REG-Rostelecom OJSC Statement re ROSTELECOM STRATEGY MEETING

Fri Dec 21, 2012 10:18am EST

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MOSCOW--(Business Wire)--


ROSTELECOM STRATEGY MEETING

Moscow, Russia - December 21, 2012 - Rostelecom OJSC (the "Group") (MICEX - RTS:
RTKM, RTKMP; OTCQX: ROSYY), Russia`s national telecommunications operator,
announces that it has held a Strategy Committee meeting at which members of the
Board of Directors, as well as state representatives from the Federal Agency for
State Property Management (Rosimushchestvo) and the Ministry of
Telecommunications and Mass Media of Russia were present to discuss an updated
strategy for Rostelecom. The updated strategy was prepared by Rostelecom to
cover the next 5 to 10 years, and it has been prepared in accordance with the
requirements of the Federal Agency for State Property Management. 

The Strategy Committee has recommended that the Board of Directors of Rostelecom
reviews and approves the updated strategy. 

Rostelecom`s Strategy Committee consists of the following members:

* Vadim Semenov - Chairman of the Strategy Committee, Non-Executive Director; 
* Sergei Azatyan - Independent Director; 
* Anton Inshutin - Independent Director; 
* Sergei Kuznetsov - Independent Director; 
* Alexander Provotorov - Executive Director.

The main purpose of the Strategy Committee is to improve efficiency and
performance of the Board of Directors by means of preliminary reviewing certain
issues falling within responsibilities of the Board of Directors, and to prepare
recommendations to the Board of Directors on issues within the Committee`s
authority. 

***

For more information please visit www.rostelecom.ru or contact:

Investor Relations Department 
Tel. +7 (499) 995 97 80
ir@rt.ru

***

Rostelecom (www.rostelecom.ru) is Russia`s largest national telecommunications
operator with presence in all Russian regions. The Group is a universal operator
and undisputable leader of broadband and pay-TV markets in Russia with over 9
million fixed-line broadband subscribers and over 6 million pay-TV subscribers.
As Rostelecom develops its mobile data networks, its position as a major mobile
operator is growing with over 13 million currently subscribed to Rostelecom`s
mobile voice services. The Company currently has approximately 28 million local
fixed-line voice subscribers and it is the leader in the corporate and
government services segment. The Group is also an important innovator that
provides solutions in the field of medicine, E-Government, cloud computing and
education. 

Rostelecom was assigned a `BBB-` and `BB+` international credit ratings by Fitch
Ratings and Standard & Poor`s respectively, both with a `Stable` outlook. The
Group generated RUB 238.7 billion of consolidated revenues, RUB 94.0 billion of
OIBDA (39.4% of revenues) and RUB 30.6 billion of net income for the nine months
ended September 30, 2012. 

* * * 

Certain statements in this press release are forward-looking statements within
the meaning of the U.S. federal securities laws and are intended to be covered
by the safe harbors created thereby.

Those forward-looking statements include, but are not limited to:

* Management`s assessment of the Company`s future operating and financial
results as well as forecasts of the present value of future cash flows and
related factors;
* the Company`s anticipated capital expenditures and plans to construct and
modernize its network;
* the Company`s expectations as to the growth in demand for its services, plans
relating to the expansion of the range of its services and their pricing;
* the Company`s plans with respect to improving its corporate governance
practices;
* the Company`s expectations as to its position in the telecommunications market
and the development of the market segments within which the Company operates;
* economic outlook and industry trends;
* the Company`s expectations as to the regulation of the Russian
telecommunications industry and assessment of impact of regulatory initiatives
on the Company`s activity;
* other statements regarding matters that are not historical facts.

Such forward-looking statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from those
expressed or implied by these forward-looking statements. These risks,
uncertainties and other factors include:

* risks relating to changes in political, economic and social conditions in
Russia as well as changes in global economic conditions;
* risks relating to Russian legislation, regulation and taxation, including
laws, regulations, decrees and decisions governing the Russian
telecommunications industry, securities industry as well as currency and
exchange controls relating to Russian entities and their official interpretation
by regulatory bodies;
* risks relating to the Company, including the achievement of the anticipated
results, levels of profitability and growth, ability to create and meet demand
for the Company`s services including their promotions, and the ability of the
Company to remain competitive in a liberalized telecommunications market;
* technological risks associated with the functioning and development of the
telecommunications infrastructure, technological innovations as well as the
convergence of technologies;
* other risks and uncertainties. For a more detailed discussion of these and
other factors, see the Company`s Annual Report and the Company`s other public
filings.

Many of these factors are beyond the Company`s ability to control or predict.
Given these and other uncertainties, readers are cautioned not to place undue
reliance on any of the forward-looking statements contained herein or otherwise.
The Company does not undertake any obligation to release publicly any revisions
to these forward-looking statements (which are made as of the date hereof) to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events, except as may be required under applicable
laws.

Rostelecom OJSC 

Copyright Business Wire 2012
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