit Committee.

To elect Mr. Vladimir Streshinsky as Chairman, Mr. Sergey Kulikov and Mr. Carl Peter Christian Luiga as members of the Finance and Strategy Committee.

To elect Lord Paul Myners as Chairman, Mr. Soldatenkov and Mr. Streshinsky as members of the Remuneration and HR Development Committee.

To confirm that Mr. Jan Erik Rudberg and Lord Paul Myners are independent members of the Board of Directors.