The Board of Directors of joint stock company Central Telegraph passed a resolution on July 1, 2002 to hold an extraordinary general shareholders meeting of OJSC Central Telegraph.   

The extraordinary shareholders meeting will be conducted in accordance with requirements of the Russian Federal Property Fund with joint attendance by shareholders on September 3, 2002 at 2 o'clock p.m. at the following address: 125375 Moscow, ul. Tverskaya, d. 7.  Registration for shareholders is scheduled to begin at 12.00. 

The following issues are on the agenda:  

1.      Premature resignation of members of the Company's Board of Directors;

2.      Appointment of new members of the Board of Directors of the Company. 

The list of individuals eligible to attend the extraordinary general shareholders meeting was compiled based on the shareholders' roster as of July 2, 2002.. The right to vote on issues raised at the EGM is available to Company shareholders. 

Eligible shareholders (or their proxies) should exercise their voting rights by sending completed ballot sheets to the following address: 125375, Moscow, ul. Tverskaya, d. 7.