November 03 meeting of Rostelecom’s BoD ended with the appointment of Dmitry Evgeniyevich Erokhin to the post of the company’s Director General. Erokhin was previously the First Deputy of Rostelecom’s Director General. The board has also decided on premature (from 03.11.2003) termination of mandate of the previous Director General Sergey Ivanovich Kusnetsov on the account of his appointment to the post of Director General at North-West Telecom.

Valery Yashin, Chairman of Rostelecom’s BoD, commented on this resolution as follows: “During the selection process of the new Director General, the board of directors attempted to uphold the succession principle. Mr. Erokhin has a vast amount of experience in the sector and the company. He was one of the developers of Rostelecom’s reform strategy which is currently being implemented by the management. I’m sure that Rostelecom will continue to develop steadily under the leadership of Mr. Erokhin”.

Dmitry Evgenievich Erokhin was born in Makhachkalain 1950. He graduated from the Dagestan Polytechnical Institute with honors in 1977 (majoring in telecom engineering). Erokhin has been working in the telecom sector since 1973, holding leading positions in divisions of Rostelecom since 1997. He has been the First Deputy of Rostelecom’s Director General since October 2001. He is married with two children.

For additional information, please contact:

Svyazinvest Information Department Tel: (095) 727-0418, Fax: (095) 727-0475; e-mail: pr@svyazinvest.ru

Rostelecom Public and Investor Relations Directorate Tel: (095) 973 9920 Fax: (095) 787 2850 e-mail: oracb@hq.rt.ru