Moscow, Russia – November 2, 2011 – Rostelecom OJSC (MICEX & RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that its financial statements for the nine months of 2011 under Russian Accounting Standards (RAS) have been made available on its website on https://old.rt.ru/centr-invest/financial/RAS/.

The Company would like to draw the attention of investors, shareholders and other stakeholders to the following:

Rostelecom’s financial results under RAS for the first quarter of 2011 do not include any contribution from the seven regional telecom operators or OJSC Dagsvyazinform, which were merged with Rostelecom on April 1, 2011. The Company’s results under RAS for the second and for the third quarters of 2011 do however comprise the results of the new combined Rostelecom, and therefore include the contributions from the seven regional operators and OJSC Dagsvyazinform, while excluding any contribution from the subsidiaries of Rostelecom OJSC and the regional companies, which is in line with RAS. Rostelecom’s balance sheet as at September 30, 2011, comprises the contributions from all of the companies merged into the new Rostelecom.

A like-for-like comparison of the Company’s financial performance under RAS is therefore not available, as Rostelecom’s financial results under RAS for the nine months of 2010 do not include any contribution from the seven regional operators or OJSC Dagsvyazinform.

Rostelecom intends to publish its consolidated financial results for the nine months of 2011 under IFRS in December 2011. These results will comprise the contributions from Rostelecom as well as the seven merged regional operators, OJSC Dagsvyazinform and their subsidiaries.

Please use the following link to access Rostelecom’s combined and consolidated results under IFRS for the years 2008 - 2010, the financial results for the first quarter of 2011, and for the first six months of 2011: https://old.rt.ru/en/centr-invest/financial/IFRS/detail.php?SECTION_ID=10.