In accordance with the Resolution[1]of the Russian Ministry of anti-monopoly policy and support of entrepreneurship (Anti-Monopoly Ministry) Rostelecom will raise its peak-hours (from 8 am until 8 pm) domestic long-distance tariffs for budget-funded organizations in Moscow by 20% on average. 

This decision is another step aimed at liquidation of one of the cross-subsidy forms in the Russian telecommunications sector – when revenues from one group of subscribers (commercial companies, in this case) are used to subsidize another group of subscribers (budget-funded organizations).   

This step will allow Rostelecom to pursue a more flexible tariff policy in the Moscow telecommunications market in the future.

Certain statements in this press-release are “forward-looking statements” within the meaning of the U.S. federal securities laws and are intended to be covered by the safe harbors created thereby.

These forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. 

These risks include the risk of changes the Company’s operations and business prospects, the general financial and economic circumstances,  relating to regulation of the Russian telecommunications industry and the Russian legislation; the competition and other risks.

For a more detailed discussion of these and other factors, see the Company’s Annual Report on Form 20-F for its most recently completed fiscal year and the Company’s other public filings with The U.S. Securities and Exchange Commission.  Many of these factors are beyond the Company’s ability to control or predict.  Given these and other uncertainties, the Company  cautions not to place undue reliance on any of the forward-looking statements contained herein or otherwise. 

The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as maybe required under applicable the U.S. federal securities laws.

For further details please contact 

Dmitry Chukseyev Head of PR Department of OJSC "Rostelecom" Tel.: (095) 973-99-73 Fax.: (095) 973-99-77 E-mail: chukseyev@hq.rt.ru

Kirill Alyavdin The press-secretary of OJSC "Rostelecom" Tel.: (095) 972-82-83*11-61; 8-501-412-11-61 Fax.: (095) 973-99-77 E-mail: alyavdin@hq.rt.r