OJSC Elektrosvyaz Kaluga Region held its Annual General Shareholders Meeting on June 20, 2002.  

Resolutions were passed to approve the annual financial statement, the accounting reports, including the profit and loss statement, allocation of profits and losses on results of the 2001 fiscal year. 

The amount of dividends to be paid out for 2001 was approved.  A resolution was passed to pay out Rub 1,644 on common shares until the end of the financial year. A resolution was passed to pay out Rub 4,931 on preferred shares no later than August 19, 2002.  

The following seven appointments were made to the Board of Directors: 

-         Svetlana V. Baikova - leading specialist of the Corporate Governance Department of OJSC Svyazinvest;

-         Nikolai I. Galevko - technical director of OJSC Elektrosvyaz Kaluga Region;

-         Alla B. Grigoryeva - vice director of department / head of corporate governance department of OJSC Svyazinvest;

-         Anatoly A. Ivanov - chairman of supervisory board of OJSC Gazenergobank, Kaluga;

-         Vladislav M. Ledkov - director general of OJSC Elektrosvyaz, Kaluga Region;

-         Petr N. Martyshechkin - vice director general / head of telecom and broadcasting department of OJSC Svyazinvest;

-         Irina V. Nazarova - leading specialist of corporate governance department of OJSC Svyazinvest. 

The newly appointed Board of Directors held its first meeting after the end of the Annual General Shareholders Meeting of OJSC Elektrosvyaz Kaluga Region at which Alla B. Grigoryeva was elected chairman of the Board of Directors and Vladislav M. Ledkov was appointed vice chairman of the Board of Directors. 

The Annual General Shareholders Meeting also appointed the company's Audit Committee, approved the revised versions of the Company Charter, the Rules for Holding Annual General Shareholders Meetings, Rules for the Board of Directors, Rules for the Supervisory Board.  OOO Audit and Consulting Company was appointed as the company's official 2002 auditor.