2003/02/14 - Extraordinary General meeting of shareholders of OJSC North-West Telecom take place on february 14, 2003.

North-West Telecom Board of Directors meeting took place on December 10, 2002. The key issue on the agenda was the convocation of the Extraordinary General Meeting of Shareholders of OJSC North-West Telecom. The Board of Directors approved the date and agenda of the Meeting and other related issues.

The Extraordinary General Meeting of Shareholders was scheduled to be held at 13:00 p.m. on February 14, 2003 at the following address: Sinopskaya naberezhnaya 14, Saint-Petersburg, Russia. Shareholders registered as of December 16, 2002, have the right to participate in the Meeting.

The agenda of the Extraordinary General Meeting of Shareholders includes the following issues:

1.         Early termination of powers of Company’s Board of Directors, election of a new Board of Directors;

2.         Early termination of power of Company’s General Director, appointment of Company’s General Director;

3.         Early termination of powers of the Company’s Auditing Commission, election of the Company’s Auditing Commission;

4.         Approval of the new wording of the Company’s Charter;

5.         Approval of the new wording of provisions for the Company’s General Shareholders Meeting;

6.         Approval of the new wording of provisions for the Company’s Board of Directors;

7.         Approval of the new wording of provisions for the Company’s Managing Board;

8.         Remuneration and compensation to the members of the Board of Directors;

9.         Remuneration and compensation to the members of the Auditing Commission.

Detailed information and documents related to the Extraordinary General Meeting of Shareholders will be available to the shareholders of North-West Telecom after January 24, 2003. Some of these materials will be published on the Company’s web site https://www.nwtelecom.ru.