Moscow – March 11, 2009: Rostelecom (NYSE: ROS; RTS, MICEX: RTKM, RTKMP), Russia’s national telecommunications operator, today announces that the Board of Directors took the decision to elect Sergei Kuznetsov as Chairman of the Board.

Sergei Kuznetsov was born in 1953. He graduated from the North-Western Polytechnics Institute where he specialized in computer technologies. Mr. Kuznetsov trained at Columbia University business school and completed a business administration course at Duke University’s Fuqua School of Business. From 2001 to 2004 he was a member of the Board of Directors at CJSC Telmos, OJSC RTComm.RU, CJSC Globalstar – Space Telecommunications and NP Center for Studies of Telecommunications Development Issues. Between 2002 and 2004 he served as a member of the Board of Directors at OJSC Rostelecom. Mr. Kuznetsov was member of the Board of Directors at OJSC Svyaz-Bank from 2003 to 2005, and as General Director and Chairman of the Management Board at OJSC North-West Telecom from 2003 to 2004. From 2004 to 2006 he served as First Deputy General Director and as a member of the Management Board at OJSC Svyazinvest, as well as a member of the Board of Directors at OJSC Telecominvest. From 2005 to 2006 Mr. Kuznetsov was the Chairman of the Board of Directors at OJSC Southern Telecommunications Company, OJSC Central Telegraph, OJSC Sibirtelecom, OJSC Uralsvyazinform and OJSC Far East Telecommunications Company, as well as serving as a member of the Board of Directors at OJSC VolgaTelecom. In 2006 he was Advisor to General Director at OJSC Svyazinvest. From 2005 Mr. Kuznetsov has served as member of the Board of Directors at OJSC CenterTelecom and OJSC Rostelecom; from 2006 – as Chairman of the Board of Directors at OJSC VolgaTelecom and member of the Board of Directors at OJSC Sibirtelecom; from 2007 – as member of the Board of Directors at OJSC Telecominvest, as Chairman of the Board of Directors at CJSC BaltAvtoPoisk, as well as a member of the Independent Directors’ National Register of the Russian Union of Industrialists and Entrepreneurs.