On 15th April 2004, an Extraordinary General Shareholders Meeting of North-West Telecom JSC took place.   The meeting was held in the form of joint attendance by the shareholders of the Company . The following decisions were taken on the basis of the voting results:    

I. The Open Joint-Stock Company North-West Telecom shall be reorganized in the form of affiliation of Open Joint-Stock Company Lensvyaz and Open Joint-Stock Company Svyaz of the Republic of Komi with the Open Joint-Stock Company North-West Telecom . The Agreement of Affiliation of Open Joint-Stock Company Lensvyaz and Open Joint-Stock Company Svyaz of the Republic of Komi with the Open Joint-Stock Company North-West Telecom shall be approved.

VOTING RESULTS:

AYE - 99.55% of votes of those who have taken part in the meeting

AGAINST - 0.12% of votes of those who have taken part in the meeting

ABSTAINING - 0.12% of votes of those who have taken part in the meeting

II. It shall be established that:  

1. The Company is entitled to float, in addition to the floated common shares, 145 134 309 (one hundred forty five million one hundred thirty four thousand three hundred nine) common registered non-documentary shares ( stated shares ). The face value of each stated common share shall be 1 (one) rouble.  

The Company is entitled to float, in addition to the floated preferred shares, type ?, 48 379 035 (forty eight million three hundred seventy nine thousand thirty five) preferred registered non-documentary shares, type ? ( stated shares ).   The face value of each stated preferred share, type A, shall be 1 (one) rouble.  

In case of their floatation, the said stated shares will have all the rights established by articles 7 and 8 of the Articles of Association for Company’s shares of the respective category (type).         

2. Respective amendments and additions shall be introduced into the Company’s Articles of Association.  

VOTING RESULTS:

AYE - 99.20% of votes of those who have taken part in the meeting

AGAINST - 0.04% of votes of those who have taken part in the meeting

ABSTAINING - 0.06% of votes of those who have taken part in the meeting

III. The participation of the Company in the Association of Telecommunication Operators of the North-Western Region of RF shall be terminated.

VOTING RESULTS:

AYE - 99.28% of votes of those who have taken part in the meeting

AGAINST - 0.15% of votes of those who have taken part in the meeting

ABSTAINING - 0.43% of votes of those who have taken part in the meeting.