On June 23, 2008, the Board of Directors of North-West Telecom reviewed the member list and term of office of the Company’s Managing Board at its session.

Having reviewed the materials submitted for the session, the N.W.Telecom Board of Directors decided to appoint the following member list of the Company’s Managing Board:

• Oleg Viktorovich Popov – Deputy General Manager, Commercial Manager of OJSC N.W.Telecom;
• Oleg Anatolyevich Semanov – Deputy General Manager, Technical Manager of OJSC N.W.Telecom;
• Maya Mikhailovna Semchenko – Chief Accountant of OJSC N.W.Telecom;  
• Vitaly Evgenyevich Strizhkov – Regional Manager, Director of the Leningrad Oblast Branch of OJSC N.W.Telecom;
• Irina Vladimirovna Tambovskaya – Director of Human Resources Management Department of OJSC N.W.Telecom;  
• Ella Ivanovna Tomilina - Deputy General Manager for corporate relations of OJSC N.W.Telecom;
• Leonid Zigmundovich Tufrin - Regional Manager, Director of the Petersburg Branch of OJSC N.W.Telecom;
• Venera Adykhamovna Khusnutdinova – Deputy General Manager, Economics and Finance Manager of OJSC N.W.Telecom;   
• Grigory Borisovich Chernyak – Deputy General Manager in charge of property management and general issues of OJSC N.W.Telecom;   
• Vladimir Ivanovich Shumeyko – First Deputy General Manager of OJSC N.W.Telecom.  

In compliance with the Federal Law on Corporations and the Company’s Charter, the authority of Chairperson of the Managing Board was vested in Vladimir Akulich, General Manager of N.W.Telecom.

The Board of Directors of N.W.Telecom defined the term of office of the Managing Board to be from July 1, 2008 till July 31, 2009 inclusive.