Moscow – March 17, 2010 – Rostelecom (RTS, MICEX: RTKM, RTKMP; OTCQX: ROSYY) today announced the decision of its Board of directors following the absentee voting results.

The Board of Directors has decided to include in the list of candidates for the Company’s Board of Directors for election at the Annual General Shareholders’ Meeting after 2009 year results, the following individuals:

As proposed by Svyazinvest:

1. Yevgeny Yurchenko, General Director of Svyazinvest;

2. Alexander Provotorov, First Deputy General Director of Svyazinvest;

3. Alexey Lokotkov, Deputy General Director of Svyazinvest;

4. Yelena Umnova, Deputy General Director of Svyazinvest;

5. Viktor Savchenko, Deputy General Director of Svyazinvest;

6. Vladimir Bondarik, Deputy General Director of Svyazinvest;

7. Sergei Kuznetsov, Member of Independent Directors’ National Register of the Russian Union of Industrialists and Entrepreneurs;

8. Mikhail Leshchenko, Deputy General Director of Svyazinvest;

9. Valentina Veremyanina, Director of Corporate Governance and Legal Department of Svyazinvest;

10. Konstantin Malofeev, Managing Partner of MarCap Advisors Limited;

11. Ivan Rodionov, Professor of State University Higher School of Economics.

As proposed by the Russian Deposit Insurance Agency (RDIA):

1. Valery Miroshnikov, First Deputy General Director of RDIA;

2. Marina Zinovina, Deputy General Director of RDIA;

3. Larisa Kudryakova, Deputy Director of Asset Management Department of RDIA.

As proposed by Vnesheconombank (VEB):

1. Anatoly Tikhonov, Management Board member, First Deputy Chairman of Vnesheconombank;

2. Anatoly Ballo, Management Board member, Deputy Chairman of Vnesheconombank;

3. Mikhail Poluboyarinov, Director of Infrastructure Department of Vnesheconombank;

4. Yury Surkov, Deputy Director of Infrastructure Department of Vnesheconombank;

5. Yury Kudimov, General Director of VEB Capital Ltd.

According to Rostelecom’s Charter the Board of Directors consists of 11 members.

Rostelecom’s Board of Directors also decided to include the following individuals to the list of candidates to the Audit Commission of the Company.

As proposed by Svyazinvest:

1. Olga Koroleva, Chief Accountant of Svyazinvest;

2. Bogdan Golubitsky, Director of Economics and Finance Department of Svyazinvest;

3. Mikhail Batmanov, Deputy Director of Corporate Governance and Legal Department of Svyazinvest;

4. Svetlana Bocharova, Head of Division of Accounting, Tax and Statistics Department of Svyazinvest;

5. Alexei Maltsev, Deputy Director of Strategic Development Department of Svyazinvest.

As proposed by Vnesheconombank (VEB):

1. Vyacheslav Ulupov, Director of Internal Control Service of Vnesheconombank;

2. Georgy Chicherin, Head of Transport Management Group of Infrastructure Department of Vnesheconombank.

According to Rostelecom’s Charter the Audit Commission consists of 5 members.