On June 20, 2003 Uralsvyazinform held an Annual General Meeting of Shareholders. Approximately 76 % of the total number of issued common voting shares participated in the vote.

Shareholders took the following decisions in compliance with the Meeting’s agenda: approval of the annual report, annual accounting, including profit and loss statement, profit distribution as of FY 2002.

The shareholders took a decision of 2002 dividend payment. The amount of 2002 dividend is RUR0.00394 per 1 common share, RUR0.0091 per 1 preferred share. The total volume of dividend payment would thus make 21.8 % of net profit of consolidated company in 2002. Dividend will be paid in cash. The deadline for payment is as follows: August, 19 – for preferred shares; December, 31 – for common shares.

The following persons were elected to the Board of Directors of the Company:

Adzhalov Vladimir Isfandeyarovich- Advisor to General Director of Rostelecom
Belov Vadim Evgenievich - Deputy General Director of OAO Svyazinvest
Bilibin Yuri Aleksandrovich - Assistant to General Director of OAO Svyazinvest
Chernogorodsky Sergei Valerievich - Deputy Director of Securities Department of OAO Svyazinvest
Grigorieva Alla Borisovna - Deputy Director – Head of Section at Corporate Governance Department of OAO Svyazinvest
Kozin Vladimir Vladimirovich - Director of Direct Investment and Property Department of OAO Svyazinvest
Levkovski Dmitry Vladimirovich - Vice-President of NCH Advisors, Inc.
Perminov Leonid Mikhailovich - Company shareholder
Rybakin Vladimir Ilyich - General Director of OAO Uralsvyazinform
Yurpalov Sergei Yurievich - Head of Economic Department at Russian President Authorized Representative’s Office in Urals Federal District
Zholobov Vladimir Semyonovich - Lead Specialist of Corporate Governance Department of OAO Svyazinvest

The following persons were elected to the Audit Commission:

Baluyeva Svetlana Ivanovna- Deputy Chief Accountant of OAO Uralsvyazinform
Durnova Elena Alekseevna - Lead Specialist of Corporate Funding and Direct Investment Department of OAO Svyazinvest
Frolov Kirill Viktorovich - Lead Specialist of Internal Audit and Economic Analysis Department of OAO Svyazinvest
Kalashnikova Nadezhda Alekseevna - Deputy Director of Legal Department of OAO Uralsvyazinform, Head of Legal Department of Perm Division of OAO Uralsvyazinform
Kukudzhanova Elena Nikolaevna - Lead Specialist of Internal Audit and Economic Analysis Department of OAO Svyazinvest
Podosinov Sergei Vladimirovich - Lead Specialist of Internal Audit and Economic Analysis Department of OAO Svyazinvest
Prokofieva Irina Viktorovna - Deputy Director – Head of Section at Internal Audit and Economic Analysis Department of OAO Svyazinvest

The meeting approved the Company auditor for 2003 – ZAO “Ernst & Young Vneshaudit”. The amount of remuneration to the members of the Board of Directors was also approved. The rates (percent) for quarterly and annual remuneration to members of the Board of Directors total:
- 0.0043 % of Company net sales of goods, products, work, services for the fiscal quarter according the Company’s accounting statement - to each member of the Board of Directors;
- 0.4 % of Company net profit as of the fiscal year according to the Company’s accounting statement – to the Board of Directors totally.

The Meeting also validated revised Procedure of Annual General Meeting, amendments to Provision on Board of Directors and Audit Commission