Moscow, January 27, 2011. CenterTelecom OJSC reports that on January 25 it held a meeting of expanded management board. The meeting was conducted in Yaroslavl. The members of the management board including Vaagn Martirosyan, General Director, CenterTelecom, Vice President, Rostelecom OJSC, chiefs of the company's general directorate's departments and regional branches, were summing up the results of the company's financial and business results for 4Q and 12M of 2010.

Among CenterTelecom's managers who presented reports on the company's financial and business results for 2010 and its outlook for 2011 were Ruslan Dolgushin, Deputy General Director, Commercial Director; Alexei Kamyshev, Deputy General Director, Financial Director; Vadim Kondratov, Deputy General Director, Technical Director; Konstantin Zverev, Deputy General Director, IT Director; Evgeny Stepanov, Deputy General Director, HR Director; Sergei Khanenkov, Deputy Commercial Director, Director of Strategic Business Development and Marketing.

According to Vaagn Martirosyan 2010 was a successful year for the company. Owing to its great efforts CenterTelecom took up a leading position among operators providing broadband Internet access in Central Russia. The company considerably improved its sales and maintenance system and also provided good salaries for its employees. "However all this is not an excuse for relaxing; by 2015 the company's management plans to double the level of working efficiency and consequently to increase in the level of average salary for its employees," he added.

The meeting in Yaroslavl was the last CenterTelecom's meeting for summing up of annual results; in the near future the company will merge with Rostelecom.

Yaroslavl was selected for holding of the meeting due to two anniversaries of 2010: the city of Yaroslavl's 1000^th anniversary and 150^th anniversary of Yaroslavl telecommunications system. Moreover prior to CenterTelecom's reorganization the Yaroslavl branch was formed on basis of interregional Upper Volga branch founded in 2005 for provision of telecommunications services in Ivanovo, Kostroma and Yaroslavl regions.

During his trip to Yaroslavl Vaagn Martirosyan visited CenterTelecom's Sales and Maintenance Office in Yaroslavl branch and a number of Rostelecom's facilities in the region.