On February 02, 2011 the Board of Directors of N.W.Telecom decided to establish Committees of the Board of Directors and to elect the chairpersons and members of the Committees of the Board of Directors as follows:

Strategic Development Committee:

Chairperson:

Mikhail A. Leschenko – Member of the Board of Directors, Deputy General Director, Svyazinvest JSC.

Members of the Committee:

Vladimir A. Akulich   - Chief Executive Officer, JSC N.W.Telecom;

Mikhail A. Vasiliev – Director, NCH Advisors Inc, St.Petersburg branch;

Alexey A. Malysh  - Member of the Board of Directors , Director of the Electrical Communications Department, Svyazinvest JSC;

Vadim V. Semyonov – Chairperson of the Board of Directors, Chief Executive officer, Svyazinvest JSC.

Auditing Committee:

Chairperson:

Dmitry V. Levkovsky  - Member of the Board of Directors, Corporate Governance Manager of the Moscow office of NCH Advisors, Inc.

Members of the Committee:

Ivan I. Rodionov - Member of the Board of Directors, Professor of the Corporate Economy & Finance Chair, Higher School of Economics State University;

Georgy A. Romsky  - Member of the Board of Directors, Advisor to General Manager, JSC Svyazinvest.

Appointments and Remunerations Committee:

Chairperson:

Andrey V. Morozov – Member of the Board of Directors, Head of the Legal Department, Moscow Representative Office, NCH Advisors, Inc.

Members of the Committee:

Valentina F. Veremyanina   - Member of the Board of Directors, Executive Director, Director of the Corporate Management and Legal Support Department, Svyazinvest JSC;

Dmitry V. Levkovsky  - Member of the Board of Directors, Corporate Governance Manager of the Moscow office of NCH Advisors, Inc.;

Mikhail A. Leschenko – Member of the Board of Directors, Deputy General Director, Svyazinvest JSC;

Ivan I. Rodionov - Member of the Board of Directors, Professor of the Corporate Economy & Finance Chair, Higher School of Economics State University;

Nadezhda V. Filippova  - Member of the Board of Directors, Deputy General Manager, JSC Svyazinvest.

Evgeny V. Yurchenko - Member of the Board of Directors, JSC NWT.

Corporate Governance Committee:

Chairperson:

Valentina F. Veremyanina  - Member of the Board of Directors, Executive Director, Director of the Corporate Governance and Legal Support Department, JSC Svyazinvest.

Members of the Committee:

Nikolai I. Bredkov - Corporate Secretary, JSC N.W.Telecom;

Roman K. Ishbulatov  - Lawyer, Moscow office of NCH Advisors, Inc.;

Ekaterina O. Kostko  - Leading Specialist of the Methodology & Information Sector, Corporate Governance and Legal Support Department, JSC Svyazinvest;

Oksana V. Petrova   - Head of the Methodology & Information Sector, Corporate Governance and Legal Support Department, JSC Svyazinvest.