OJSC Elektrosvyaz, Ryazan region held an extraordinary shareholders' meeting on February 19, 2002.   

The main item on the agenda was whether to approve the merger of OJSC Elektrosvyaz, Ryazan region with the Central Telecommunications Company.  The EGM also passed a motion to adopt the Merger Agreement merger between OJSC Elektrosvyaz, Ryazan region and the Central Telecommunications Company, and the Transfer Act.  

The voting results were as follows: 98.6% for, 0.2% against and 0.23% abstained. 

Shareholders who voted against the merger or failed to show up for the voting are entitled to request a share buyback from the Company at the price of Rub 4.85 per common share and Rub 5.01 per preferred share.  The swap ratio stands at 4.5455000014.