Moscow, Russia – March 6, 2012 – Rostelecom OJSC (MICEX & RTS: RTKM, RTKMP; OTCQX: ROSYY) (“the Company”), Russia’s national telecommunications operator, today announces that on March 5, 2012, Rostelecom’s Board of Directors approved the following nominations to its Board of Directors, which will be elected by the Annual General Meeting of Shareholders (“AGM”):

Nominated by Red Hand Investments Limited and Stotter Limited:

- Denis Kulikov – Executive Director of the Investor Protection Association;

Nominated by the Federal Agency for State Property Management (“Rosimushchestvo”):

- Denis Afanasyev – Advisor to the Minister of Communications and Mass Media of the Russian Federation; 

Nominated by RENAISSANCE SECURITIES (CYPRUS) LIMITED:

- Pavel Grachev – Member of the Board of Directors of Uralkali;

Nominated by Telecommunication Investment Joint Stock Company (“Svyazinvest”):

- Denis Afanasyev – Advisor to the Minister of Communications and Mass Media of the Russian Federation;

- Vladimir Bondarik – General Director of Giprosvyaz;

- Anton Zlatopolsky – General Director of “Rossiya” TV channel;

- Sergey Kuznetsov – Member of the National Register of Independent Directors of the Russian Union of Industrialists and Entrepreneurs;

- Mikhail Leschenko – Deputy General Director of Svyazinvest;

- Anatoly Milyukov – Executive Vice President of Gazprombank;

- Alexander Pertsovsky –  Consultant of Renaissance Broker LLC;

- Alexander Provotorov – President of Rostelecom;

- Ivan Rodionov – Professor of State University ‘Higher School of Economics’, Professor of Russian State Universityfor the Humanities;

- Vadim Semenov – General Director of Svyazinvest;

Nominated by Mobitel LLC (“Mobitel”):

- Anton Inshutin;

- Alexander Provotorov – President of Rostelecom;

Nominated by Evgeny Yurchnko, Euro-Trade LLC and LINDSELL ENTERPRISES LIMITED:

- Evgeny Yurchenko – President of Financial Assets CJSC;

- Victor Savchenko – Executive Director of Financial Assets CJSC;

- Anton Kolpakov – Executive Director of Financial Assets CJSC;

- Andrey Morozov – Head of the Legal Department of the Moscow representative office of NCH Advisors, Inc., USA;

- Dmitry Levkovsky – Director in charge of Corporate Governance of the Moscow representative office of NCH Advisors, Inc., USA; 

Nominated by State Corporation Bank for Development and Foreign Economic Affairs (“Vnesheconombank”):

- Anatoly Tikhonov – Board Member, First Deputy Chairman and Member of the Management Board of Vnesheconombank;

- Yury Kudimov – General Director of VEB Capital;

Nominated by Gazprombank JSC:

- Sergei Azatyan – Managing Director of the Moscow Representative Office of MarCap Advisors Limited LLC;

- Yuri Bulatov – Head of the Moscow Representative Office of MarCap Advisors Limited LLC;

- Pavel Kuzmin – Director of the Legal Department of the Moscow Representative Office of MarCap Advisors Limited LLC;

- Anatoly Milyukov – Executive Vice President of Gazprombank;

- Vladimir Rumyantsev – Chief of Media, Telecoms and High Tech Department in the Direct Investments Directorate of Gazprombank.