The Board of Directors of OJSC Nizhegorodsvyazinform has set June 28, 2002 as the date for holding its annual general shareholders meeting.  The meeting will be held at 10 a.m. at the following address: Nizhny Novgorod, pl. M. Gorkogo, Telecommunications Building, Main Conference Hall.

The cut-off date for the list of shareholders eligible to attend the annual shareholders meeting is May 9, 2002.  The items on the agenda of the AGM are as follows:

·         approval of the annual financial reports, including the Profit and Loss statement, profit allocation (including dividends) and losses incurred during the past (2001) fiscal year;

·         payment of 2001 dividends including the forms and deadlines for paying out dividends on all types of stocks and shares;

·         electing members of the Board of Directors;

·         electing members the Audit Committee;

·         approving the new version of the Company Charter;

·         approving the new version of the Rules for holding the Annual General Shareholders Meeting;

·         approving the new version of the Rules for the Board of Directors;

·         approving the new version of the Rules for the Board of Management;

·         approving the new version of the Rules for the Audit Committee;

·         approving the Company's 2002 auditor;

·         on the Company's participation in Iskra (Association of Federal Network Operators for Business Service)